Announces $5 Million Public Offering of Units, Led by Investment from Eric Sprott
Summary
VANCOUVER, BC March 21, 2025 Outcrop Silver & Gold Corporation (TSXV: OCG) (OTCQX: OCGSF) (DE: MRG) ("Outcrop Silver" or the Company) is pleased to announce that it has entered into an agreement with Research Capital Corporation as the sole agent and sole bookrunner (the Agent), in connection with a best efforts, public offering of units of the Company (the Units) for aggregate gross proceeds of up to $5,000,000 (the "Offering") at a price of $0.22 per Unit.Mr. Each Warrant will entitle the holder thereof to purchase one Common Share at an exercise price of $0.30 for a period of 24 months following the closing of the Offering.The Company has granted the Agent an option (the Over-Allotment Option) to increase the size of the Offering by up to an additional number of Units, and/or the components thereof, that in the aggregate would be equal to approximately 15% of the total number of Units to be issued under the Offering, to cover over-allotments, if any, and for market stabilization purposes, exercisable at any time and from time to time up to 30 days following the closing of the Offering.The net proceeds from the Offering will be used by the Company for the exploration and development of the Santa Ana Project, working capital and general corporate purposes.The closing of the Offering is expected to occur on or about March 26, 2025 (the Closing), or on such date as agreed upon between the Company and the Agent, and is subject to the Company receiving all necessary regulatory approvals, including the approval of the TSX Venture Exchange (the Exchange) to list, on the date of Closing, the Common Shares and the Common Shares issuable upon exercise of the Warrants and compensation warrants thereon. Outcrop Silver is dedicated to expanding current mineral resources through strategic exploration initiatives.At the core of our operations is a commitment to responsible mining practices and community engagement, underscoring our approach to sustainable development. Our expertise in navigating complex geological and market conditions enables us to consistently identify and capitalize on opportunities to enhance shareholder value. As such, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future plans, operations, results, levels of activity or achievements.