Outcrop Silver Announces $5 Million Public Offering of Units, Led by Investment from Eric Sprott
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
Outcrop Silver Announces $5 Million Public Offering of Units, Led by
Investment from Eric Sprott
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. Eric Sprott, through 2176423 Ontario Ltd., has indicated his intention to participate in the
Offering.
Each Unit will be comprised of one common share of the Company (a " Common Share") and
one-half of one Common Share purchase warrant (each whole warrant, a " Warrant"). 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 e xploration 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. A.G.P.
Canada Investments ULC is appointed as financial advisor to the Company on the Offering.
In connection with the Offering, the Company intends to file a prospectus supplement (the
"Supplement") to the Company’s short form base shelf prospectus dated August 18, 2023 (the
"Shelf Prospectus"), with the securities regulatory authorities in each of the provinces of Canada
(except Quebec). Copies of the S helf Prospectus and, the Supplement to be filed in connection
with the Offering, can be found on SEDAR+ at www.sedarplus.ca. The Shelf Prospectus contains,
and the Supplement will contain, important detailed information about the Company and the
Offering. Prospective investors should read the Supplement and accompanying Shelf Prospectus
and the other documents the Company has filed on SEDAR+ at www.sedarplus.ca before making
an investment decision.
This press release is not an offer to sell or the solicitation of an offer to buy the securities in the
United States or in any jurisdiction in which such offer, solicitation or sale would be unlawful prior
to qualification or registration under the securities laws of such jurisdiction. The securities being
offered have not been, nor will they be, registered under the United States Securities Act of 1933,
as amended, and such securities may not be offered or sold within the United States or to, or for
the account or benefit of, U.S. persons absent registration or an applicable exemption from U.S.
registration requirements and applicable U.S. state securities laws.
About Outcrop Silver
Outcrop Silver is a leading explorer and developer focused on advancing its flagship Santa Ana
high-grade silver project in Colombia. Leveraging a disciplined and seasoned team of
professionals with decades of experience in the region. 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. With a deep understanding of the Colombian mining
landscape and a track record of successful exploration, Outcrop Silver is poised to transform the
Santa Ana project into a significant silver producer, contributing positively to the local economy
and setting new standards in the mining industry.
ON BEHALF OF THE BOARD OF DIRECTORS
Ian Harris
Chief Executive Officer
+1 604 638 2545
www.outcropsilver.com
Kathy Li
Director of Investor Relations
+1 778 783 2818
Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies
of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statements
This news release contains certain statements which constitute forward- looking statements or
information under applicable Canadian securities laws, including statements relating to the
expected size of the Offering, the anticipated timing of closing the Offering, the ability of the
Company to satisfy all conditions to closing the Offering, and the expected use of proceeds from
the Offering. Such forward-looking statements are subject to numerous known and unknown risks,
uncertainties and other factors, some of which are beyond the Company's control, which could
cause actual results or events to differ materially from those stated, anticipated or implied in the
forward-looking statements. These risks and uncertainties include general economic and capital
markets conditions, stock market volatility, the ability of the Company to obtain necessary
consents for the Offering, including the approval of the Exchange, and the ability of the Company
to complete the Offering on the terms expected or at all. Although the Company believes that the
forward-looking statements in this news release are reasonable, they are based on factors and
assumptions, based on currently avai lable information, concerning future events, which may
prove to be inaccurate. 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. The forward -looking statements contained in this news release are
made as of the date of this news release and, except as required by applicable law, the Company
does not undertake any obligation to publicly update or to revise any of the forward -looking
statements, whether as a result of new information, future events or otherwise.