Outcrop Closes $2.7 Million Private Placement
OUTCROP GOLD CORP.
NOT FOR RELEASE IN THE UNITED STATES OR TO U.S. NEWS WIRE SERVICES
NEWS RELEASE
Outcrop Closes $2.7 Million Private Placement
February 22, 2019, Vancouver, British Columbia – Outcrop Gold Corp. (TSXV: OCG) (the
“Company”) is pleased to announce that it has closed its non- brokered private placement , previously
announced on February 6, 2019.
The Company has raised gross proceeds of $ 2,719,852 through the issuance of 13,599,260 units (the
“Units”) at a price of $0.20 per Unit (the “Offering ”). Each Unit consists of one common share of the
Company and one common share purchase warrant (each a “Warrant”). Each Warrant entitles the holder
to acqu ire an additional common share at a price of $0.40 per share for a period of 5 years from the
closing date.
All securities issued in connection with the Offering are subject to a 4 -month hold period expiring on
June 23, 2019 as prescribed by the TSX Venture Exchange and applicable securities laws. The proceeds
from the Offering will be u sed to advance exploration on projects in Colombia and to fund potential
acquisitions in Colombia, and for general working capital . There w ere aggregate cash finders’ fees of
$12,500 paid in connection with the Offering.
A director of the Company participated in the Offering and subscribed for 1,274,760 Units. The
participation of the director is considered to be a “related party transactio n” pursuant to Multilateral
Instrument 61-101 Protection of Minority Shareholders in Special Transactions (“MI-61-101”) and TSX
Venture Exchange Policy 5.9. The Company determined that exemptions from the formal valuation and
minority shareholder approval requirements of MI 61-101 were available for the related party transaction
pursuant to Section 5.5(a) and Section 5.7(1)(a) of MI 61-101.
ON BEHALF OF THE BOARD OF DIRECTORS
Joseph (Joe) Hebert, Chief Executive Officer
Tel: +1-775-340-0450
Email: [email protected]
www.mirandagold.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.