Business
Outcrop Silver & Gold Announces $3 Million Private Placement
VANCOUVER, BC, Sept. 12, 2022 /CNW/ - Outcrop Silver & Gold Corporation (TSXV: OCG) (OTCQX: OCGSF) (DE: MRG1) ("Outcrop") announces a non-brokered private place
About this update from Outcrop Silver & Gold Corporation
[{"type":"text","content":" VANCOUVER, BC, Sept. 12, 2022 /CNW/ - Outcrop Silver & Gold Corporation (TSXV: OCG) (OTCQX: OCGSF) (DE: MRG1) (\"Outcrop\") announces a non-brokered private placement consisting of up to 20,000,000 common shares at a price of $0.15 per unit (the \"Units\") for gross aggregate proceeds of up to $3 million (the \"Offering\"). The net proceeds will be used for exploration at the Santa Ana high grade silver project and general corporate purposes. Each Unit will be comprised of one common share (a \"Common Share\") and one Common Share purchase warrant (a \"Warrant\"). Each Warrant will entitle the holder thereof to purchase one Common Share at an exercise price of $0.22 for a period of 36 months following the closing of the Offering. A finder's fee of 6% cash and 6% brokers warrants, issued at an exercise price of $0.22 for a period of 36 months following the closing of the Offering, will be payable on a portion of the Offering. Research Capital Corporation is acting as a finder in connection with the Offering. Closing of the Offering is subject to approval of the TSX Venture Exchange. Securities issued in the Offering are subject to a statutory hold period of four months. Closing of the Offering is intended to occur on or around September 23, 2022. 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 Outcrop is rapidly advancing exploration on five silver and gold exploration projects with world-class discovery potential in Colombia. Outcrop is currently drilling and expanding the Santa Ana historic high-grade silver district. These assets are being advanced by a highly disciplined and seasoned professional team with decades of experience in Colombia. ON BEHALF OF THE BOARD OF D...