Business
Outcrop Silver & Gold Announces Upsized $6.0 Million Public Offering of Units
VANCOUVER, BC, March 2, 2022 /CNW/ - Outcrop Silver & Gold Corporation (TSXV: OCG) (OTCQX: OCGSF) (DE: MRG1) ("Outcrop" or the "Company") is pleased to announce
About this update from Outcrop Silver & Gold Corporation
[{"type":"text","content":" VANCOUVER, BC, March 2, 2022 /CNW/ - Outcrop Silver & Gold Corporation (TSXV: OCG) (OTCQX: OCGSF) (DE: MRG1) (\"Outcrop\" or the \"Company\") is pleased to announce that, due to strong investor demand, it has agreed with Research Capital Corporation as sole agent and sole bookrunner (the \"Agent\"), to increase the size of the previously announced best efforts, public offering (the \"Offering\") to $6,000,000 in aggregate gross proceeds to the Company. The Offering consists of units of the Company (the \"Units\") at a price of $0.27 per Unit (the \"Offering Price\"). Each Unit will be comprised of one common share of the Company (a \"Common Share\") and one Common Share purchase warrant of the Company (a \"Warrant\"). Each Warrant will entitle the holder thereof to purchase one Common Share at an exercise price of $0.37 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 working capital and general corporate purposes. The closing of the Offering is expected to occur on or about March 9, 2022 (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. 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 April 27, 2021 (the \"Shelf Prospectus\"), with the securities regulatory authorities in each of the provinces of Canada, except Quebec. Copies of the Shelf Prospectus and, the Supplement to be filed in connection with the Offering, can be found o...