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Outcrop Silver Announces Closing of $23 Million Public Offering, Including Full Exercise of the Over-Allotment Option, Led by Investment from Jupiter Asset Management and Eric Sprott
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About this update from Outcrop Silver & Gold Corporation
[{"type":"text","content":"Outcrop Silver Announces Closing of $23 Million Public Offering, Including Full Exercise of the Over-Allotment Option, Led by Investment from Jupiter Asset Management and Eric Sprott\n\n\n\n\n\n Not for distribution to U.S. news wire services or dissemination in the United States.\n \n\n\n\n VANCOUVER, British Columbia, Oct. 03, 2025 (GLOBE NEWSWIRE) -- Outcrop Silver & Gold Corporation (TSXV:OCG, OTCQX:OCGSF, DE:MRG) (“Outcrop Silver” or the “Company”) is pleased to announce that it has closed its previously announced public offering (the “Offering”) of 65,780,000 units of the Company (the “Units”) at a price of $0.35 per Unit, for aggregate gross proceeds of approximately $23,023,000, including the full exercise of the over-allotment option. The Offering was led by BMO Capital Markets, as sole bookrunner, and Research Capital Corporation, as co-lead agent, on behalf of a syndicate of agents, including SCP Resource Finance LP and Red Cloud Securities Inc. (collectively, the “Agents”).\n \n\n Each Unit is comprised of one common share of the Company (a “Common Share\") and one-half of one Common Share purchase warrant of the Company (each whole Common Share purchase warrant, a “Warrant”). Each Warrant will entitle the holder thereof to purchase one Common Share at an exercise price of $0.55 for a period of 24 months following the closing of the Offering, subject to adjustment in certain events. At any time following the 6-month anniversary of the closing of the Offering, if the closing price of the Common Shares exceeds $0.75 for 20 or more consecutive trading days, the Company may, within 10 days following such occurrence, deliver a notice to the holders thereof accelerating the expiry date of the Warrants to a date that is 30 days after the date of such notice.\n \n\n In connection with the Offering, the Agents received a cash commission equal to 6.0% of the gross proceeds from the sale of Units pursuant to the Offering ($1,381,380). The net proceeds from the Offering will be used by the Company for exploration and drilling at the Santa Ana project, as well as for general working capital purposes.\n \n\n As part of the Offering, Jupiter Asset Management acquired 42,857,142 Units for $0.35 for a total consideration of $15 million. Add...