Business
Outcrop Silver Announces $20 Million Public Offering
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About this update from Outcrop Silver & Gold Corporation
[{"type":"text","content":"Outcrop Silver Announces $20 Million Public Offering\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, Sept. 24, 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 entered into an agreement with BMO Capital Markets, as sole bookrunner, and Research Capital Corporation, as co-lead agent, on behalf of a syndicate of agents (collectively, the “Agents”), in connection with a best efforts, public offering of units of the Company (the “Units”) for aggregate gross proceeds of up to $20 million (the “Offering”) at a price of $0.35 per Unit.\n \n\n Each Unit will be 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 The Company has granted the Agents an 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 “Over-Allotment Option”).\n \n\n The Agents will receive from the Company a fee equal to 6.0% of the gross proceeds of the Offering, including any gross proceeds from the Over-Allotment Option. The net proceeds from the Offering will be used by the Company for explora...