Outcrop Silver Raises $23M in Public Offering for Santa Ana Project
Outcrop Silver & Gold Corporation (TSXV:OCG,OTC:OCGSF, OTCQX:OCGSF, DE:MRG) has successfully concluded a public offering, raising approximately $23 million. The company sold 65,780,000 units at $0.35 each, with each unit comprising one common share and one-half warrant.
The offering saw significant participation from lead investors. Jupiter Asset Management acquired 42,857,142 units for $15 million, while Eric Sprott picked up 14,285,716 units for $5 million. The full exercise of the over-allotment option contributed to the total gross proceeds.
The company has committed to using the net proceeds for exploration and drilling at its flagship Santa Ana project in Colombia, as well as for general working capital purposes. This underscores Outcrop Silver's dedication to advancing its high-grade silver project.
The offering was conducted under a prospectus supplement filed with securities regulatory authorities in Canada, excluding Quebec and Nunavut, on September 29, 2025. The agents involved received a cash commission of $1,381,380, equivalent to 6.0% of the gross proceeds.
Warrants from the offering can be exercised at $0.55 for a period of 24 months. However, this period may be accelerated if the common share price exceeds $0.75 for 20 consecutive trading days.
Outcrop Silver & Gold Corporation's successful capital raise demonstrates strong investor confidence in the company's prospects. The funds will support its commitment to responsible mining practices and community engagement at the Santa Ana project. The company's shares are traded on several exchanges, including the TSXV, OTC, and DE.
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