Outcrop Silver announces $5 million public offering

Outcrop Silver & Gold Corporation has announced a public offering of units worth up to $5 million. The deal is led by Research Capital Corporation. Eric Sprott, a notable investor, plans to participate in this offering. Each unit will cost $0.22 and will consist of one share and half a warrant. These warrants can be used to buy additional shares at a price of $0.30 within 24 months of the offering's closure. There is also an option for the agent to increase the number of units offered by about 15%. The funding gained from this offering will support the exploration and development of the Santa Ana Project in Colombia, as well as general corporate needs. The closing of the offering is expected around March 26, 2025, pending necessary regulatory approvals. Outcrop Silver focuses on advancing its silver project in Colombia. The company aims to enhance its mineral resources responsibly and engage with local communities while following sustainable mining practices.