Outcrop Silver increases public offering to $6.5 million

Outcrop Silver & Gold Corporation has announced that it will increase the size of its public offering to $6.5 million. This decision comes after strong demand from investors. The offering will involve selling units at a price of $0.22 each. Research Capital is leading the offering as the sole agent. Notably, Eric Sprott, a well-known investor, plans to participate in this fundraise. Each unit in the offering includes one common share and half a warrant, allowing the holder to buy a full share at $0.30 within the next two years. The company can increase the offering by an additional 15% to account for over-allotments. Funds raised will support exploration and development of the Santa Ana Project, as well as working capital and other corporate needs. The offering is expected to close around March 26, 2025, pending regulatory approvals. Outcrop Silver focuses on the Santa Ana silver project in Colombia. The company aims to expand its mineral resources through exploration while maintaining responsible mining practices and engaging with the local community.