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

Core Points - Outcrop Silver & Gold Corporation has successfully closed a public offering of 65,780,000 units at a price of $0.35 per unit, raising approximately $23.02 million [1][3] - Each unit consists of one common share and one-half of a common share purchase warrant, with warrants exercisable at $0.55 for 24 months [2] - The net proceeds will be allocated for exploration and drilling at the Santa Ana project and for general working capital [3] Offering Details - The offering was led by BMO Capital Markets and Research Capital Corporation, with a total cash commission of 6.0% on gross proceeds, amounting to $1,381,380 [3] - Jupiter Asset Management acquired 42,857,142 units for a total of $15 million, while Eric Sprott acquired 14,285,716 units for $5 million [4] Company Overview - Outcrop Silver is focused on advancing its flagship Santa Ana high-grade silver project in Colombia, emphasizing responsible mining practices and community engagement [7][8] - The company aims to expand its mineral resources through strategic exploration initiatives, leveraging a seasoned team with extensive regional experience [8]