- Outcrop Silver and Gold (TSXV:OCG) will test the market with a C$5 million offering through Research Capital bolstered by a commitment from Eric Sprott, one of Canada’s top mining investors
- Outcrop Silver and Gold is a mineral explorer and developer active in Colombia
- Outcrop Silver and Gold stock has added 16.67 per cent year-over-year and 61.54 per cent since 2020
Outcrop Silver and Gold (TSXV:OCG) will test the market with a C$5 million offering through Research Capital, which is acting as sole agent and bookrunner.
The offering, with units priced at C$0.22, will include an allocation from legendary mining investor Eric Sprott through 2176423 Ontario Ltd. According to Outcrop’s latest investor presentation, Sprott owns approximately 19 per cent of the company.
Outcrop will deploy proceeds into working capital, general corporate purposes and the exploration and development of its Santa Ana silver and gold project in Colombia. The project’s mineral resource estimate details 139,700 ounces of gold and 27,244,000 ounces of silver, both indicated and inferred, representing over US$1.3 billion in the ground.
Financing details
According to Friday’s news release, each Outcrop unit is composed of one common share and one-half-of-one share purchase warrant, while each warrant allows the holder to purchase one share for C$0.30 for 24 months after the closes on March 26, 2025.
About Outcrop Silver and Gold
Outcrop Silver and Gold is a mineral explorer and developer active in Colombia. The company has a track record of successful exploration and is backed by a team with a strong background in Colombian mining.
Outcrop Silver and Gold stock (TSXV:OCG) is down by 4.55 per cent trading at C$0.21 per share as of 10:45 am ET. The stock has added 16.67 per cent year-over-year and 61.54 per cent since 2020.
Join the discussion: Find out what everybody’s saying about Eric Sprott’s investment in this junior mining stock on the Outcrop Silver and Gold Corp. Bullboard and check out Stockhouse’s stock forums and message boards.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
(Top photo: Outcrop Silver and Gold)