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Outcrop Silver Announces $5 Million Public Offering of Units, Led by Investment from Eric Sprott

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

VANCOUVER, British Columbia, March 21, 2025 (GLOBE NEWSWIRE) -- Outcrop Silver & Gold Corporation (TSXV:OCG) (OTCQX:OCGSF) (DE: MRG) ("Outcrop Silver" or the "Company") is pleased to announce that it has entered into an agreement with Research Capital Corporation as the sole agent and sole bookrunner (the "Agent"), in connection with a best efforts, public offering of units of the Company (the "Units") for aggregate gross proceeds of up to $5,000,000 (the "Offering") at a price of $0.22 per Unit.

Mr. Eric Sprott, through 2176423 Ontario Ltd., has indicated his intention to participate in the Offering.

Each Unit will be comprised of one common share of the Company (a "Common Share") and one-half of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder thereof to purchase one Common Share at an exercise price of $0.30 for a period of 24 months following the closing of the Offering.

The Company has granted the Agent an option (the "Over-Allotment Option") to increase the size of the Offering by up to an additional number of Units, and/or the components thereof, that in the aggregate would be equal to approximately 15% of the total number of Units to be issued under the Offering, to cover over-allotments, if any, and for market stabilization purposes, exercisable at any time and from time to time up to 30 days following the closing of the Offering.

The net proceeds from the Offering will be used by the Company for the exploration and development of the Santa Ana Project, working capital and general corporate purposes.

The closing of the Offering is expected to occur on or about March 26, 2025 (the "Closing"), or on such date as agreed upon between the Company and the Agent, and is subject to the Company receiving all necessary regulatory approvals, including the ...