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

Executive Summary

• Outcrop Silver & Gold Corp. closed its public offering of 65,780,000 units at $0.35 per unit, generating approximately $23.0 M in gross proceeds.
• The net proceeds are earmarked for exploration and drilling at the Santa Ana project in Colombia and for general working capital.
• Major investors include Jupiter Asset Management (42,857,142 units for $15 M) and Eric Sprott (14,285,716 units for $5 M).

Key Details

• Offering Size & Price: 65,780,000 units @ $0.35 per unit = $23,023,000 gross proceeds (including full exercise of the over‑allotment option).
• Unit Composition: Each Unit = 1 common share + ½ Common Share purchase warrant.
• Warrant Terms: Exercise price $0.55; exercisable for 24 months post‑closing; possible acceleration if share price > $0.75 for ≥20 consecutive trading days after the 6‑month anniversary.
• Lead Underwriters: BMO Capital Markets (sole bookrunner) and Research Capital Corporation (co‑lead agent); syndicate also included SCP Resource Finance LP and Red Cloud Securities Inc.
• Commission Paid to Agents: Cash commission of $1,381,380 (6.0% of gross proceeds).
• Major Purchasers:
• Jupiter Asset Management – 42,857,142 Units for $15 M.
• Eric Sprott (through 2176423 Ontario Ltd.) – 14,285,716 Units for $5 M.
• Use of Proceeds: Primarily for exploration and drilling at the Santa Ana high‑grade silver project in Colombia; remainder for general working capital.
• Regulatory Filings: Prospectus supplement dated September 29 2025 filed with Canadian securities regulators (excluding Quebec and Nunavut); available on SEDAR+.

Notable Quotes

(No direct CEO quotes were included in the release.)