11:05 AM EDT, 03/21/2025 (MT Newswires) -- Outcrop Silver & Gold ( OCGSF ) on Friday said it intends to raise up to $5 million in a best-efforts public offering of share units priced at $0.22 each with participation from mining magnate Eric Sprott.

The units are made up of a share and one half of a two-year a warrant to buy a share for $0.30. The agent has also been granted a 15% over-allotment option.

Proceeds will be used to develop the Santa Ana Project in Colombia.

The offering is expected to close by March 26.

Outcrop's shares were last seen down $0.01 to $0.21 on the TSX Venture Exchange.

Price: 0.21, Change: -0.01, Percent Change: -4.55