Toronto, Ontario--(Newsfile Corp. - September 26, 2024) - Eric Sprott announces that, today, 2176423 Ontario Ltd., a corporation beneficially owned by him, exercised 10,000,000 common share purchase warrants (Warrants) of Outcrop Silver & Gold Corporation., at $0.20 per common share (Share) for aggregate consideration of $2,000,000. The exercise of Warrants, combined with prior corporate treasury issuances of Shares, resulted in a decrease in holdings of approximately 2.3% of the outstanding Shares on a partially diluted basis since the date of the last early warning report. Prior to such exercise, Mr. Sprott beneficially owned 31,042,800 Shares and 12,000,000 Warrants representing approximately 10.4% of the outstanding Shares on a non-diluted basis and approximately 13.9% on a partially diluted basis assuming the exercise of such Warrants.
As a result of the exercise of the Warrants, Mr. Sprott now beneficially owns 41,042,800 Shares and 2,000,000 Warrants representing approximately 13.3% of the outstanding Shares on a non-diluted basis and approximately 13.9% on a partially diluted basis assuming the exercise of such Warrants.
The securities are held for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities including on the open market or through private acquisitions or sell the securities including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.
Outcrop Silver & Gold's address is 1111 West Hastings St., Suite 905., Vancouver, British Columbia, V6E 2J3. A copy of the early warning report with respect to the foregoing will appear on Outcrop Silver & Gold's profile on SEDAR+ at www.sedarplus.ca and may also be obtained by calling Mr. Sprott's office at (416) 945-3294 (2176423 Ontario Ltd., 7 King Street East, Suite 1106, Toronto, Ontario, M5C 3C5).
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/224743
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