Toronto, March 11, 2024 - Eric Sprott announces that, on March 9, 2024, 7,400,000 common share purchase warrants (Warrants) of Outcrop Silver & Gold Corp.., (held by 2176423 Ontario Ltd., a corporation he beneficially owns) expired unexercised representing a decrease in holdings of approximately 5.0% of the outstanding common shares (Shares) on a partially diluted basis since the date of the last early warning report. Prior to the expiry of these Warrants, Mr. Sprott beneficially owned 31,042,800 Shares and 19,400,000 Warrants representing approximately 12.2% of the outstanding Shares on a non-diluted basis and approximately 18.4% on a partially diluted basis assuming the exercise of such Warrants.
As a result of the Warrant expiry, Mr. Sprott now beneficially owns 31,042,800 Shares and 12,000,000 Warrants representing approximately 12.2% of the outstanding Shares on a non-diluted basis and approximately 16.2% on a partially diluted basis assuming the exercise of such Warrants. The Warrant expiry combined with previous new share issuances by Outcrop Silver & Gold resulted in a partially diluted ownership change of greater than 2% and, therefore, the filing of an update to the early warning report.
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 Corp. is located at 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 Silvers'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).
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