Eric Sprott Announces Changes to His Holdings in Outcrop Silver & Gold Corporation

Rhea-AI Summary

Eric Sprott announces the expiry of 7.4 million common share purchase warrants of Outcrop Silver & Gold Corporation, resulting in a decrease in holdings by 5.0%. Mr. Sprott now beneficially owns 31,042,800 Shares and 12,000,000 Warrants, representing 12.2% and 16.2% on a non-diluted and partially diluted basis, respectively. The Warrant expiry, along with new share issuances, led to a partially diluted ownership change of over 2%, prompting an update to the early warning report.

Toronto, Ontario--(Newsfile Corp. - March 11, 2024) -  Eric Sprott announces that, on March 9, 2024, 7,400,000 common share purchase warrants (Warrants) of Outcrop Silver & Gold Corporation., (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 Corporation 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).

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/201007

FAQ

How many common share purchase warrants of Outcrop Silver & Gold Corporation expired unexercised?

7.4 million common share purchase warrants of Outcrop Silver & Gold Corporation expired unexercised.

What is the decrease in holdings percentage due to the expiry of the warrants?

The decrease in holdings is approximately 5.0%.

What is the current ownership percentage of Mr. Sprott in terms of non-diluted and partially diluted basis?

Mr. Sprott currently beneficially owns 31,042,800 Shares and 12,000,000 Warrants, representing 12.2% and 16.2% on a non-diluted and partially diluted basis, respectively.

What prompted the filing of an update to the early warning report?

The Warrant expiry, combined with new share issuances, resulted in a partially diluted ownership change of greater than 2%.

What are Mr. Sprott's intentions regarding the securities?

The securities are held for investment purposes, and Mr. Sprott may acquire additional securities or sell them in the future based on market conditions and other relevant factors.