VANCOUVER, BC, Feb. 13,
2025 /CNW/ - Outcrop Silver & Gold
Corporation (TSXV: OCG) (OTCQX: OCGSF) (DE: MRG) ("Outcrop
Silver") announces that the board of directors has
approved the adoption of an amendment to its 10% rolling stock
option plan to change it to a fixed number plan. Under the
10% rolling stock option plan, Outcrop Silver could grant stock
options to purchase up to 10% of the issued common shares at the
time of the grant.
Outcrop Silver has adopted an amendment to the motion to be
considered at the annual general and special meeting of
shareholders to be held Friday, February
14th, 2025. The amendment changes the
aggregate number of common shares reserved for issuance from
treasury under the revised fixed stock option plan to
34,159,595. At the meeting, shareholders will be asked to
ratify and approve the revised fixed stock option plan, including
the new limit for issuance to insiders under the option plan, and
any other share compensation arrangement.
The rules of the TSX-V require that the revised stock option
plan be approved by an ordinary resolution passed by a majority of
the votes cast by holders of common shares of Outcrop Silver
present or represented by proxy at the shareholder meeting.
Shareholders will be asked at the meeting to consider and, if
deemed advisable, to pass, with or without variation, the
resolution that subject to the approval of the TSX Venture Exchange
and any other regulatory approvals, the stock option plan as
described in the Information Circular of the Company as dated
January 10, 2025 and all unallocated
entitlements issuable pursuant to the previous Option Plan are
hereby approved and authorized for issuance, as amended to a fixed
limit of 34,159,595 stock options with an effective date of
February 13, 2025.
About Outcrop Silver
Outcrop Silver is a leading explorer and developer focused on
advancing its flagship Santa Ana high-grade silver project in
Colombia. Leveraging a disciplined
and seasoned team of professionals with decades of experience in
the region. Outcrop Silver is dedicated to expanding current
mineral resources through strategic exploration initiatives.
At the core of our operations is a commitment to responsible
mining practices and community engagement, underscoring our
approach to sustainable development. Our expertise in navigating
complex geological and market conditions enables us to consistently
identify and capitalize on opportunities to enhance shareholder
value. With a deep understanding of the Colombian mining landscape
and a track record of successful exploration, Outcrop Silver is
poised to transform the Santa Ana project into a significant silver
producer, contributing positively to the local economy and setting
new standards in the mining industry.
ON BEHALF OF THE BOARD OF DIRECTORS
www.outcropsilver.com
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as such term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Certain information contained herein constitutes
"forward-looking information" under Canadian securities
legislation. Generally, forward-looking information can be
identified by the use of forward-looking terminology such as
"potential," "we believe," or variations of such words and phrases
or statements that certain actions, events or results "will" occur.
Forward-looking statements are based on the opinions and estimates
of management as of the date such statements are made and they are
subject to known and unknown risks, uncertainties and other factors
that may cause the actual results, level of activity, performance
or achievements of Outcrop to be materially different from those
expressed or implied by such forward-looking statements or
forward-looking information, including: the receipt of all
necessary regulatory approvals, capital expenditures and other
costs, financing and additional capital requirements, completion of
due diligence, general economic, market and business conditions,
new legislation, uncertainties resulting from potential delays or
changes in plans, political uncertainties, and the state of the
securities markets generally. Although management of Outcrop have
attempted to identify important factors that could cause actual
results to differ materially from those contained in
forward-looking statements or forward-looking information, there
may be other factors that cause results not to be as anticipated,
estimated or intended. There can be no assurance that such
statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
forward-looking statements and forward-looking information. Outcrop
will not update any forward-looking statements or forward-looking
information that are incorporated by reference.
SOURCE Outcrop Silver & Gold Corporation
