Silver Spruce Announces Non-Brokered Private Placement
Silver Spruce Announces Non-Brokered Private Placement
June 16, 2019 - Bridgewater, NS - (TSXV:SSE) (Frankfurt: S6Q1) – Silver Spruce Resources Inc.
("Silver Spruce" or the "Company") announces a non -brokered private placement to sell up to
15,000,000 units (the "Units") in the capital of the Company at a price of $ 0.0 5 cents per Unit for
total proceeds of up to CDN $750,000. Each unit will consist of one (1) common share in the capital
of Silver Spruce and one share purchase warrant. Each warrant will entitle the holder to purchase
one additional common share of Silver Spruce (a "Warrant Share") for $0.075 cents at any time prior
to the date which is twenty-four months (2 years) from a particular Closing Date, at which time the
Warrants will expire. If the market price of the listed shares increases to $0.15 per share for a period
of 20 consecutive trading days, the Company will issue a news release announcing the acceleration
of the exercise period to 30 days following the issuance of the news release.
All units acquired pursuant to the private placement, and shares which may be acquired upon the
exercise of the warrants, are subject to a four (4) month hold period in accordance with applicable
securities legislation.
The net proceeds of the financing shall be used for Phase I drilling on specific targets on the Pino de
Plata project in Mexico and for working capital. The Company will pay all reasonable expenses and
fees incurred in connection with the Offering and Agents will be paid a negotiated cash fee as a
percentage of the gross proceeds raised in the Offering . This financing, its terms and the finder’s
fees are subject to TSX Venture Exchange approval.
About Silver Spruce Resources Inc.
Silver Spruce Resources Inc . is a well positioned, Canadian junior exploration company pursuing
development of the P ino de Plata epithermal silver/base metal/ gold project located in the prolific
Sierra Madre Occidental region of w estern Chihuahua State, Mexico. T he Company has recently
completed an exploration assessment on the property.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release. The company seeks Safe Harbour.
Contact:
Silver Spruce Resources Inc.
Karl Boltz, President/CEO/Director
Toll Free: (866) 641-3397
www.silverspruceresources.com
Media Release