Silver Spruce Closes Financing
Silver Spruce Closes Financing
August 28, 2019 - Bridgewater, NS - (TSXV:SSE) – Silver Spruce Resources Inc. ("Silver Spruce"
or the "Company") is pleased to announce the closing of its fi nancing. The Company has issued
5,225,000 units at $0.05 per unit for gross proceeds of $261,250. Each unit consisted of one
common share and one, full, two-year warrant, exercisable at $0.075 into one common share. All
units acquired pursuant to the private placem ent, and shares which may be acquired upon the
exercise of the warrants, are subject to a four month hold period in accordance with applicable
securities legislation. A finder’s fee of $625 was paid to Ken MacLeod.
A portion of this Private Placement constitutes a Related Party Transaction . The Company is
relying on the exemption from Related Party Transaction minority vote and valuation requirements
on the basis of exemptions set out in section 5.5(a) and 5.7(a) of MI 61 -101 as the fair mark et
value of the participation in the Offering by insiders does not exceed 25% of the market
capitalization of the Issuer.
Net proceeds will be used to conduct due diligence and exploration activities , and for general
corporate and administrative requirements.
About Silver Spruce Resources Inc.
Silver Spruce Resources Inc. is a Canadian junior exploration company pursuing development of
the Pino d e Plata project, located in the prolific Sierra Madre Occidental region of western
Chihuahua State in Mexico. The Company has signed a binding Letter of Agreement to acquire
100% of the advanced Cocula gold project in Jalisco State, Mexico. Silver Spruce Resources Inc.
continues to investigate opportunities that Management has identified or that have been presented
to the Company for consideration.
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
(866) 641-3397
www.silverspruceresources.com
Media Release