Silver Spruce Closes Private Placement of $1,205,800
Media Release
Silver Spruce Closes Private Placement of $1,205,800
Bedford, NS- October 4, 2021 - (TSXV:SSE) – Silver Spruce Resources Inc. announced today
that it has closed its private placement for proceeds of $1,205,800. The private placement consisted
of the issuance of 24,116,000 units at a price of $0.05 per unit with each unit consisting of one
common share and a warrant to purchase an additional common share at an exercise price of
$0.075 per share on or before September 29, 2024.
The securities issued pursuant to the private placement have a hold period expiring on January 30,
2022.
Finder’s fees of $2,935 were paid on the private placement.
About Silver Spruce Resources Inc.
Silver Spruce Resources Inc. is a Canadian junior exploration company which has signed
Definitive Agreements to acquire 100% of the Melchett Lake Zn -Au-Ag project in northern
Ontario, and with Colibri Resource Corp. in Sonora, Mexico, to acquire 50% interest in Yaque
Minerales S.A de C.V. holding the El Mezquite Au project, a drill -ready precious metal project,
and up to 50% interest in each of Colibri's early stage Jackie Au and Diamante Au-Ag projects,
with the three properties located from 5 kilometres to 15 kilometres northwest from Minera
Alamos's Nicho deposit, respectively. The Company is acquiring 100% interest in the drill-ready
and fully permitted Pino de Plata Ag project, locate d 15 kilometres west of Coeur Mining's
Palmarejo Mine, in western Chihuahua, Mexico. Silver Spruce recently signed a Definitive
Agreement to acquire 100% interest in three exploration properties in the Exploits Subzone Gold
Belt, located 15 -40 kilometres from recent discoveries by Sokoman Minerals Corp. and New
Found Gold Corp., central Newfoundland. Silver Spruce Resources Inc. continues to investigate
opportunities that Management has identified or that have been presented to the Company for
consideration.
Contact:
Silver Spruce Resources Inc.
Michael Kinley, CEO and Director
(902) 402-0388
www.silverspruceresources.com
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.
Notice Regarding Forward-Looking Statements
This news release contains "forward -looking statements," Statements in this press release which are not purely historical are
forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future,
including but not limited to, statements regarding the private placement.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include,
among others, the inherent uncertainties associated with m ineral exploration and difficulties associated with obtaining financing
on acceptable terms. We are not in control of metals prices and these could vary to make development uneconomic. These forward-
looking statements are made as of the date of this news r elease, and we assume no obligation to update the forward -looking
statements, or to update the reasons why actual results could differ from those projected in the forward -looking statements.
Although we believe that the beliefs, plans, expectations and int entions contained in this press release are reasonable, there can
be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate.