Silver Spruce Completes Final Closing of Private Placement
Silver Spruce Completes Final Closing of Private Placement
March 4, 2020 - Bedford, NS - (TSXV:SSE) – Silver Spruce Resources Inc. (the “Company”) announced
today that that it has completed its non -brokered private placement for total proceeds of $259,500 . The
private placement consisted of the issuance of 4,890,000 units with each unit consisting of one common
share and a warrant to purchase an additional common share for two year s from the closing of the private
placement. The private placement also consisted of the issuance of 300,000 flow-through units with each
flow-through unit consisting of one flow -through common share and a warrant to purchase an additional
common share for a period of one year from the closing of the private placement.
A total of 390,000 units and 200,000 flow-through units were subscribed by Insiders of the Company.
Finders Fees of $7,500 and 300,000 common shares were paid on the private placement. Th e securities
issued pursuant to the private placement have a hold period of four months in accordance with applicable
securities legislation.
About Silver Spruce Resources Inc.
Silver Spruce Resources Inc. is a well -positioned, Canadian junior exploration company pursuing the
exploration and development of the Melchett Lake VMS project in Ontario, Canada, and the Pino de
Plata epithermal silver/base metal/gold project located in the prolific Sierra Madre Occidental region of
western Chihuahua 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 Ven ture 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.
Brian Penney, CFO and Director
(866) 641-3397
www.silverspruceresources.com
Media Release