Silver Spruce Increases Private Placement to up to $1,500,000
Media Release
Silver Spruce Increases Private Placement to up to $1,500,000
Bedford, NS- September 8, 2021 - (TSXV:SSE) – Silver Spruce Resources Inc. (the “Company”)
announced today that it has increased its p rivate placement up to $1,500,000. The private placement will
now consist of the issuance of up to 30,000,000 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 for a period of three years from the closing of the private placement.
The proceeds from the private placement will be used for exploration of the Company’s mineral projects
and general working capital.
The private placement is subject to the approval of the TSX Venture Exchange. Finder’s fees will be paid
on the private placement in accordance with the policies of the TSX Venture Exchange.
About Silver Spruce Resources Inc.
Silver Spruce Resources Inc. is a Canadian junior exploration company which ha s 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' Nicho depos it, respectively. The Company also is acquiring
100% interest in the drill-ready and fully permitted Pino de Plata Ag project, located 15 kilometres west of
Coeur Mining's Palmarejo Mine, in western Chihuahua, Mexico. Silver Spruce recently signed an LOI 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
(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 mineral 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 release, 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 beli efs, plans, expectations and intentions contained in this press release are reasonable, there can
be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate.