SILVER SPRUCE ANNOUNCES PRIVATE PLACEMENT OF UP TO $1,000,000
September 02 2021 - 8:15AM
InvestorsHub NewsWire
Bedford, NS - September 2, 2021 - InvestorsHub NewsWire
- (TSXV:SSE) Silver Spruce Resources Inc. (the "Company")
announced today a private placement of up $1,000,000. The private
placement will consist of the issuance of up to 20,000,000 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 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' Nicho deposit,
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
mkinley@silverspruceresources.com
info@silverspruceresources.com
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 beliefs, 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.
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