SILVER SPRUCE INCREASES PRIVATE PLACEMENT UP TO $1,500,000
September 08 2021 - 8:15AM
InvestorsHub NewsWire
Bedford, NS - September 8, 2021 - InvestorsHub NewsWire
- (TSXV:SSE) - Silver Spruce Resources Inc. (the "Company")
announced today that it has increased its private 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 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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