| Silver Spruce Resources Inc Announces Closing of Non --Brokered Private Placement | |
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Bridgewater NS, Canada- April 20, 2016- Silver Spruce Resources Inc. (TSXV: SSE) announces that it has closed its previously announced non-brokered private placement and raised gross proceeds of $410,795.00 (the offering). The offering will consist of the issuance of 5,477,266 shares and 2,738,633 warrants.
Units at 7.5 cents were offered which consisted of one common share in the capital of Silver Spruce and one half purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share of Silver Spruce for 10 cents ($0.10) at any time prior to the date which is twenty four months (2 years) from a particular closing date at which time the warrants will expire. All units acquired pursuant to the private placement, and shares which may be acquired upon the exercise of the warrants, are subject to a four month hold period in accordance with applicable securities legislation.
The gross proceeds will be used to meet operating obligations.
Finder's fees of $7,128.00 were paid.
About Silver Spruce Resources Inc.
Silver Spruce Resources Inc is a, well positioned, Canadian junior exploration company pursuing development of the Pino de Plata epithermal silver/ base metal/ gold project located in the prolific Sierra Madre Occidental region of Western Chihuahua State in Mexico. The company has recently completed an exploration assessment on the property. Silver Spruce also retains a portfolio of uranium and rare earth element properties in Labrador.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The company seeks Safe Harbour.
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For further information:
Gordon Barnhill CFO/Director - Silver Spruce Resources Inc.
Tel: 902-527-5700 Fax: 902-527 5711 email: [email protected]
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Silver Spruce Resources Inc.
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EXPLORATION STAGE |
CODE : SSE.V |
ISIN : CA8282291043 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Silver Spruce Res. is a gold exploration company based in Canada. Silver Spruce Res. holds various exploration projects in Canada. Its main exploration properties are CMB E, SEAL LAKE/SEAL LAKE NORTH, MOUNT BENEDICT, T-649 / SUPER 7, MAKKOVIK RIVER, TOKIALUK BAY, STRAITS, DOUBLE MER, CENTRAL MINERAL BELT, SNEGAMOOK, CENTRAL NEWFOUNDLAND (CNL), TWO TIME ZONE, HUDSON BAY, CALVIN LANDING and BIG EASY in Canada and CENTAURO in Mexico. Silver Spruce Res. is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 311 631 as of today (US$ 226 311, € 206 916). Its stock quote reached its highest recent level on February 11, 2011 at CA$ 3.60, and its lowest recent point on August 16, 2024 at CA$ 0.01. Silver Spruce Res. has 31 163 053 shares outstanding. |