BRIDGEWATER, NS / ACCESSWIRE / November 26, 2018 / (TSXV: SSE)(Frankfort: S6Q) -- Silver Spruce Resources Inc. (the "Company") announces that further to its news release dated November 7, 2018, the TSX Venture Exchange ("TSX-V") has granted an extension to the deadline to complete the previously announced non-brokered private placement ("Private Placement") of up to 60,000,000 units ("Units") at a price of $0.025 per Unit to on or before December 24, 2018. Each Unit consists of one common share and one common share purchase warrant exercisable at $0.05 for a period of 36 months. In connection with the Private Placement, the TSX-V requires the Company to obtain written confirmation from shareholders of the Company holding not less than 50% of the common shares (determined as of completion of the Private Placement) that such shareholders will vote in favour of the proposed consolidation of the Company's common shares on a one (new) for five (old) share basis at the meeting of shareholders to be held in early 2019.
The net proceeds of the financing will be used to pay for the drill program at the Pino de Plata project and general working capital
About Silver Spruce Resources Inc.
Silver Spruce Resources Inc. is a Canadian junior exploration company pursuing exploration and development of the exploration of the Pino De Plata epithermal silver/ base metal/ gold projects located in the prolific Sierra Madre Occidental region of western Chihuahua State in Mexico.
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.
Contact:
Silver Spruce Resources Inc.
Karl Boltz, President & CEO, Director
Toll Free: (866) 641-3397
info@silverspruceresources.com
www.silverspruceresources.com
SOURCE: Silver Spruce Resources Inc.
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https://www.accesswire.com/528991/Silver-Spruce-Resources-Inc-Announces-Extension-of-the-Current-Private-Placement-Priced-at-0025-to-December-24-2018
