Silver Spruce Resources Announces Shares for Debt Settlement

http://www.juniorminingnetwork.com/junior-miner-news/press-releases/1140-tsx-venture/sse/15634-silver-spruce-resources-announces-shares-for-debt-settlement.html#.Vppzb-TrvIU

BRIDGEWATER, NOVA SCOTIA–(Marketwired – Jan. 15, 2016) – Silver Spruce Resources (“Silver Spruce” or the “Company”) (TSX VENTURE:SSE) (FRANKFURT:S6Q) is pleased to announce that it has completed the settlement for outstanding indebtedness first announced on July 3, 2015 by obtaining shareholder approval at it’s recently completed annual meeting December 2, 2015.The outstanding amount of $90,000.00 will be settled through the issuance of 1,800,000 common shares of the company at a deemed price of $0.05 per common share (the debt settlement).

This debt settlement is subject to TSX-Venture Exchange approval and the shares will be subject to a four month hold period.

 

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