Silver Spruce Resources Inc. Announces Closing of Non-Brokered Private Placement

BRIDGEWATER, NOVA SCOTIA, Mar 13, 2017 (Marketwired via COMTEX) — BRIDGEWATER, NOVA SCOTIA–(Marketwired – March 13, 2017) – Silver Spruce Resources Inc. (SSE)(frankfurt:S6Q) announces that it has closed its current non-brokered private placement and raised gross proceeds of $459,500.00 (the offering). The offering will consist of the issuance of 5,743,750 shares and 5,743,750 warrants.

Units at $0.08 cents were offered which consisted of one common share in the capital of Silver Spruce and one purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share of Silver Spruce for 12 cents ($0.12) 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.

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