Bridgewater NS, Canada- October 31, 2017- Silver Spruce Resources Inc. (TSXV: SSE) announces that it has closed its current non-brokered private placement and raised gross proceeds of $132,500.00 (the offering). The offering will consist of the issuance of 2,650.000 shares and 2,650,000 warrants.
Units at $0.05 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 7.5 cents ($0.075) 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.