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Silver Spruce Resources Inc. Announces Close of $739,250 First Tranche of Non-Brokered Private Placement and Extension
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES...
About this update from Silver Spruce Resources Inc.
[{"type":"text","content":"Silver Spruce Resources Inc. Announces Close of $739,250 First Tranche of Non-Brokered Private Placement and ExtensionNOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES BEDFORD, NS / ACCESS Newswire / April 1, 2026 / Silver Spruce Resources Inc. (\"Silver Spruce\" or the \"Corporation\") (TSXV:SSE) is pleased to announce that it has closed the first tranche (the \"First Tranche\") of its previously announced non-brokered private placement (the \"Offering\"). The First Tranche consisted of the issuance of 3,696,250 units in the capital of the Corporation (the \"Units\") at a price of CAD$0.20 per Unit (the \"Offering Price\") for gross aggregate proceeds of $739,250. Each Unit was composed of one common share in the capital of the Corporation (each, a \"Share\") and one Share purchase warrant (each, a \"Warrant\"). Each Warrant entitles the holder thereof to purchase one Share (each, a \"Warrant Share\") at an exercise price of $0.30 per Warrant Share for a period of 4 years from the date of issuance. The Company also announces that it is extending the Offering, and it anticipates that it will close the second and final tranche of the Offering on or before May 4, 2026.The Corporation expects to use the proceeds of the Offering for exploration of the Corporation's mineral projects and general working capital purposes. The Offering is subject to the receipt of all necessary regulatory approvals, including the receipt of final approval from the TSX Venture Exchange (the \"TSXV\").In connection with the First Trance, the Company has agreed to pay a cash commission to eligible finders in the aggregate of $39,560 and to issue an aggregate of 197,800 finder's warrants exercisable at a price of $0.30 for forty-eight (48) months from the closing of the First Tranche. The securities issued pursuant to the First Tranche and to eligible finders will be subject to a statutory hold period of four months and one day from the date of issuance in accordance with applicable securities laws.Certain insiders of the Corporation subscribed for an aggregate of 233,750 Units under the Offering, which constitutes a \"related party transaction\" as such term is defined in Multilateral Instrument 61-101 - Protection of Minority Shareholders in Special Transactions (\"MI 61-101\"). The Corporation is relying on...