Business
Silver Spruce Resources Inc. Announces Non-Brokered Private Placement for Proceeds of up to $2,000,000
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 Non-Brokered Private Placement for Proceeds of up to $2,000,000NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES BEDFORD, NS / ACCESS Newswire / March 2, 2026 / Silver Spruce Resources Inc. (\"Silver Spruce\" or the \"Corporation\") (TSXV:SSE) is pleased to announce a non-brokered private placement to raise proceeds of up to $2,000,000 through the issuance of up to 10,000,000 units of the Corporation (the \"Units\") at an issue price of $0.20 per Unit (the \"Offering\"). Each Unit is comprised of one common share and one common share purchase warrant (each, a \"Warrant\"). Each Warrant entitles the holder thereof to purchase one common share of the Corporation (each, a \"Warrant Share\") at an exercise price of $0.30 per Warrant Share for a period of 4 years from the closing of the Offering.The Offering is expected to close on or about March 27, 2026, and is subject to certain closing conditions, including, but not limited to, the receipt of all necessary approvals, including acceptance by the TSX Venture Exchange (the \"TSX-V\"). The Corporation expects to use the proceeds of the Offering for exploration of the Corporation's mineral projects and general working capital purposes. In connection with the Offering, the Corporation may pay eligible finders a cash commission and issue finder's warrants in accordance with the policies of the TSXV.Certain insiders of the Corporation may participate in the Offering, which would constitute 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 intends to rely on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the acquired securities by such insiders will not exceed 25% of the market capitalization of the Corporation, as determined in accordance with MI 61-101.The securities issued under the Offering will be subject to a statutory hold period in Canada of four months and a day from the date of issuance in accordance with applicable securities laws.This news release does not constitute an offer to sell or a solicitation of an offer to buy any of th...