Business
Spruce Ridge Resources Comments on John Ryan Press Release
TORONTO, Aug. 23, 2023 (GLOBE NEWSWIRE) -- Spruce Ridge Resources Ltd. (“Spruce Ridge” or the “Company”) (TSX-V: SHL) announces that further to its press releas
About this update from Homeland Nickel Inc
[{"type":"text","content":" TORONTO, Aug. 23, 2023 (GLOBE NEWSWIRE) -- Spruce Ridge Resources Ltd. (“Spruce Ridge” or the “Company”) (TSX-V: SHL) announces that further to its press release dated August 4, 2023, upon taking control of the Company's records in August of 2022, current management was notified of funds owed to the Company by the former president and CEO, John Ryan. The amount owing has not been repaid and current management does not believe the funds were advanced for legitimate business purposes. The receivable was assessed in the annual financial statements for the year ended April 30, 2023, and was impaired in the full amount of $631,030. The Company has commenced legal proceedings for recovery of the receivable. Mr. Ryan has commenced a counterclaim in respect of these matters and has disseminated a press release enclosed hereto as Schedule “A”. The Company maintains that it will be pursuing the full extent of its legal claims against Mr. Ryan. The Company intends to defend against Mr. Ryan’s counterclaim, and further announcements will be made. Cautionary Statement: Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release contains statements that constitute “forward-looking statements”. Forward-looking statements are statements that are not historical facts and include, but are not limited to, disclosure regarding possible events, that are based on assumptions and courses of action, and in certain cases, can be identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur, or the negative forms of any of these words and other similar expressions. Forward-looking statements include statements and information regarding the anticipated progression of ongoing litigation with the former President and CEO, the ultimate collection of amounts owing by the former President and CEO, the future plans for the Company, and other forward-looking information. Forward-looking statements are based ...