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Silver Spruce Resources Inc. Announces Closing of $976,000 Non-Brokered Private Placement
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Silver Spruce Resources Inc. Announces Closing of $976,000 Non-Brokered Private Placement
BEDFORD, NS / ACCESS Newswire / January 16, 2026 / (TSXV:SSE) - Silver Spruce Resources Inc. ("Silver Spruce" or the "Corporation") is pleased to announce that it has closed today its previously announced non-brokered private placement for gross proceeds of $976,000 (the "Offering").
Pursuant to the Offering, the Corporation issued an aggregate of 976,000 units of the Corporation ("Units") at an issue price of $0.10 per Unit. 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 $0.15 per Warrant Share for a period of 3 years from the closing of the Offering. The Common Shares and Warrants issued under the Offering will be subject to a statutory hold period expiring on May 17, 2026.
In connection with the Offering, the Corporation has paid a total of $22,440 in finder fees and issued a total of 224,400 finder warrants (each, a "Finder Warrant") to eligible arm's length finders ("Finders"). Each Finder Warrant will entitle the Finder to purchase one common share of the Corporation for $0.15 for a period of three years following the closing of the Offering. The Finder Warrants will be subject to a statutory hold period expiring on May 17, 2026.
The net proceeds from the Offering will be used for exploration of the Corporation's mineral projects and general working capital purposes. The Offering is subject to the final approval of the TSX Venture Exchange.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended the ("U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Silver Spruce Resources
Silver Spruce Resources Inc. is a Canadian junior exploration company. The Corporation's diversified exploration portfolio now includes:
Jackie Au-Ag Project - Early-stage epithermal project with high-grade surface sampling and strong structural targets located
Pino de Plata Ag Project - High-grade silver property with historic artisanal mining located 15 kilometres west of Coeur Mining's Palmarejo Mine in western Chihuahua, Mexico
Melchett Lake VMS Zn-Ag-Au-Cu Project - Polymetallic project with historical drilling in the Thunder Bay Mining District of Ontario
Silver Spruce continues to investigate opportunities that Management has identified or that have been presented to the Corporation for consideration.
Contact:
Kevin O'Connor, Director
(312) 509-5972
[email protected]
www.silverspruceresources.com
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 release.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements". Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, statements regarding the Offering.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate.
SOURCE: Silver Spruce Resources, Inc.
View the original press release on ACCESS Newswire
P.M.Martin--SMC
