Silver Spruce Completes $976,000 Private Placement

Silver Spruce Resources Inc. has announced the successful closing of a non-brokered private placement, generating gross proceeds of $976,000. The placement involved the issuance of 976,000 units at $0.10 each. Each unit comprises a common share and a warrant, with the warrant exercisable at $0.15 over three years.

As part of the transaction, the corporation paid $22,440 in finder fees and granted 224,400 finder warrants, also exercisable at $0.15 for a similar period. Both warrants and finder warrants are subject to a hold period expiring May 17, 2026.

The proceeds will fund exploration projects and general corporate purposes. Final approval from the TSX Venture Exchange is pending. The securities involved are not registered under U.S. securities legislation, thus not offered in the U.S.