Northwire Canada EditionSaturday, July 11, 2026
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Financings

Silver Spruce Resources Inc. Announces Non-Brokered Private Placement for Proceeds of up to $2,000,000

SSE · Price

Executive Summary

  • Silver Spruce Resources Inc. announced a non‑brokered private placement to raise up to $2,000,000 by issuing 10,000,000 units at $0.20 per unit.
  • Each unit consists of one common share and one common share purchase warrant (exercise price $0.30, 4‑year term).
  • Proceeds are earmarked for exploration of the company’s mineral projects and general working capital; closing is expected around March 27 2026, subject to TSX‑V approval and other conditions.

Key Details

  • Units Offered: Up to 10,000,000 units @ $0.20 each → maximum gross proceeds $2,000,000.
  • Unit Composition: 1 common share + 1 warrant (right to purchase one additional common share at $0.30).
  • Warrant Terms: Exercise price $0.30 per share; exercisable for four years from the closing date.
  • Closing Date: Expected on or about March 27, 2026, subject to customary closing conditions and TSX‑V acceptance.
  • Use of Proceeds: Primarily for exploration of existing mineral projects and general working capital.
  • Finder Compensation: Eligible finders may receive cash commissions and/or finder’s warrants per TSXV policies.
  • Related Party Participation: Insiders may participate; the transaction qualifies for exemptions under MI 61‑101 because insider purchases will not exceed 25% of market capitalization.
  • Statutory Hold Period: Securities subject to a four‑month‑plus‑one‑day hold period in Canada.
  • Regulatory Disclaimers: Not an offer or solicitation in the United States; securities not registered under U.S. securities laws.

Notable Quotes

(No executive quotes were included in the release.)

Read the original news release →

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