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

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.)