Silver Spruce Resources Inc. announced a private placement of up to 40,000,000 flow-through units at an issue price of CAD 0.025 per unit for the gross proceeds of CAD 1,000,000 on June 15, 2023. Each unit consisted of one flow-through common share and a warrant to purchase an additional common share at an exercise price of CAD 0.05 per share for a period of 24 months. Finder’s fees will be paid subject to regulatory approval.

All the securities issued pursuant to the private placement will have a hold period expiring 24 months from the date of closing. The transaction is expected to close on June 30, 2023.