January 30, 2019
January 30, 2019 - Bridgewater, NS - (TSXVSE:SSE) - Silver Spruce Resources Inc. ("Silver Spruce" or the "Company") is pleased to announce that it has completed the sale of the Kay Mine project to Croesus Gold Corp., a private company that intends to go public on a Canadian stock exchange.
The terms of the transaction are as follows:
About Silver Spruce Resources Inc.
Silver Spruce Resources Inc. is a Canadian junior exploration company pursuing exploration and development of the Pino De Plata epithermal silver/base metal/gold project located in the prolific Sierra Madre Occidental region of western Chihuahua State in Mexico.
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. The company seeks Safe Harbour.
Contact:
Silver Spruce Resources Inc.
Karl Boltz, President & CEO, Director
Toll Free: (866) 641-3397
info@silverspruceresources.com
www.silverspruceresources.com
The terms of the transaction are as follows:
- Croesus has assumed the U$450,000 debt provided to the Company to satisfy its original purchase of the patented claims at the project, along with US$31,500 accrued interest, and
- The Company has transferred the patented land and its unpatented claims to Croesus and has received US$27,731.76 cash after the Company's portion of the closing costs were applied, and
- Within six months of closing, and the announcement by Croesus of a public listing, the Company will receive CDN$100,000 cash payment from Croesus and CDN$250,000 worth of Croesus shares upon its listing on a public stock exchange.
About Silver Spruce Resources Inc.
Silver Spruce Resources Inc. is a Canadian junior exploration company pursuing exploration and development of the Pino De Plata epithermal silver/base metal/gold project located in the prolific Sierra Madre Occidental region of western Chihuahua State in Mexico.
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. The company seeks Safe Harbour.
Contact:
Silver Spruce Resources Inc.
Karl Boltz, President & CEO, Director
Toll Free: (866) 641-3397
info@silverspruceresources.com
www.silverspruceresources.com