Silver Spruce Resources Completes Second Tranche of Private Placement

Silver Spruce Resources Inc. announced the completion of the second and final tranche of its non-brokered private placement. This tranche involved the issuance of 615,168 units priced at CAD$0.20 each, raising a total of $123,033.60. Each unit includes one common share and one share purchase warrant, with warrants exercisable at $0.30 for four years.

The first tranche, closed on April 1, 2026, issued 3,696,250 units, resulting in total gross proceeds of $862,283.60 for the entire offering. Funds are intended for the exploration of mineral projects and general working capital. The transaction awaits necessary regulatory approvals, including from the TSX Venture Exchange.

In this tranche, a cash commission of $2,400 was agreed upon with an eligible finder, along with 12,000 finder's warrants. Insiders subscribed for 233,750 units during the first tranche, which is considered a related party transaction under Multilateral Instrument 61-101.