BRIDGEWATER, NS / ACCESSWIRE / April 8, 2019 / Silver Spruce Resources Inc. ("Silver Spruce" or the "Company") (TSX-V: SSE) (Frankfort: S6Q1) is pleased to announce that Croesus Gold Corp. announced that it entered a Letter of Intent for a proposed Qualifying Transaction to become listed on the TSXV via reverse takeover. The completion of the transaction ensures that Silver Spruce will receive $100,000 cash payment and receive $250,000 worth of shares of the new company once it is listed. These cash and share payments were terms of the sale of the Kay Mine project to Croesus (please see the Company's news release of January 30, 2019).
"The Croesus announcement is a positive step toward bolstering our balance sheet and increasing our diversity of assets. We believe the historic resource at the Kay Mine to be robust in grade and open to expansion, with significant exploration activities. We extend best wishes to Croesus as they advance on the project," stated Karl Boltz, CEO of Silver Spruce.
The full text of the Croesus announcement on MarketWatch can be found at this link: Click Here
About Silver Spruce Resources Inc.
Silver Spruce Resources Inc. is a Canadian junior exploration company pursuing development of the Pino De Plata project, located in the prolific Sierra Madre Occidental region of western Chihuahua State in Mexico. The Company also holds an indirect interest in the Kay Mine project according to terms of the sale agreement with Croesus Gold Corp., which was announced in the Company's news release on January 30, 2019. Silver Spruce Resources Inc. continues to investigate opportunities that Management has identified or that have been presented to the Company for consideration.
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.
