Spruce Ridge Resources Ltd. Announces Stock Option and RSU Grant

TORONTO, Dec. 13, 2023 (GLOBE NEWSWIRE) -- Spruce Ridge Resources Ltd. (“Spruce” or the “Company”) (TSXV: SHL) announces the Company has granted a total of 9,250,000 incentive stock options (the “Options”) to purchase common shares of the Company (“Common Shares”) to certain directors and officers of the Company pursuant to the Company’s long-term incentive plan (the “LTIP”). Each Option is exercisable into one Common Share at an exercise price of $0.08 per Common Share for a period of three (3) years from the date of grant. The Options vest in full on the date of grant. All of the Options expire on December 13, 2026.

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