Spruce Ridge Resources Ltd. Completes Private Placement Financing

Provided By GlobeNewswire

Last update: Dec 21, 2023

TORONTO, Dec. 21, 2023 (GLOBE NEWSWIRE) -- Spruce Ridge Resources Ltd. (“Spruce” or the “Company”) (TSXV: SHL) is pleased to announce that it has closed the previously announced non-brokered private placement of 30,000,000 units (“Units”), which were sold at $0.05 per Unit for gross proceeds of $1,500,000 (the “Offering”). Each Unit consists of one common share (“Common Share”) and one half of a common share purchase warrant. Each whole common share purchase warrant (“Warrant”) entitles the holder to acquire one Common Share for $0.10 for a period of two years after the closing of the Offering.