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BRIDGEWATER, NOVA SCOTIA--(Marketwired - Jan 15, 2016) - Silver Spruce Resources ("Silver Spruce" or the "Company") (TSX VENTURE:SSE) (FRANKFURT:S6Q) is pleased to announce that it has completed the settlement for outstanding indebtedness first announced on July 3, 2015 by obtaining shareholder approval at it's recently completed annual meeting December 2, 2015.The outstanding amount of $90,000.00 will be settled through the issuance of 1,800,000 common shares of the company at a deemed price of $0.05 per common share (the debt settlement).
This debt settlement is subject to TSX-Venture Exchange approval and the shares will be subject to a four month hold period.
About Silver Spruce Resources Inc.
Silver Spruce is a junior exploration company with a diverse portfolio of uranium and rare earth element prospects in Labrador and a history of gold exploration on the island of Newfoundland Labrador and in Mexico. Shareholders and other interested parties can view the Company's Information Circular and financial statements on www.sedar.com or on our website at www.silverspruceresources.com. Neither the 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.
Silver Spruce Resources Inc.
President/CEO and Director