|February 19, 2019|
Kevin R. O'Connor Acquires Shares in Silver Spruce Resources, Inc.
February 19, 2019 -- Chicago, IL -- Kevin R. O'Connor ("Acquirer"), through his wholly owned corporation, Cedar Forest, Inc., a corporation incorporated in the state of Illinois ("Cedar Forest"), has acquired a total of 9,919,142 shares in Silver Spruce Resources, Inc. (TSXVSE:SSE) ("SSE"), described as follows. On July 12, 2017 Acquirer acquired 8,649,142 Shares of SSE, as approved by TSXVSE. Details are identified in SSE's May 24, 2017 press release, and are summarized as follows: Acquirer sold to SSE 70.84 acres of land with patented mining claims in Arizona (Kay Mine) in exchange for a purchase price of $977,000 USD, which was comprised of $500,000 USD cash and 8,649,142 Shares (at the time of a deemed value of $.075 CAD per Share). Separately on May 28, 2018, Acquirer acquired 1,270,000 Shares with Warrants of SSE through a private placement at a Share price of $.05 CAD. Each Warrant entitles the holder thereof to acquire one Share at a price of $.06 CAD, valid for 60 months. As a result of the acquisitions, the Acquirer, though his wholly owned corporation, Cedar Forest, now owns and exercises control over an aggregate of 9,919,142 Shares representing an interest of approximately 14.468% undiluted of SSE currently issued and outstanding Shares, and approximately 11.8 % of the SSE's Shares on a fully diluted basis.
You can view the Next News item: Tue Feb 26, 2019, Silver Spruce Resources Inc. Announces Closing of Non --Brokered Private Placement
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