|November 29, 2019|
Silver Spruce Terminates Agreement for Cocula Project
November 29, 2019 - Bedford, NS - (TSXV:SSE) -- Silver Spruce Resources Inc. ("Silver Spruce" or the "Company") has concluded its due diligence and will not negotiate a Definitive Purchase Agreement to acquire the Cocula project ("Cocula") in Jalisco State, Mexico.
Subject to its binding Letter of Agreement ("LOA") with ProDeMin, SA de CV ("ProDeMin") signed on July 13, 2019 and amended on September 10, 2019 ("Amendment"), Silver Spruce provided written notification on November 28, 2019 to ProDeMin to terminate the LOA and Amendment to acquire Cocula.
As per the Amendment, such written notice may be provided at any time prior to midnight ET, November 30, 2019, without further recourse or liability, and with no further obligation to assume the Contract.
About Silver Spruce Resources Inc.
Silver Spruce Resources Inc. is a Canadian junior exploration company which has signed a Definitive Agreement to acquire 100% of the Melchett Lake Zn-Au-Ag project in northern Ontario and is pursuing development of the Pino De Plata Ag project in western Chihuahua State, Mexico. 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.
Silver Spruce Resources Inc.
Karl Boltz, President/CEO/Director
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