Spruce Ridge Resources Limited: Spruce Ridge Announces Closing of Non-Brokered Flow-Through Financing
PUSLINCH, ON / ACCESSWIRE / January 20, 2021 / Spruce Ridge Resources Ltd. (TSXV:SHL) ("Spruce Ridge" or the "Company") is pleased to announce that it has closed the final tranche of its previously announced non-brokered private placement of flow-through shares (see News Release dated January 11, 2021) for gross proceeds of $1,006,640 consisting of 7,189,000 Flow-Through shares at a price of $0.14 per share. The total amount raised was $1,616,640.
In connection with the final tranche private placement, the Company will pay $48,612 in finders fees and will issue 286,960 broker warrants exercisable at $0.14 for 24 months from the date of issue, as permitted by the policies of the TSX Venture Exchange. All securities issued pursuant to the private placement will be subject to a four-month hold period.