Silver Spruce Resources Inc. Announces Share Consolidation Proposal

Silver Spruce Resources Inc. is proposing to consolidate its common shares on a one-for-fifteen basis. Shareholders will vote on the proposal at the annual and special meeting on October 29, 2024. Approval from the TSX Venture Exchange is also required.

The board believes that the consolidation will aid in securing future financing and business development. By increasing the price per share, the company aims to attract institutional and other investors, potentially expanding its investor base.

If implemented, the consolidation would reduce the number of issued and outstanding shares from 322,547,832 to approximately 21,503,188. The effective date will be determined upon Board approval and filing the articles of amendment. The company name will remain unchanged.