Silver Spruce Resources Inc V.SSE

Silver Spruce Grants Stock Options

[tickerhit]

2020-06-16 10:37:45 AM ET (ACCESSWIRE)

BEDFORD, NS / ACCESSWIRE / June 16, 2020 / Silver Spruce Resources Inc. (TSXV:SSE)(Frankfort:S6Q1) (the "Company") announced today that it has granted 6,750,000 stock options to directors and consultants of the Company with an exercise price of $0.05 per share and an expiry date of June 16, 2025. The stock options will vest 1/3 on the date of the grant, 1/3 on the first anniversary of the grant and the final 1/3 on the second anniversary of the grant. About Silver Spruce Resources Inc. Silver Spruce Resources Inc. is a Canadian junior exploration company which has signed Agreements to acquire 100% of the Melchett Lake Zn-Au-Ag project in northern Ontario and with Colibri Resource Corp. to acquire 50% interest in Yaque Minerales S.A de C.V. holding the El Mezquite Gold project, a drill-ready precious metal project in Sonora, Mexico. The Company also is pursuing exploration of the drill-ready and permitted Pino De Plata Ag project in western Chihuahua, 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. Contact: Silver Spruce Resources Inc. Brian Penney, Chairman and CEO(866) [e-mail] SOURCE: Silver Spruce Resources Inc.

[Silverichman]

A good move - note that they don't pay out regular wages (see their latest financial statement). The options are the incentive to get Pino and the other properties going, so all are on the same boat. And note that options bring in cash, and are issued above current market price, so I think this is a good move!

[rarihokwats]

  I don't think the options are the incentive for Pino and the other properties. And I think 5 cents per share  is way too cheap. And they only bring in cash if and when exercised. If and when they find  lots of silver etc, and the price would jump to , let's say 50 cents, these people are more than handsomely rewarded.

[treasurehunters]

rarihokwats, I would have to agree with you on this.  Not much incentive there. Now, if the options where, let's say 15 cents, then they would have lots of incentive. I believe that is exactly what you were kind of saying, correct?

[rarihokwats]

Correct. That would mean( eg the 15 cents options)  management has a lot of faith in the future.  Now it seems like they do not expect booming results. Or, if they do, they want to reward themselves handsomely. But hey, let them surprise us. GLTA