Silver Spruce Resources Inc V.SSE

Alternate Symbol(s): SSEBF

Metals & Mining Industrial Metals & Minerals

Silver Spruce Resources Inc. is a Canadian junior exploration company holding 100% of the Melchett Lake Zn-Au-Ag project in northern Ontario. The Project is an advanced precious and base metal property located in the Thunder Bay Mining District, northern Ontario, Canada. The Project covers 11,236 hectares with volcanogenic massive sulphide (VMS) and Au targets located in east to southeast-striking, subvertical to moderately Archean metavolcanic quartz-sericite schists to coarse fragmental units. The Company intends to own 100% interest in the Mystery Au project in the Exploits Subzone Gold Belt, Newfoundland and Labrador; 100% interest in the Pino de Plata Ag project located 15 kilometers (kms) west of Coeur Mining's Palmarejo Mine in western Chihuahua, Mexico; 50% interest in the Jackie Gold project, located 5 km south-southwest of the towns of Tepoca and Carrizal, and up to 50% interest in Diamante Au-Ag project located from 5 to 15 kms northwest from Nicho deposit in Sonora, Mexico.

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Silver Spruce Resources Inc

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Comment by Wonderwonon Mar 23, 2017 1:07pm

210 Views

Post# 26021061

RE:RE:RE:RE:RE:Great deal for property owner

The company might have an acceleration type clause that if the shares trade over 22.5 for a certain period of time they cany force conversion (i doubt it), but it is implicit that the vendor is always the party that determines whether to convert or not. This is why it is such a great deal for vendor - he is guaranteed cash (or the property back) plus he participates for two years on any blue sky potential. The only risk he has is if SSE destroys the property and has no cash left to restore the property to original condition.

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