BRIDGEWATER, NOVA SCOTIA--(Marketwired - April 8, 2015) - Further to missing the March 2, 2015 deadline for filing financial statements for the year ended October 31, 2014, Silver Spruce Resources (TSX VENTURE:SSE) ("Silver Spruce or the "Company") requested and was issued a Management Cease Trade Order (MCTO) by the Nova Scotia Securities Commission. The MCTO only prohibits management officers Stephan Jedynak and Gordon Barnhill from trading in or purchasing the securities of Silver Spruce Resources Inc. until two business days after all filings are brought up to date.
In a media release dated March 12, 2015 it was indicated that the underlying causes for the delay in filing have been addressed and that the Company expected to have all of its filing up to date within forty-five days. Silver Spruce confirms that significant progress is being made and that it expects to have its filing up to date within this time frame. In this context, Silver Spruce Resources also wishes to report that due to the late filing of its year end statements, filing of its 1st quarter financial statement (due April 1, 2015) has also been delayed. This filing will be completed on or very shortly after the expected year end filing.
Until such time as all filings are up to date the Company will continue to provide bi-weekly status reports to its shareholders and in so doing, comply with the Alternative Information Guidelines under National Policy 12-203.
About Silver Spruce Resources Inc.
Silver Spruce is a diversified junior exploration company with a road accessible, low sulphidation, epithermal, gold/silver prospect in eastern Newfoundland, which has potential for bonanza grades in both gold and silver - the Big Easy, and for the longer term, a portfolio of uranium (Snegamook, A7 (Fishawk Lake), Double Mer, Mount Benedict, CMBJV) and rare earth (Pope's Hill) projects in Labrador.
Shareholders and other interested parties can view our Information Circular, and our financial statements on www.sedar.com or on our website at www.silverspruceresources.com. Other information, including pictures from our projects, including Big Easy, can also be found on the Silver Spruce website.
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.