Silver Spruce Receives Financing Mandate Letter from M Securities Limited in Hong Kong

BRIDGEWATER, NOVA SCOTIA--(Marketwired - Dec. 11, 2017) - Silver Spruce Resources Inc. ("Silver Spruce" or the "Company") (TSX VENTURE:SSE)(FRANKFURT:S6Q) is pleased to announce that it has received a financing mandate letter from M Securities Limited ("Agent"), a full service, retail brokerage firm in Hong Kong, to provide up to US $1.8 million in gross proceeds from a private placement equity financing ("Offering") of up to 30 million units ("Units") at a price of US $0.06 per Unit. Each Unit consists of one common share of the Company ("Common Share") and one Common Share purchase warrant exercisable at US$0.10 per Common Share for one year from the closing date of the Offering ("Closing") The securities issued pursuant to the Offering will be subject to a four month + 1 day hold period from the date of Closing under applicable securities laws. A placement fee will be paid to the Agent by the Company. The Agent will receive 10% of the capital raised by the Agent and 1% of the capital raised by the Company under the Offering.