Silver Spruce Resources Inc. Announces Cancellation of the Proposed Private Placement and Termination of the Agreement With M Securities Limited

BRIDGEWATER, NOVA SCOTIA--(Marketwired - March 9, 2018) - Silver Spruce Resources Inc. (TSX VENTURE:SSE)(FRANKFURT:S6Q) ("Silver Spruce" or the "Company") announces that despite efforts, M Securities Limited, a full service retail brokerage firm in Hong Kong, (the "Agent") has been unable to complete the private placement that the Company previously announced on December 11, 2017. As a result, the Company has chosen to cancel the offering and terminate the letter agreement with the Agent. The net proceeds of the financing were to be used to pay for the drill program at Pino de Plata, the work program at the Kay Mine to qualify the historic resource and for general working capital.