SRCGF - Spruce Ridge Applies to Trade on the OTCQB Market
(TheNewswire)
August 10, 2021 – TheNewswire - Spruce Ridge Resources Ltd. (TSXV:SHL) (OTC:SRCGF) - (“Spruce Ridge” orthe “Company”) has applied for its commonshares to be trading on the OTCBQ Venture Market, a United Statestrading platform operated by the OTC Markets Group in New York. Thecompany will provide further information once its common sharescommence trading.
The OTCBQ is the premiere marketplace for early stageand developing U.S. and international companies that are committed toproviding a high-quality trading and information experience for theirU.S. investors. The OTCBQ quality standards provide a strong baselineof transparency as well as the technology and regulation to improvethe information and trading experience for investors. Investors canfind real-time quote and market information for the companyat OTCBQ’s website.
The company believes that trading on the OTCBQ willprovide additional liquidity and increase its visibility within theU.S. capital markets. Spruce Ridge will continue to trade on the TSXVenture Exchange under its symbol SHL.
About Spruce Ridge Resources Ltd.
Spruce Ridge holds a 100% interest in the Great BurntCopper-Gold Property in Central Newfoundland which covers a series ofcopper ± gold rich VMS deposits. Spruce Ridge recently acquired certain mineral leases with petroleum and naturalgas rights, plus oil and gas wells, pipelines and facilities in theUnity area of southwestern Saskatchewan. Included in the purchaseare 793 ha of petroleum and natural gas rights from surface to thebase of the Mannville Group with an average working interest of 84%. The purchase includes 5 active oil wells, 10 suspended oil and gaswells, heavy oil facilities, pipelines, and an active produced waterdisposal well. Spruce Ridge Resources sold itsinterest in in the Crawford Nickel-CobaltSulphide project to Canada Nickel CompanyInc . butretained ground which contains VMS and gold targets. In 2015, Spruce Ridge optioned its Viking/Kramer goldproperties in Western Newfoundland to Anaconda Mining Inc.
For further information please contact:
John Ryan, President and CEO
Spruce Ridge Resources Ltd.
Phone: 519-822-5904
Email: spruceridgeresources@gmail.com
Forward-Looking Statements
Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in the policiesof the TSX Venture Exchange) accepts responsibility for the adequacyor accuracy of this release. This News Release includes certain"forward-looking statements" which are not comprised ofhistorical facts. Forward-looking statements include estimates andstatements that describe the Company’s future plans, objectives orgoals, including words to the effect that the Company or managementexpects a stated condition or result to occur. Forward-lookingstatements may be identified by such terms as “believes”,“anticipates”, “expects”, “estimates”, “may”,“could”, “would”, “will”, or “plan”. Sinceforward-looking statements are based on assumptions and address futureevents and conditions, by their very nature they involve inherentrisks and uncertainties. Although these statements are based oninformation currently available to the Company, the Company providesno assurance that actual results will meet management’sexpectations. Risks, uncertainties and other factors involved withforward-looking information could cause actual events, results,performance, prospects and opportunities to differ materially fromthose expressed or implied by such forward-looking information.Forward looking information in this news release includes, but is notlimited to, the intention to complete the transactions, and theCompany’s objectives, goals or future plans. Factors that couldcause actual results to differ materially from such forward-lookinginformation include, but are not limited to an inability to completethe transactions, failure to identify mineral resources, failure toconvert estimated mineral resources to reserves, delays in obtainingor failures to obtain required regulatory, governmental, environmentalor other project approvals, political risks, inability to fulfill theduty to accommodate First Nations and other indigenous peoples,uncertainties relating to the availability and costs of financingneeded in the future, changes in equity markets, inflation, changes inexchange rates, fluctuations in commodity prices, delays in thedevelopment of projects, capital and operating costs varyingsignificantly from estimates and the other risks involved in themineral exploration and development industry, and those risks set outin the Company’s public documents filed on SEDAR. Although theCompany believes that the assumptions and factors used in preparingthe forward-looking information in this news release are reasonable,undue reliance should not be placed on such information, which onlyapplies as of the date of this news release, and no assurance can begiven that such events will occur in the disclosed time frames or at all. The Company disclaimsany intention or obligation to update or revise any forward-lookinginformation, whether as a result of new information, future events orotherwise, other than as required by law.
This news release does notconstitute an offer to sell or a solicitation of an offer to buy norshall there be any sale of any of the securities in any jurisdictionin which such offer, solicitation or sale would be unlawful, includingany of the securities in the United States of America. The securitieshave not been and will not be registered under the United StatesSecurities Act of 1933, as amended (the “1933 Act”) or any statesecurities laws and may not be offered or sold within the UnitedStates or to, or for account or benefit of, U.S. Persons (as definedin Regulation S under the 1933 Act) unless registered under the 1933Act and applicable state securities laws, or an exemption from suchregistration requirements is available.
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