Spruce Ridge Resources Announces Shares For Debt Agreement


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TSX.V:SHL
03/11/2014 [ACCESSWIRE]

Norfolk County, Ontario / Accesswire / March 11, 2014 - Spruce Ridge Resources Limited (TSXV: SHL) ("Spruce Ridge") announces that it has settled outstanding debt of $75,000 owed to NWT Copper Mines Limited through the issuance of 1,250,000 common shares of the Company at a deemed price of $0.06 per share. The securities issued in connection with the debt settlement are subject to a statutory hold period of four months from the date of issuance in accordance with applicable securities legislation

For further information please contact:

John Ryan, President & CEO

Spruce Ridge Resources Ltd.

Phone: 519-428-5327

Email: shiitakejr@gmail.com

Neither the 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.

CAUTIONARY STATEMENT: Neither the 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. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release contains forward-looking information, which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements regarding exploration results and exploration plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

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