TORONTO, Jan. 02, 2024 (GLOBE NEWSWIRE)– Spruce Ridge Resources Ltd. (“Spruce Ridge” or the “Company “( TSX-V: SHL)reveals that additional to its press launches outdated August 4, 2023 and August 23, 2023, the Company reached a settlement with the previous CEO and director that includes a settlement payment of $180,000 plus HST and specific charge card expenditures to the previous CEO and director, and the transfer from the previous CEO and director to the Company of 5 million shares of the Company with a worth of $425,000 which shares are to be cancelled. The receivable that was examined in the yearly monetary declarations for the year ended April 30, 2023 and impaired in the total of $631,030 has actually been tape-recorded as recuperated in the monetary declarations of the Company for the 6 months ended October 31, 2023. This healing shows acknowledgment of the worth of the shares cancelled and a decrease in the quantity owing equivalent to the settlement payment. The settlement contract was made with no admission of liability of any celebration.
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Cautionary Statement:
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Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is specified in the policies of the TSX Venture Exchange) accepts duty for the adequacy or precision of this press release. No stock market, securities commission or other regulative authority has actually authorized or disapproved the details included herein.
This press release includes declarations that make up “positive declarations”. Positive declarations are declarations that are not historic realities and consist of, however are not restricted to, disclosure relating to possible occasions, that are based upon presumptions and strategies, and in specific cases, can be recognized by the words “anticipates”, “strategies”, “expects”, “thinks”, “means”, “quotes”, “jobs”, “possible” and comparable expressions, or that occasions or conditions “will”, “would”, “might”, “might” or “ought to” take place, or the unfavorable types of any of these words and other comparable expressions. Positive declarations consist of declarations associated to future prepare for the Company, and other positive info. Positive declarations are based upon numerous presumptions consisting of with regard to the expected actions of securities regulators, stock market, and federal government entities, management strategies and timelines, in addition to outcomes of operations, efficiency, organization potential customers and chances. The positive declarations consisted of in this news release are based upon what management of the Company thinks are sensible presumptions on the date of this news release, such presumptions might show to be inaccurate. Positive declarations include understood and unidentified threats and unpredictabilities, they must not read as warranties of future efficiency or outcomes, and they will not always be precise indicators of whether such outcomes will be attained. A variety of aspects might trigger real outcomes, efficiency or accomplishments to vary materially from the outcomes gone over in the positive declarations, consisting of, however not restricted to: a failure to establish and effectively carry out expedition methods; basic service, financial, competitive, political and social unpredictabilities; the absence of readily available capital; effect of the developing circumstance in Ukraine on business of the Company; and other dangers detailed from time-to-time in the Company’s continuous filings with securities regulative authorities, which filings can be discovered at www.sedarplus.caThe Company can not ensure readers that real outcomes will follow these positive declarations. Readers are warned not to position unnecessary dependence on positive declarations in this news release. These positive declarations are made since the date of this press release and the Company disclaims any intent or responsibility to upgrade any positive declaration, whether as an outcome of brand-new details, future occasions or otherwise, unless otherwise needed by law.
Contacts:
Steve Balch, President & & CEO
Phone: 905.407.9586
Email:steve@beci.ca
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