TORONTO, Nov. 30, 2023 (GLOBE NEWSWIRE) -- Spruce Ridge Resources Ltd., (TSXV: SHL) ("Spruce" or the "Company") is pleased to announce the results of its annual and special meeting of shareholders held in Toronto on November 30, 2023 (the "Meeting"). At the Meeting, shareholders of the Company approved all matters of business as presented to the shareholders in the management information circular dated October 20, 2023 (the "Circular"), except a special resolution approving the name change of the Company, and a special resolution authorizing the board to increase its size by up to one third between shareholder meetings. The following individuals were re-elected to the board of directors of the Company, being the same individuals as set out in the Circular: Stephen Balch, J. Birks Bovaird, H. Vance White and Michael Dehn. The Company is pleased to see continued shareholder support and confidence in the current management team, and thanks all shareholders who participated in the Meeting.

Contacts:
Steve Balch, President & CEO
Phone: 905.407.9586
Email: steve@beci.ca

Cautionary Statement:

Neither 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 news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

This news release contains statements that constitute "forward-looking statements". Forward-looking statements are statements that are not historical facts and include, but are not limited to, disclosure regarding possible events, that are based on assumptions and courses of action, and in certain cases, can be identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur, or the negative forms of any of these words and other similar expressions. Forward-looking statements include statements related to future plans for the Company, and other forward-looking information. Forward-looking statements are based on various assumptions including with respect to the anticipated actions of securities regulators, stock exchanges, and government entities, management plans and timelines, as well as results of operations, performance, business prospects and opportunities. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions on the date of this news release, such assumptions may prove to be incorrect. Forward-looking statements involve known and unknown risks and uncertainties, they should not be read as guarantees of future performance or results, and they will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results, performance or achievements to differ materially from the results discussed in the forward-looking statements, including, but not limited to: an inability to develop and successfully implement exploration strategies; general business, economic, competitive, political and social uncertainties; the lack of available capital; impact of the evolving situation in Ukraine on the business of the Company; and other risks detailed from time-to-time in the Company's ongoing filings with securities regulatory authorities, which filings can be found at . The Company cannot assure readers that actual results will be consistent with these forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements in this press release. These forward-looking statements are made as of the date of this news release and the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, unless otherwise required by law.