Spruce Ridge Resources Ltd. (TSXV:SHL) enter Letter of Intent to acquire Shamrock Nickel Sulphide Property from Northwest Nickel Corp for $ 0.39 million on March 11, 2024. As part of consideration Spruce transferring to Northwest Nickel 100,000 common shares in the capital of Canada Nickel Company Inc. (TSXV:CNC) and $0.01 million cash payment to Northwest Nickel, issuing to Northwest Nickel an aggregate of 2,500,000 common shares in the capital of Spruce (TSXV:SHL). Granting to Northwest Nickel a 2.0% net smelter returns royalty (NSR?) with the option to repurchase 50% of the NSR for consideration of $1,000,000.

All securities issuable in connection with the Acquisition will be subject to a hold period of four months and one day after closing.