Business
Signature Resources Announces an Upsizing of the Recently Announced Equity Financing up To C$2,000,000
Toronto, Ontario--(Newsfile Corp. - February 25, 2022) - Signature Resources Ltd. (TSXV: SGU) ...
About this update from Signature Resources Ltd.
[{"type":"text","content":"Signature Resources Announces an Upsizing of the Recently Announced Equity Financing up To C$2,000,000Toronto, Ontario--(Newsfile Corp. - February 25, 2022) - Signature Resources Ltd. (TSXV: SGU) (OTCQB: SGGTF) (FSE 3S3) (\"Signature\" or the \"Company\") is pleased to announce that due to strong demand, the Company's previously announced non-brokered private placement equity financing has been upsized. The non-brokered private placement will consist of both flow-through shares (\"FT Shares\") and non-flow-through shares (\"NFT Shares\") for gross proceeds of up to C$2,000,000 (the \"Offering\").As a result of a large institutional order, each FT Share is now being offered at C$0.07 per share and each NFT Share is still being offered at a price of $0.06 per share. The net proceeds from the Offering will be used for the previously announced initial NI 43-101 resource estimate (NR 2022-01: February 9, 2022) and related deposit characterization, ongoing exploration data compilation and general corporate purposes.About Signature The Lingman Lake gold property consists of 1,434 staked claims, four freehold fully patented claims and 14 mineral rights patented claims totaling approximately 27,113 hectares. The property includes what has historically been referred to as the Lingman Lake Gold Mine, an underground substructure consisting of a 126.5-metre shaft, and 3-levels at 46-metres, 84-metres and 122-metres depths. There has been over 28,000 metres of historical drilling done on the Property. To find out more about Signature Resources Ltd., visit our website at www.signatureresources.ca, or contact: Donna McLeanChief Financial Officer 416.642-1807 Ext. [email protected] Cautionary NotesNeither 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 news release.This news release contains forward-looking statements which are not statements of historical fact. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as \"believes\", \"anticipates\", \"expects\",...