Business
Signature Resources Announces $1,000,000 Equity Financing
Toronto, Ontario--(Newsfile Corp. - February 15, 2022) - Signature Resources Ltd. (TSXV: SGU...
About this update from Signature Resources Ltd.
[{"type":"text","content":"Signature Resources Announces $1,000,000 Equity FinancingToronto, Ontario--(Newsfile Corp. - February 15, 2022) - Signature Resources Ltd. (TSXV: SGU) (OTCQB: SGGTF) (FSE: 3S3) (\"Signature\" or the \"Company\") is pleased to announce that the Company is offering a non-brokered private placement of flow-through shares (\"FT Shares\") and non-flow-through shares (\"NFT Shares\") for gross proceeds of up to C$1,000,000 (the \"Offering\"). Over half of the Offering is expected to be subscribed for by members of the Company's board of directors and management.Each FT Share is being offered at C$0.08 per share and each NFT Share is 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 - February 9, 2022) and related deposit characterization, ongoing exploration data compilation and general corporate purposes.About Signature The Lingman Lake gold property (the \"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\", \"estimates\", \"may\", \"could\", \"would\", \"will\", or \"plan\". Since forwa...