Signature Resources Announces Equity Financing
Signature Resources (TSXV: SGU) (OTCQB: SGGTF) has announced a non-brokered private placement offering of flow-through and non-flow-through shares at C$0.05 per share, aiming to raise up to C$1,000,000. Insiders are expected to subscribe for at least 20% of the offering.
The proceeds will be allocated as follows:
- 30% for completing the resource model
- 25% for remaining 2024 drilling program expenses
- 45% for general working capital including accrued invoices to a non-arm's length party
Additionally, the company announced a delay in publishing its maiden NI 43-101 resource study, originally scheduled for April 2025. Due to delayed final assay results, the independent consulting firm Watts, Griffis and McQuat (WGM) now expects to complete the report by early summer 2025. Despite this setback, Signature remains optimistic about the 2024 drilling program results and their positive impact on the geological model.
Signature Resources (TSXV: SGU) (OTCQB: SGGTF) ha annunciato un'offerta di collocamento privato non intermediato di azioni flow-through e non flow-through a C$0,05 per azione, con l'obiettivo di raccogliere fino a C$1.000.000. Si prevede che gli insider sottoscriveranno almeno il 20% dell'offerta.
I proventi saranno destinati come segue:
- 30% per completare il modello delle risorse
- 25% per le spese rimanenti del programma di perforazione 2024
- 45% per il capitale di lavoro generale, comprese le fatture accumulate verso una parte non indipendente
Inoltre, l'azienda ha annunciato un ritardo nella pubblicazione del suo primo studio sulle risorse NI 43-101, originariamente previsto per aprile 2025. A causa dei ritardi nei risultati finali delle analisi, la società di consulenza indipendente Watts, Griffis e McQuat (WGM) prevede ora di completare il rapporto entro l'inizio dell'estate 2025. Nonostante questo contrattempo, Signature rimane ottimista riguardo ai risultati del programma di perforazione 2024 e al loro impatto positivo sul modello geologico.
Signature Resources (TSXV: SGU) (OTCQB: SGGTF) ha anunciado una oferta de colocación privada no intermediada de acciones flow-through y no flow-through a C$0,05 por acción, con el objetivo de recaudar hasta C$1.000.000. Se espera que los internos suscriban al menos el 20% de la oferta.
Los ingresos se destinarán de la siguiente manera:
- 30% para completar el modelo de recursos
- 25% para los gastos restantes del programa de perforación 2024
- 45% para capital de trabajo general, incluyendo facturas acumuladas a una parte no independiente
Además, la empresa anunció un retraso en la publicación de su primer estudio de recursos NI 43-101, originalmente programado para abril de 2025. Debido a los retrasos en los resultados finales de los análisis, la firma de consultoría independiente Watts, Griffis y McQuat (WGM) ahora espera completar el informe para principios del verano de 2025. A pesar de este contratiempo, Signature se mantiene optimista sobre los resultados del programa de perforación 2024 y su impacto positivo en el modelo geológico.
Signature Resources (TSXV: SGU) (OTCQB: SGGTF)는 C$0.05의 주식으로 흐름 주식 및 비흐름 주식의 비중개 사모 배치를 발표하였으며, 최대 C$1,000,000을 모금할 계획입니다. 내부자는 최소 20%의 배치에 가입할 것으로 예상됩니다.
수익금은 다음과 같이 배분될 것입니다:
- 30%는 자원 모델 완성을 위해
- 25%는 2024년 드릴링 프로그램의 남은 비용을 위해
- 45%는 비독립 당사자에게 누적된 송장 등을 포함한 일반 운영 자본을 위해
또한, 회사는 원래 2025년 4월로 예정된 첫 번째 NI 43-101 자원 연구 발표가 지연되었다고 발표했습니다. 최종 분석 결과 지연으로 인해 독립 컨설팅 회사인 Watts, Griffis 및 McQuat (WGM)는 이제 2025년 초여름까지 보고서를 완료할 것으로 예상하고 있습니다. 이러한 차질에도 불구하고 Signature는 2024년 드릴링 프로그램 결과와 지질 모델에 미치는 긍정적인 영향을 낙관하고 있습니다.
Signature Resources (TSXV: SGU) (OTCQB: SGGTF) a annoncé une offre de placement privé non intermédié d'actions flow-through et non flow-through à C$0,05 par action, visant à lever jusqu'à C$1.000.000. Il est prévu que les initiés souscrivent au moins 20% de l'offre.
Les produits seront alloués comme suit :
- 30% pour compléter le modèle de ressources
- 25% pour les dépenses restantes du programme de forage 2024
- 45% pour le fonds de roulement général, y compris les factures accumulées à une partie non indépendante
De plus, la société a annoncé un retard dans la publication de sa première étude de ressources NI 43-101, initialement prévue pour avril 2025. En raison des résultats d'analyse finaux retardés, la société de conseil indépendante Watts, Griffis et McQuat (WGM) s'attend désormais à terminer le rapport d'ici début été 2025. Malgré ce contretemps, Signature reste optimiste quant aux résultats du programme de forage 2024 et à leur impact positif sur le modèle géologique.
Signature Resources (TSXV: SGU) (OTCQB: SGGTF) hat eine nicht vermittelte Privatplatzierung von Flow-Through- und Nicht-Flow-Through-Aktien zu C$0,05 pro Aktie angekündigt, mit dem Ziel, bis zu C$1.000.000 zu sammeln. Es wird erwartet, dass Insider mindestens 20% des Angebots zeichnen.
Die Erlöse werden wie folgt verwendet:
- 30% zur Fertigstellung des Ressourcenmodells
- 25% für verbleibende Kosten des Bohrprogramms 2024
- 45% für allgemeine Betriebsmittel, einschließlich aufgelaufener Rechnungen an eine nicht unabhängig handelnde Partei
Darüber hinaus hat das Unternehmen eine Verzögerung bei der Veröffentlichung seiner ersten NI 43-101-Ressourcenstudie angekündigt, die ursprünglich für April 2025 geplant war. Aufgrund verzögerter Endanalysenergebnisse erwartet das unabhängige Beratungsunternehmen Watts, Griffis und McQuat (WGM) nun, den Bericht bis frühsommer 2025 abzuschließen. Trotz dieses Rückschlags bleibt Signature optimistisch bezüglich der Ergebnisse des Bohrprogramms 2024 und deren positiven Auswirkungen auf das geologische Modell.
- Raising up to C$1,000,000 in new capital
- Insider participation of at least 20% in the offering signals management confidence
- Progressing toward completion of maiden NI 43-101 resource report
- Company reports enthusiasm about 2024 drilling program results
- Delay in publishing NI 43-101 resource study from April to early summer 2025
- 45% of proceeds allocated to working capital rather than growth initiatives
- Accrued invoices to non-arm's length party requiring payment
- Delays in receiving final assay results from labs
Toronto, Ontario--(Newsfile Corp. - February 25, 2025) - Signature Resources Ltd. (TSXV: SGU) (OTCQB: SGGTF) (FSE: 3S30) ("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
Each FT Share and NFT share is being offered at C
The net proceeds from the Offering will be used for completing the maiden NI 43-101, final expenses for the 2024 drilling program and general working capital purposes. It is expected that thirty percent of the proceeds will be used for completing the resource model, twenty five percent for the remaining drilling program expenses and forty-five percent for general working capital purposes including accrued invoices to a non-arm's length party. None of the proceeds will be used for investor relations service providers.
Update on Resource Publication
The Company had previously announced its intention to publish its initial NI 43-101 resource study in April of 2025 and that this work is being undertaken by the independent geologic consulting firm of Watts, Griffis and McQuat Limited (WGM). With all the final assays results being delayed and not being able to provide all the final data to our independent consultants until earlier this month, WGM has informed the Company that this has delayed their ability to meet our original publication goals. It is anticipated that they will be able to complete their work and that we should be in the position to publish our maiden resource early summer 2025. We are disappointed that the delay in final assay results from the labs has impacted our scheduling but we remain very enthusiastic about the results we have announced from our 2024 drilling program and how it benefits our geologic model and the NI 43-101 resource report.
About Signature
The Lingman Lake gold property (the "Property") consists of 1,300 staked claims, four freehold fully patented claims and 14 mineral rights patented claims totaling approximately 24,761 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 and four 500 pound bulk samples that averaged 19 grams per tonne of gold. In November of 2023, the Ontario government energized a new 115kV high tension transmission line within 40 km of the historic Lingman Lake Mine (https://www.wataypower.ca/).
To find out more about Signature, visit our website at www.signatureresources.ca, or contact:
Dan Denbow
Chief Executive Officer
416-840-6345
info@signatureresources.ca
or contact :
Renmark Financial Communications Inc.
John Boidman: jboidman@renmarkfinancial.com
Tel: (416) 644-2020 or (212) 812-7680
www.renmarkfinancial.com
Cautionary Notes
Neither 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 forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-Looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions and risks associated with infectious diseases, including COVID-19. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to changes in general economic and financial market conditions, failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/242237
FAQ
How much is Signature Resources (SGGTF) planning to raise in its equity financing?
What will SGGTF use the proceeds from its February 2025 private placement for?
When will Signature Resources (SGGTF) publish its maiden NI 43-101 resource study?
Who is conducting the resource study for Signature Resources (SGGTF)?
What percentage of SGGTF's February 2025 offering is expected to be subscribed by insiders?
