Signature Resources Provides an Update on the Equity Financing
Signature Resources (SGGTF) has announced an increase in its non-brokered private placement from C$1,000,000 to C$1,400,000 due to strong demand. The offering includes flow-through shares and non-flow-through units priced at C$0.05 each.
Each non-flow-through unit comprises one common share and half a warrant, with each whole warrant allowing purchase of an additional share at C$0.08 within 12 months. Company insiders are expected to participate in approximately 50% of the offering.
The proceeds allocation is planned as follows:
- 30% for completing resource model
- 25% for remaining 2024 drilling program expenses
- 45% for general working capital including accrued invoices to a non-arm's length party
Signature Resources (SGGTF) ha annunciato un aumento del suo collocamento privato non mediato da C$1.000.000 a C$1.400.000 a causa della forte domanda. L'offerta include azioni flow-through e unità non flow-through, ciascuna con un prezzo di C$0,05.
Ogni unità non flow-through è composta da un'azione ordinaria e da metà di un warrant, con ogni warrant intero che consente l'acquisto di un'azione aggiuntiva a C$0,08 entro 12 mesi. Si prevede che i membri interni dell'azienda partecipino a circa il 50% dell'offerta.
L'allocazione dei proventi è pianificata come segue:
- 30% per completare il modello delle risorse
- 25% per le spese rimanenti del programma di perforazione del 2024
- 45% per il capitale di lavoro generale, comprese le fatture accumulate verso una parte non indipendente
Signature Resources (SGGTF) ha anunciado un aumento en su colocación privada no mediada de C$1.000.000 a C$1.400.000 debido a la fuerte demanda. La oferta incluye acciones flow-through y unidades no flow-through, cada una con un precio de C$0,05.
Cada unidad no flow-through consiste en una acción común y media garantía, con cada garantía completa que permite la compra de una acción adicional a C$0,08 dentro de 12 meses. Se espera que los miembros internos de la empresa participen en aproximadamente el 50% de la oferta.
La asignación de los ingresos está planificada de la siguiente manera:
- 30% para completar el modelo de recursos
- 25% para los gastos restantes del programa de perforación de 2024
- 45% para capital de trabajo general, incluyendo facturas acumuladas a una parte no independiente
Signature Resources (SGGTF)는 강력한 수요로 인해 비중개 사모 배치 금액을 C$1,000,000에서 C$1,400,000으로 증가했다고 발표했습니다. 이번 제안에는 각각 C$0.05에 가격이 책정된 흐름을 통한 주식과 비흐름 주식 단위가 포함됩니다.
각 비흐름 주식 단위는 하나의 보통주와 반 개의 워런트로 구성되며, 각 전체 워런트는 12개월 이내에 C$0.08에 추가 주식을 구매할 수 있게 합니다. 회사 내부자는 약 50%의 제안에 참여할 것으로 예상됩니다.
수익 배분은 다음과 같이 계획되어 있습니다:
- 30%는 자원 모델 완성을 위해
- 25%는 2024년 잔여 시추 프로그램 비용을 위해
- 45%는 일반 운영 자본, 독립적이지 않은 당사자에게 발생한 청구서를 포함하여
Signature Resources (SGGTF) a annoncé une augmentation de son placement privé non médié par un courtier, passant de 1 000 000 C$ à 1 400 000 C$ en raison d'une forte demande. L'offre comprend des actions flow-through et des unités non flow-through, chacune au prix de 0,05 C$.
Chaque unité non flow-through se compose d'une action ordinaire et de la moitié d'un warrant, chaque warrant complet permettant l'achat d'une action supplémentaire à 0,08 C$ dans les 12 mois. On s'attend à ce que des initiés de l'entreprise participent à environ 50 % de l'offre.
L'allocation des produits est prévue 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 envers une partie non indépendante
Signature Resources (SGGTF) hat eine Erhöhung seiner nicht vermittelten Privatplatzierung von C$1.000.000 auf C$1.400.000 aufgrund der starken Nachfrage angekündigt. Das Angebot umfasst Flow-Through-Aktien und nicht Flow-Through-Einheiten, die jeweils zu C$0,05 bewertet sind.
Jede nicht Flow-Through-Einheit besteht aus einer Stammaktie und einem halben Warrant, wobei jeder gesamte Warrant den Kauf einer zusätzlichen Aktie zu C$0,08 innerhalb von 12 Monaten ermöglicht. Es wird erwartet, dass Unternehmensinsider an etwa 50% des Angebots teilnehmen.
Die Mittelverwendung ist wie folgt geplant:
- 30% für den Abschluss des Ressourcenmodells
- 25% für die verbleibenden Ausgaben des Bohrprogramms 2024
- 45% für allgemeines Betriebskapital, einschließlich aufgelaufener Rechnungen an eine nicht unabhängige Partei
- Strong investor demand led to 40% increase in offering size from C$1M to C$1.4M
- Significant 50% insider participation demonstrates management confidence
- Proceeds will fund completion of maiden NI 43-101 resource model
- Potential dilution from new share issuance
- Up to 7% of proceeds may be used for finder's fees
- Includes payments to non-arm's length party from working capital portion
Toronto, Ontario--(Newsfile Corp. - March 24, 2025) - Signature Resources Ltd. (TSXV: SGU) (OTCQB: SGGTF) (FSE: 3S30) ("Signature" or the "Company) is pleased to announce that, due to strong demand, it is increasing the size of its previously announced non-brokered private placement of flow-through shares ("FT Shares") and non-flow-through units ("NFT Units") from gross proceeds of up to C
As announced on February 24, 2025, the Offering was initially structured to include FT Shares and NFT common shares, each priced 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. The Company may pay up to
The Offering is subject to the acceptance of the TSX Venture Exchange. All securities issued pursuant to the Offering will be subject to a statutory hold period of four months and one day from the date of issuance, in accordance with applicable securities laws.
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
210-912-4356
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/245755
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