Signature Resources Provides an Update on the Equity Financing
Signature Resources (TSXV: SGU, OTCQB: SGGTF) has modified its previously announced non-brokered private placement terms. The company is maintaining its target of raising up to C$1,000,000 through an offering of flow-through shares at C$0.05 per share and non-flow-through units at C$0.05 per unit.
Each non-flow-through unit now includes one common share and half a warrant, with each whole warrant exercisable at C$0.08 for 12 months. Insiders are expected to participate in at least 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 (TSXV: SGU, OTCQB: SGGTF) ha modificato i termini del suo collocamento privato non mediato precedentemente annunciato. L'azienda mantiene l'obiettivo di raccogliere fino a C$1.000.000 attraverso un'offerta di azioni flow-through a C$0,05 per azione e unità non flow-through a C$0,05 per unità.
Ogni unità non flow-through ora include un'azione comune e mezzo warrant, con ogni warrant intero esercitabile a C$0,08 per 12 mesi. Si prevede che gli insider partecipino ad almeno il 50% dell'offerta.
La distribuzione dei proventi è pianificata come segue:
- 30% per completare il modello di risorse
- 25% per le spese rimanenti del programma di perforazione 2024
- 45% per capitale circolante generale, comprese le fatture accumulate verso una parte non indipendente
Signature Resources (TSXV: SGU, OTCQB: SGGTF) ha modificado los términos de su colocación privada no mediada previamente anunciada. La empresa mantiene su objetivo de recaudar hasta C$1.000.000 a través de una oferta de acciones flow-through a C$0,05 por acción y unidades no flow-through a C$0,05 por unidad.
Cada unidad no flow-through ahora incluye una acción común y medio warrant, con cada warrant completo ejercitable a C$0,08 durante 12 meses. Se espera que los internos participen en al menos el 50% de la oferta.
La asignación de los ingresos se planea 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
Signature Resources (TSXV: SGU, OTCQB: SGGTF)는 이전에 발표된 비중개 사모 배치 조건을 수정했습니다. 회사는 C$0.05의 유상증자 주식과 C$0.05의 비유상증자 단위 제공을 통해 최대 C$1,000,000을 모금할 계획입니다.
각 비유상증자 단위는 이제 하나의 보통주와 반 개의 워런트를 포함하며, 각 전체 워런트는 12개월 동안 C$0.08에 행사할 수 있습니다. 내부자는 최소 50%의 제안에 참여할 것으로 예상됩니다.
수익 배분은 다음과 같이 계획되어 있습니다:
- 30%는 자원 모델 완성에 사용
- 25%는 2024년 드릴링 프로그램의 남은 비용에 사용
- 45%는 일반 운영 자본에 사용, 비독립 당사자에 대한 미지급 청구서 포함
Signature Resources (TSXV: SGU, OTCQB: SGGTF) a modifié les termes de son placement privé non intermédié précédemment annoncé. L'entreprise maintient son objectif de lever jusqu'à C$1.000.000 grâce à une offre d'actions flow-through à C$0,05 par action et d'unités non flow-through à C$0,05 par unité.
Chaque unité non flow-through comprend désormais une action ordinaire et une demi-warrant, chaque warrant entier pouvant être exercé à C$0,08 pendant 12 mois. On s'attend à ce que les initiés participent à au moins 50% de l'offre.
La répartition 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 (TSXV: SGU, OTCQB: SGGTF) hat die Bedingungen seiner zuvor angekündigten nicht vermittelte Privatplatzierung geändert. Das Unternehmen hält an seinem Ziel fest, bis zu C$1.000.000 durch ein Angebot von Flow-Through-Aktien zu C$0,05 pro Aktie und Nicht-Flow-Through-Einheiten zu C$0,05 pro Einheit zu sammeln.
Jede Nicht-Flow-Through-Einheit umfasst jetzt eine Stammaktie und eine halbe Warrant, wobei jede ganze Warrant für C$0,08 innerhalb von 12 Monaten ausgeübt werden kann. Es wird erwartet, dass Insider an mindestens 50% des Angebots teilnehmen.
Die Verwendung der Erlöse ist wie folgt geplant:
- 30% für den Abschluss des Ressourcenmodells
- 25% für die verbleibenden Kosten des Bohrprogramms 2024
- 45% für allgemeines Betriebskapital, einschließlich aufgelaufener Rechnungen an eine nicht unabhängige Partei
- Significant insider participation (50%) demonstrates management confidence
- Structured financing plan with clear allocation of proceeds
- Progress towards maiden NI 43-101 resource model completion
- Potential dilution from new share issuance
- Warrants create additional future dilution risk
- Related party payments included in working capital use
Toronto, Ontario--(Newsfile Corp. - March 11, 2025) - Signature Resources Ltd. (TSXV: SGU) (OTCQB: SGGTF) (FSE: 3S30) ("Signature" or the "Company") is announcing that is has amended the terms of the non-brokered private placement announced on February 25, 2025 for gross proceeds of up to C
All securities issued pursuant to this proposed private placement will be subject to the Exchange Hold Period and legend accordingly.
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
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/244228
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