Signal Gold Files Early Warning Press Release
Signal Gold Inc. has announced the complete divestment of its stake in Magna Terra Minerals Inc., selling 15,035,795 common shares (18.1% ownership) through Chi-x and Omega alternative markets on December 3, 2024. The transaction generated $225,536.93 at an average price of $0.015 per share.
Signal Gold is currently focused on the Goldboro Gold Project in Nova Scotia, which has a positive Feasibility Study showing an 11-year open pit mine life with average annual gold production of 100,000 ounces and a 2.26 g/t gold grade. The company recently entered into a definitive agreement with NexGold to combine operations, creating a major Canadian gold development entity focused on both the Goliath Gold Complex Project and the Goldboro Project.
Signal Gold Inc. ha annunciato la completa dismissione della sua partecipazione in Magna Terra Minerals Inc., vendendo 15.035.795 azioni ordinarie (18,1% di proprietà) tramite i mercati alternativi Chi-x e Omega il 3 dicembre 2024. L'operazione ha generato $225.536,93 a un prezzo medio di $0,015 per azione.
Signal Gold è attualmente concentrata sul Goldboro Gold Project in Nova Scotia, che ha uno Studio di Fattibilità positivo che mostra una vita mineraria di 11 anni a cielo aperto con una produzione annuale media di oro di 100.000 once e un grado d'oro di 2,26 g/t. Recentemente, l'azienda ha firmato un accordo definitivo con NexGold per combinare le operazioni, creando un'importante entità di sviluppo di oro canadese focalizzata sia sul Goliath Gold Complex Project che sul Goldboro Project.
Signal Gold Inc. ha anunciado la desinversión completa de su participación en Magna Terra Minerals Inc., vendiendo 15.035.795 acciones comunes (18.1% de propiedad) a través de los mercados alternativos Chi-x y Omega el 3 de diciembre de 2024. La transacción generó $225.536,93 a un precio promedio de $0,015 por acción.
Signal Gold se centra actualmente en el Goldboro Gold Project en Nueva Escocia, que tiene un Estudio de Viabilidad positivo que muestra una vida útil de mina a cielo abierto de 11 años con una producción anual promedio de 100.000 onzas de oro y un grado de 2,26 g/t de oro. La empresa firmó recientemente un acuerdo definitivo con NexGold para combinar operaciones, creando una importante entidad de desarrollo de oro canadiense centrada tanto en el Goliath Gold Complex Project como en el Goldboro Project.
Signal Gold Inc.는 Magna Terra Minerals Inc.에 대한 지분을 완전히 매각했다고 발표했으며, 2024년 12월 3일 Chi-x와 Omega 대체 시장을 통해 15,035,795주(18.1% 소유권)를 판매했습니다. 이 거래는 주당 평균 $0.015로 $225,536.93의 수익을 창출했습니다.
Signal Gold는 현재 노바 스코시아의 Goldboro Gold Project에 집중하고 있으며, 이 프로젝트는 11년의 오픈 피트 광산 생명 주기를 보여주는 긍정적인 타당성 조사를 갖추고 있으며, 연간 평균 금 생산량은 100,000온스이고 금 등급은 2.26 g/t입니다. 회사는 최근 NexGold와의 운영 통합을 위한 최종 계약을 체결하여 Goliath Gold Complex Project와 Goldboro Project 모두에 초점을 맞춘 주요 캐나다 금 개발 기관을 창출하고 있습니다.
Signal Gold Inc. a annoncé la cession totale de sa participation dans Magna Terra Minerals Inc., vendant 15.035.795 actions ordinaires (18,1 % de propriété) par le biais des marchés alternatifs Chi-x et Omega le 3 décembre 2024. La transaction a généré 225 536,93 $ à un prix moyen de 0,015 $ par action.
Signal Gold se concentre actuellement sur le Goldboro Gold Project en Nouvelle-Écosse, qui présente une étude de faisabilité positive montrant une durée de vie de mine à ciel ouvert de 11 ans avec une production annuelle moyenne de 100 000 onces d'or et une teneur en or de 2,26 g/t. L'entreprise a récemment conclu un accord définitif avec NexGold pour combiner les opérations, créant ainsi une importante entité de développement aurifère canadienne axée à la fois sur le Goliath Gold Complex Project et le Goldboro Project.
Signal Gold Inc. hat die vollständige Veräußerung seines Anteils an Magna Terra Minerals Inc. angekündigt und am 3. Dezember 2024 15.035.795 Stammaktien (18,1% Eigentum) über die alternativen Märkte Chi-x und Omega verkauft. Die Transaktion generierte $225.536,93 zu einem Durchschnittspreis von $0,015 pro Aktie.
Signal Gold konzentriert sich derzeit auf das Goldboro Gold Project in Nova Scotia, das eine positive Machbarkeitsstudie aufweist, die eine Lebensdauer als Tagesbau von 11 Jahren mit einer durchschnittlichen Jahresproduktion von 100.000 Unzen Gold und einem Goldgehalt von 2,26 g/t zeigt. Das Unternehmen hat kürzlich eine endgültige Vereinbarung mit NexGold getroffen, um die Betriebsabläufe zu kombinieren, und schafft damit eine bedeutende kanadische Goldentwicklungsorganisation, die auf sowohl das Goliath Gold Complex Project als auch das Goldboro Project fokussiert ist.
- Goldboro Project shows promising 11-year mine life with 100,000 oz annual gold production
- Strategic merger with NexGold to create larger development entity
- Company holds 28,525 hectares of exploration land in Goldboro Gold District
- Complete divestment of Magna Terra Minerals stake at relatively low price of $0.015 per share
TORONTO, ON / ACCESSWIRE / December 4, 2024 / Signal Gold Inc. (the "Acquiror") announcesthat it has disposed of ownership and control of 15,035,795 common shares (the "Subject Shares") of Magna Terra Minerals Inc. (the "Company") on December 3, 2024 through the facilities of Chi-x and Omega alternative markets. The Subject Shares represented approximately 18.1 % of all the issued and outstanding common shares of the Company as of December 3, 2024. As a result of the disposition of the Subject Shares, the Acquiror no longer holds any securities of the Company.
The aggregate consideration received for the Subject Shares was
The holdings of securities of the Corporation by the Acquiror were managed for investment purposes. The Acquiror does not intend to acquire additional securities of the Corporation at this time.
Each of the Company's and the Acquiror's head office address is located at 20 Adelaide Street East, Suite 401, Toronto, ON M5C 2T6.
This press release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which also requires a report to be filed with regulatory authorities in each of the jurisdictions in which the Corporation is a reporting issuer containing information with respect to the foregoing matters (the "Early Warning Report"). A copy of the Early Warning Report will appear with the Corporation's filings on the System for Electronic Document Analysis and Retrieval + (SEDAR+) and may be obtained upon request from Robert Dufour, Chief Financial Officer of the Acquiror, tel. 416-403-6622.
ABOUT SIGNAL GOLD
Signal Gold is advancing the Goldboro Gold Project in Nova Scotia, a significant growth project subject to a positive Feasibility Study which demonstrates an approximately 11-year open pit life of mine with average gold production of 100,000 ounces per annum and an average diluted grade of 2.26 grams per tonne gold. (Please see the ‘NI 43-101 Technical Report and Feasibility Study for the Goldboro Gold Project, Eastern Goldfields District, Nova Scotia' on January 11, 2022, for further details). The Goldboro Project has significant potential for further Mineral Resource expansion, particularly towards the west along strike and at depth, and the Company has consolidated 28,525 hectares (~285 km2) of prospective exploration land in the Goldboro Gold District.
On October 10, 2024, Signal Gold announced that it had entered into a definitive agreement to combine with NexGold to create one of Canada's most advanced near-term gold developers. The combined entity will be focused on advancing NexGold's Goliath Gold Complex Project in Northern Ontario and Signal's Goldboro Project in the Goldboro Gold District in Nova Scotia. Pursuant to the definitive agreement, NexGold will acquire all the issued and outstanding common shares of Signal Gold in exchange for common shares of NexGold by way of a plan of arrangement.
FORWARD-LOOKING STATEMENTS
This news release may contain "forward-looking information" within the meaning of applicable Canadian and United States securities legislation, including, but not limited to, the Mine Life, Economics, and other details regarding the Feasibility Study. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Signal Gold to be materially different from those expressed or implied by such forward-looking information, including risks associated with the exploration, development and mining such as economic factors as they effect exploration, future commodity prices, changes in foreign exchange and interest rates, actual results of current production, development and exploration activities, government regulation, political or economic developments, environmental risks, permitting timelines, capital expenditures, operating or technical difficulties in connection with development activities, employee relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of resources, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in Signal Gold's annual information form for the year ended December 31, 2023, available on www.sedarplus.ca. Although Signal Gold has attempted to identify important factors, assumption and risks that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors, assumptions and risks that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Signal Gold does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
This news release has been reviewed and approved by Kevin Bullock, P. Eng., President and CEO with Signal Gold Inc., a "Qualified Person", under National Instrument 43-101 Standard for Disclosure for Mineral Projects.
FOR ADDITIONAL INFORMATION CONTACT:
Signal Gold Inc. | Reseau ProMarket Inc. |
SOURCE: Signal Gold Inc.
View the original press release on accesswire.com
FAQ
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