Signature Resources Announces $1,000,000 Equity Financing
Signature Resources Announces $1,000,000
Equity Financing
Toronto, 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 McLean
Chief Financial Officer
(416) 642-1807 Ext. 307
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/113786