Signature Resources Announces Closing of Additional Private Placement
TSXV-SGU OTCQB-SGGTF FSE-3S3
366 BAY STREET, SUITE 200, TORONTO, ONTARIO M5H 4B2
www.signatureresources.ca
Not for distribution to U.S. news wire services or dissemination in the United States
SIGNATURE RESOURCES ANNOUNCES CLOSING OF ADDITIONAL PRIVATE
PLACEMENT
Toronto, Ontario, December 17, 2020 – Signature Resources Ltd. (TSXV: SGU, OTCQB: SGGTF , FSE 3S3)
("Signature" or the " Company ") is pleased to announce that his has closed a non -brokered private
placement financing raising gross proceeds of $1,00 0,000 (the " Offering ). Pursuant to the Offering, the
Company issued 999,945 hard dollar units (" HD Units ") at a price of $0.11 per HD Unit and 6,846,200
flow-through units ("FT Units ") at a price of $0.13 per FT Unit.
“As a result of a sizable unsolicited interest, Signature is pleased to further enhance its
balance sheet strength at a significant premium to its most recent financing. It is
important to highlight that the additional funds wi ll be used to further enhance the
camp optimization and logistics for the upcoming fi eld program. In addition, a
reputable third-party group has been selected to pr epare an updated technical report
and will be announced shortly.”
Robert Vallis, P.Eng, MBA – President, CEO, & Director
Each HD Unit issued pursuant to the Offering, consi sts of one common share of the Company (each, a
"Common Share ") and one Common Share purchase warrant (each, a " Warrant "). Each FT Unit consists
of one Common Share issued on a flow-through basis (" FT Share ") and one half of one (1/2) Warrant. Each
whole Warrant issued will be exercisable into one Common Share at a price of $0.20 until April 17, 2022.
The FT Shares will qualify as “flow-through shares” (within the meaning of the Income Tax Act (Canada)).
In connection with the Offering, the Company paid a ggregate cash finder's fees of $62,300 and issued
205,386 finder's warrants (each, a " Finder's Warrant "). Each Finder's Warrant is exercisable to acquire
one Common Share at a price of $0.13 for a period of 16 months following closing of the Offering.
The use of proceeds will be mainly focused on explo ration efforts at the Lingman Lake Gold Project in
Ontario and general corporate purposes.
All securities issued in the Offering, including the Finder's Warrants, are subject to a statutory hold period
expiring on April 18, 2021.
TSXV-SGU OTCQB-SGGTF FSE-3S3
366 BAY STREET, SUITE 200, TORONTO, ONTARIO M5H 4B2
www.signatureresources.ca
This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities,
nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale
is unlawful. These securities have not been, and will not be, registered under the United States Securities
Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States
or to U.S. persons unless registered or exempt therefrom.
The purchase of 386,309 HD Units under the Offering by certain officers and directors for aggregate gross
proceeds of $42,494, constituted a “related party t ransaction” as such term is defined by Multilateral
Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (“ MI 61-101 ”). The
Company was exempt from the MI 61-101 valuation and minority approval requirements for related party
transactions in connection with the Offering under sections 5.5(a) and 5.7(1)(a) of MI 61-101 as neith er
the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value
of the consideration for, the transaction, insofar as it involves certain officers and directors, exceeds 25%
of the Company’s market capitalization (as determined under MI 61-101).
About Signature
The Lingman Lake gold property consists of 622 staked claims, four free hold full patented claims and 14
mineral rights patented claims totaling approximate ly 12,148 hectares. The property hosts an historica l
estimate of 234,684 oz of gold* (1,063,904 tonnes g rading 6.86 g/t with 2.73 gpt cut-off) and includes
what has historically been referred to as the Lingm an Lake Gold Mine, an underground substructure
consisting of a 126.5-meter shaft, and 3-levels at 46-meters, 84-meters and 122-meters depths.
This historical resource estimate is based on prior data and reports obtained and prepared by previous
operators, and information provided by governmental authorities. A Qualified Person has not done
sufficient work to verify the classification of the mineral resource estimates in accordance with curr ent
CIM categories. The Company is not treating the his torical estimate as a current NI 43-101 mineral
resource estimate. Establishing a current mineral r esource estimate on the Lingman Lake deposit will
require further evaluation, which the Company and i ts consultants intend to complete in due course.
Additional information regarding historical resource estimates is available in the technical report entitled,
"Technical Report on the Lingman Lake Property" dated December 20, 2013, prepared by Walter Hanych,
P.Geo., and Frank Racicot, P.Geo., available on the Company's SEDAR profile at www.sedar.com
To find out more about Signature Resources Limited, visit our website at www. signatureresources .ca , or
contact:
Jonathan Held
Chief Financial Officer
416-270-9566
Cautionary Notes
TSXV-SGU OTCQB-SGGTF FSE-3S3
366 BAY STREET, SUITE 200, TORONTO, ONTARIO M5H 4B2
www.signatureresources.ca
Neither TSX Venture Exchange nor its Regulation Ser vices Provider (as that term is defined in the poli cies of the TSX
Venture Exchange) accepts responsibility for the ad equacy or accuracy of this news release.
This news release contains forward-looking statemen ts which are not statements of historical fact. For ward-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 expect s a stated condition or result to occur. Forward-lo oking statements
may be identified by such terms as “believes”, “ant icipates”, “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 t hat actual results will meet management’s expectati ons. Risks,
uncertainties and other factors involved with forwa rd-looking information could cause actual events, r esults, performance,
prospects and opportunities to differ materially fr om those expressed or implied by such forward-looki ng information.
Forward looking information in this news release includes, but is not limited to, use of any private placement proceeds raised,
final acceptance of regulatory filings by the TSX-V , the Company’s objectives, goals or future plans, statements, exploration
results, potential mineralization, the estimation o f mineral resources, exploration and mine developme nt plans, timing of
the commencement of operations and estimates of mar ket conditions. Factors that could cause actual res ults to differ
materially from such forward-looking information in clude, but are not limited to changes in general ec onomic and financial
market conditions, failure to identify mineral reso urces, failure to convert estimated mineral resourc es to reserves, the
inability to complete a feasibility study which rec ommends a production decision, the preliminary natu re of metallurgical
test results, delays in obtaining or failures to ob tain required governmental, environmental or other project approvals,
political risks, inability to fulfill the duty to a ccommodate First Nations and other indigenous peopl es, uncertainties relating
to the availability and costs of financing needed i n 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 in volved in the mineral exploration and development i ndustry, and those
risks set out in the Company’s public documents fil ed 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 o f the date of this news release, and no assurance c an 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.