Signature Resources Announces Closing of Oversubscribed Private Placement Led BY Commodity Discovery Fund, Funds Managed BY Sprott Asset Management LP & Crescat Capital
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TSXV-SGU OTCQB-SGGTF FSE-3S3
366 BAY STREET, SUITE 200, TORONTO, ONTARIO M5H 4B2
www.signatureresources.ca
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SIGNATURE RESOURCES ANNOUNCES CLOSING OF OVERSUBSCRIBED PRIVATE
PLACEMENT LED BY COMMODITY DISCOVERY FUND, FUNDS MANAGED BY
SPROTT ASSET MANAGEMENT LP & CRESCAT CAPITAL
Toronto, Ontario, July 12, 2021. Signature Resources Ltd. (TSXV: SGU, OTCQB: SGGTF, FSE 3S3)
("Signature" or the "Company") is pleased to announ ce that, further to its press release dated June 21 ,
2021, it has closed an over-subscribed non-brokered private placement (the “Offering”) effective July 9,
2021 by issuing 13,107,312 non-flow-through units ( the “NFT Units”) and 10,965,591 flow-through units
(the ”FT Units”) for aggregate gross proceeds of $3,906,492. The financing included Commodity Discovery
Fund (“CDF”) out of the Netherlands and was further bolstered by additional support from existing
shareholders including funds managed by Sprott Asset Management LP and Crescat Capital.
“We are incredibly happy to welcome CDF as a new in vestor, as well as the continued
support from our current investors. With the additi onal funds raised, Signature is fully
funded for the completion of the ongoing support ca mp expansion and its planned
10,000-meter drill program expected to commence lat e Q3/21. Two Company-owned
diamond drill rigs will be used for the expanded fall program. In addition, the ground IP
team is in the process of completing the 3D IP program from which the data will be used
to enhance the fall program’s drill targeting. Regi onal airborne LIDAR and geophysics
in conjunction with ground prospecting are scheduled to commence in July and continue
over the summer and fall to establish other regiona l perspective drill targets on the
company’s 100% owned land. Nordmin Engineering cont inues to work with the
Company to convert historical data into modern standards in preparation for a maiden
NI 43-101 resource by late 2022.”
Robert Vallis, P.Eng, MBA – President & CEO, Director
Each FT Unit was issued at a price of C$0.165 and w as comprised of one common share of the Company
and one-half non flow-through common share purchase warrant (a “FT Warrant”) with an exercise price
of C$0.25 per FT Warrant. Concurrently, NFT Units were issued at a price of $0.16 per NFT Unit consisting
of one common share and one-half common share purchase warrant (a “NFT Warrant”) with an exercise
price of C$0.22 per NFT Warrant. Both the FT Warrants and the NFT Warrants expire two-years following
the closing date of the Offering.
The net proceeds from the Offering will be used for general corporate purposes but primarily used to
expand the current exploration efforts focused on the Lingman Lake Gold Project.
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In connection with the Offering, Cormark Securities Ltd. and Amvest Capital (acting though Four Points
Capital Partners, LLC) were paid finders fees. The Company paid aggregate cash finder's fees of $101,500
and issued 782,443 finder's warrants (each, a "Finder's Warrant "). Each Finder's Warrant is exercisable to
acquire one Common Share at a price of $0.16 (for F inder's Warrants issued pursuant to the sale of HD
Units) and $0.165 (for Finder's Warrants issued pursuant to the sale of FT Units) for a period of 12 months
following closing of the Offering.
All securities issued pursuant to the Offering, inc luding the Finder’s Warrants, are subject to a stat utory
hold period ending November 10, 2021. The Offering is subject to final acceptance of the TSX Venture
Exchange.
About Signature
The Lingman Lake gold property consists of 1,434 st aked claims, four free hold full patented claims an d
14 mineral rights patented claims totaling approximately 27,448 hectares. The property hosts an historical
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 prio r data and reports obtained and prepared by previou s
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 Gold Property " dated January 31, 2020, prepared by John M.
Siriunas, P.Eng. and Walter Hanych, 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
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
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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 condit ions, 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 in cludes, but is not limited to, final acceptance by the TSX Venture
Exchange, the use of proceeds of the Offering, the Company’s objectives, goals or future plans, statem ents, 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 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 completion of the drill program, cha nges in general economic and financial market condi tions, failure to
identify mineral resources, failure to convert esti mated mineral resources to reserves, the inability to complete a feasibility
study which recommends a production decision, the p reliminary nature of metallurgical test results, de lays 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 p eoples, uncertainties relating to the availability and costs of financing
needed in the future, changes in equity markets, in flation, changes in exchange rates, fluctuations in commodity prices,
delays in the development of projects, capital and operating costs varying significantly from estimate s 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 f orward-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 assuran ce can be given that such events will occur in the disclosed time frames
or at all. The Company disclaims any intention or o bligation to update or revise any forward-looking i nformation, whether
as a result of new information, future events or ot herwise, other than as required by law.