Signature Resources Announces Equity Financing and Option Grant
TSXV-SGU OTCQB-SGGTF FSE-3S3
Signature Resources Announces Equity Financing and Option Grant
Toronto, Ontario, November 6, 2023, 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$600,000 (the “Offering”). Nearly
twenty percent 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$0.0275 per share and each NFT Share is being offered at
a price of $0.025 per share. 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 resource modelling and related deposit
characterization, designing the 2024 drill program, ongoing exploration data compilation, and
general working capital purposes. It is expected that twenty percent of the proceeds will be used
for general working capital purposes with the remainder spent on exploration and deposit
definition activities. Approximately twenty percent will be paid to consultants for resource
modelling and drill program design activities. None of the proceeds will be used for payments to
non-arm’s length parties or for investor relations service providers.
Option Grant
The Board of Directors has granted a combined total of 2,100,000 incentive stock options to the
Board and Management of the Company. The options have an exercise price of $0.05,expire
five years from the grant date. The options vest 25% immediately and 25% annually thereafter
until the third anniversary.
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 2 4,761
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.
To find out more about Signature, visit our website at www.signatureresources.ca, or contact:
Dan Denbow
Interim CEO
416-840-6345
TSXV-SGU OTCQB-SGGTF FSE-3S3
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 expres sed 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 commo dity 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.