Signature Resources Ltd. Announces Results of 2022 Annual General & Special Meeting of Shareholders and Grant of Stock Options
Signature Resources Ltd. Announces Results
of 2022 Annual General & Special Meeting of
Shareholders and Grant of Stock Options
Toronto, Ontario--(Newsfile Corp. - May 27, 2022) - Signature Resources Ltd. (TSXV: SGU) (OTCQB:
SGGTF) (FSE 3S3) ("Signature" or the "Company") is pleased to announce the results of voting at its
annual general and special meeting of the shareholders which was held May 26, 2022 (the "Meeting").
All matters submitted to the shareholders, as set out in the Company's Notice of Meeting and
Management Information Circular, were approved by the requisite majority of votes cast at the Meeting.
Election of Directors
Shareholders approved the election of the seven (7) Directors as set out below:
Paolo Lostritto
Robert Vallis
Stephen Timms
Lisa Davis
Dan Denbow
John Hayes
Priya Patil
Appointment of Auditors
McGovern Hurley LLP, Chartered Professional Accountants was appointed auditors of the Company for
the ensuring year at the renumeration to be fixed by the Directors.
Approval of the Share Consolidation
Shareholders approved the consolidation of the common shares on the basis of one (1) new common
share for up to five (5) old common shares.
The Board may, in its sole discretion, determine not to
proceed with the Consolidation without further approval or action by or prior notice to shareholders.
Approval of Incentive Stock Option Plan
Shareholders approved the Incentive Stock Option Plan as set out in the Company's Management
Information Circular.
Stock Options
The Company has also granted a combined total of 4,000,000 incentive stock options to the Board and
Management of the Company.
The options have an exercise price of $0.06, expire five years from the
date of issuance, and vest 25% immediately, and 25% annually thereafter through to the third
anniversary
.
About Signature
The Lingman Lake gold 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 (177 drill holes) 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 discla ims 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/125552