Source: Signature Resources
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  • Signature Resources (SGU) has closed its upsized private placement for gross proceeds of $2,447,336.10
  • The company issued 19,692,335 non-flow-through shares and 18,082,800 flow-through shares
  • Proceeds will be used to complete an initial NI 43-101 mineral resource estimate for the Lingman Lake Gold Project and for general corporate purposes
  • Signature Resources is a gold exploration company
  • Signature Resources Ltd. (SGU) is currently trading at C$0.08 per share

Signature Resources (SGU) has closed its previously announced and upsized private placement for gross proceeds of $2,447,336.10.

The company issued 19,692,335 non-flow-through shares and 18,082,800 flow-through shares. Each NFT share was issued at a price of C$0.06 and each FT share was issued at a price of C$0.07.

Signature Resources paid finder’s fees of $8,261.40 and issued 137,690 finder warrants.

All securities issued are subject to a statutory four-month hold period ending July 10, 2022. Robert Vallis, President, CEO, and Director commented on the financing.

“This financing is designed to allow the company to complete an initial NI 43-101 mineral resource estimate for our 100 per cent-owned Lingman Lake Gold Project. We are undertaking this effort to determine the potential scale of the currently drilled mineralization at Lingman Lake and provide further guidance for focusing our 2022 exploration work planned for later this year.” 

Signature Resources is a gold exploration company focused on the acquisition and exploration of mineral properties in Canada. 

The  Lingman Lake Gold Project in Ontario consists of 1,434 staked claims, four freehold full patented claims and 14 mineral rights patented claims totalling approximately 27,113 hectares.

Signature Resources Ltd. (SGU) is unchanged, trading at C$0.08 per share at 4:15 pm EST.

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