107 0 Kommentare Signature Resources Announces $3.5 Million Non-Brokered Private Placement LED by Commodity Discovery Fund, Funds Managed by Sprott Asset Management LP & Crescat Capital

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TORONTO, June 21, 2021 (GLOBE NEWSWIRE) -- Signature Resources Ltd. (TSXV: SGU, OTCQB: SGGTF, FSE 3S3) ("Signature" or the "Company") is pleased to announce, subject to the approval of the TSX Venture Exchange, a non-brokered private placement of flow-through units (the ”FT Units”) and non-flow-through units (the “NFT Units”) for gross proceeds of up to C$3,500,000 (the “Offering”). Commodity Discovery Fund (“CDF”) out of the Netherlands has agreed to lead participation in the financing. This new interest from CDF was further bolstered by additional support from existing shareholders including funds Managed by Sprott Asset Management LP and Crescat Capital.

Each FT Unit is being offered at a price of C$0.165 and will be 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 will be offered 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 (the “Project”). The Company now controls approximately 90% of the Lingman Lake greenstone belt in Northwestern Ontario, Canada.

“The Commodity Discovery Fund is a Dutch-based fund that seeks investment opportunities in new discoveries with a tier 1 potential, where early positions in undervalued companies are taken that are most likely to get taken over by producing companies seeking to replenish their reserves. The Signature project provides for precisely this outlook, in a known mining region hosting deposits with an interesting geological signature and mineralization. We feel the Signature Resources management team will be able to draw on its vast experience in order to advance the projects in order to create value for investors.”