Signature Resources closes $3.41M private placement

Executive Summary

• Signature Resources Ltd. has closed an upsized non-brokered private placement, issuing a total of 52,000,000 units (including charity, flow-through, and non-flow-through units) for gross proceeds of $3,417,835.
• The offering includes a related-party transaction where insiders acquired 37% of the total offering, and the net proceeds will fund the 2025 diamond drilling program (approx. 3,000 meters) at the Lingman Lake gold project and general working capital.
• Each unit consists of one common share and one-half of one warrant, with warrants exercisable at $0.10 per share for 12 months.

Key Details

• Total Gross Proceeds: $3,417,835.
• Units Issued:
  • 23,000,000 charity flow-through units.
  • 10,458,401 flow-through units.
  • 18,533,298 non-flow-through units.
  • Note: Totals exclude non-flow-through units issued for the share-for-debt transaction (initial tranche).
• Pricing:
  • Charity flow-through units: $0.077 per unit.
  • Flow-through units: $0.06 per unit.
  • Non-flow-through units: $0.055 per unit.
• Warrant Terms: Each unit includes one-half of one common-share purchase warrant. Each whole warrant allows acquisition of one common share at $0.10 per share for 12 months from issuance.
• Hold Period: Four months (statutory hold period of four months and one day).
• Insider Participation: Insiders acquired 37% of the offering (6,250,067 flow-through units and 15,200,000 non-flow-through units), constituting a related-party transaction under TSX-V Policy 5.9 and MI 61-101.
• Total Securities Issued: 58,358,095 common shares and 29,179,047 warrants.
• Use of Proceeds:
  • Exploration activities on the Lingman Lake gold project (including the 2025 drill campaign, core evaluation, geologic studies, and metallurgical program).
  • General working capital (approx. one-third of net proceeds).
  • No proceeds used for investor relations service providers.
• Previous Tranches:
  • Sept. 25, 2025: Announced initial offering for $3 million.
  • Oct. 22, 2025: Amended offering to include charity units and increased target to $3.7 million.
  • Initial tranche closed with issuance of 6,363,636 non-flow-through units for settlement of $350,000 in indebtedness.
• Finder’s Fees: $3,000 in cash and 50,000 broker warrants (exercise price $0.06, term 24 months).
• Regulatory Status: Subject to acceptance by the TSX Venture Exchange.

Notable Quotes

• "We are very pleased to announce the closing of this financing as it allows us to commence our 2025 diamond drilling program of approximately 3,000 metres. The drill program will be targeting a large 3-D IP/mag anomaly that is downplunge from higher-grade structures drilled to date. We believe will demonstrate the ability to greatly expand the Lingman Lake deposit at depth and laterally to the west." — J. Dan Denbow, CFA, President, CEO, and Director.