Signal Gold Inc. (TSX:SGNL) (OTCQX:SGNLF) has completed an upsized private placement to raise $6 million.
The gross proceeds from the Offering will be used primarily to advance activities for development and exploration at the Goldboro Gold Project in Nova Scotia and for working capital and general corporate purposes
“Despite a very challenging market for the industry, we were pleased to see significant institutional interest for the company’s private placement financing even beyond the upsized amount, demonstrating the strong interest in Signal Gold’s continued growth potential. With the financing now completed, the company is well positioned to further enhance the value of its assets going forward, especially at our Goldboro Gold Project,” President and CEO, Kevin Bullock, said.
Signal Gold is focused on the top-tier Canadian mining jurisdictions of Nova Scotia and Newfoundland. The company is advancing the Goldboro Gold Project in Nova Scotia, a significant growth project subject to a positive Feasibility Study.
The company also operates mining and milling operations in the prolific Baie Verte Mining District of Newfoundland which includes the fully permitted Pine Cove Mill, tailings facility and deep-water port, as well as ~15,000 hectares of highly prospective mineral property, including those adjacent to the past producing, high-grade Nugget Pond Mine at its Tilt Cove Gold Project.
For further information please visit: https://www.signalgold.com/
