Signal Gold Exercises Option and Upsizes Concurrent Financing, Confirms Conversion of Subscription Receipts and Updated Credit Facility Restructuring Terms

Not for distribution to U.S. newswire services or dissemination in the United States

TORONTO, Dec. 11, 2024 (GLOBE NEWSWIRE) -- NexGold Mining Corp. (“NexGold”) (TSXV: NEXG; OTCQX: NXGCF) and Signal Gold Inc. (“Signal Gold”) (TSX: SGNL; OTCQB: SGNLF) are pleased to announce that, further to the companies’ joint news releases dated October 10, 2024, October 23, 2024 and November 6, 2024, Signal Gold has exercised its upsize option and on December 10, 2024 closed an additional tranche (“Tranche 2”) of its previously announced oversubscribed concurrent financing of subscription receipts (“Hard Dollar Financing”). Tranche 2 consisted of an issuance of an aggregate of 3,044,228 subscription receipts (“Subscription Receipts”) at a price of $0.08705 per Subscription Receipt, for gross proceeds of $265,000.05. Together with the first tranche of the Hard Dollar Financing, the full Hard Dollar Financing consisted of an aggregate of 123,120,068 Subscription Receipts for aggregate gross proceeds of $10,717,601.92. The Hard Dollar Financing is being carried out in connection with the proposed plan of arrangement, pursuant to which NexGold will acquire all the shares of Signal Gold to create a near-term gold developer, advancing the Goliath Gold Complex Project (“Goliath Project”) in Northern Ontario and the Goldboro Project (“Goldboro Project”) in the historic Goldboro Gold District in Nova Scotia (the “Transaction”).

Read more at globenewswire.com