NexGold and Signal Gold Finalize Concurrent Financing for $18.5 Million

NexGold Mining Corp. and Signal Gold Inc. have successfully completed an upsized concurrent financing, amassing $18.5 million in gross proceeds. The venture, aimed at merging NexGold and Signal, is set to enhance gold development projects in Northern Ontario and Nova Scotia. NexGold's flow-through unit private placement raised $8,085,000 through the sale of 10,106,250 units, each priced at $0.80. These units comprise one flow-through share and a warrant for future share purchase.

Signal conducted a subscription receipt private placement, generating $10,452,601.87. This involves converting receipts into common shares upon meeting specific transactional conditions. The funds will support debt retirement, project enhancements, and general corporate needs. Sprott Asset Management, a significant investor, increased its stake in NexGold through this financing round.