NexGold and Signal Gold Upsize Financing to $17 Million

NexGold Mining Corp. and Signal Gold Inc. have announced an increase in their Concurrent Financing, raising funds to a potential C$17 million. This decision follows significant demand and involves the acquisition of all Signal shares by NexGold. This move intends to enhance their gold development projects in Northern Ontario and Nova Scotia.

The revised financing converts the private placement to a subscription receipt financing, allowing Signal to issue 103,388,857 subscription receipts, which will automatically convert into NFT Units. Proceeds from this financing, along with a flow-through offering, will fund project exploration, debt retirement, and working capital.

Approvals from the Toronto Stock Exchange and other regulatory bodies are still required for the completion of this financing. The anticipated closure of the financing is set for early November 2024.