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Signal Gold Inc. announced the registration of the Environmental Assessment (EA) for the Goldboro Gold Project on June 10, 2022, initiating a 50-day review period. The EA demonstrates the company's commitment to mitigating environmental impacts and engaging the Mi'kmaq community.
The project is expected to provide significant socioeconomic benefits for the community and long-term value for shareholders. A 30-day period for Crown Consultation with the Mi'kmaq will follow, with further guidance expected by July 30, 2022.
Signal Gold has successfully completed a private placement, raising approximately $6 million. The offering included the issuance of 3,652,375 flow-through units at $0.56 each and 8,070,298 units at $0.49 each. Proceeds will primarily support development and exploration at the Goldboro Gold Project in Nova Scotia. Each unit comes with a warrant that allows purchase of additional shares at $0.74 until June 2025, with an acceleration clause if share prices exceed $1.24 for 10 consecutive days. The offering is pending final approval from the Toronto Stock Exchange.
Signal Gold Inc. (TSX:SGNL)(OTCQX:SGNLF) announced the appointment of Brian Jackson as Project Director for the Goldboro Gold Project, effective July 4, 2022. Jackson, an experienced industry leader, will oversee all aspects of the project's development. Glen Kuntz, Chief Technical and Innovation Officer of Ivanhoe Electric, also joins the company's Technical Advisory Committee. This leadership will bolster the project's advancement towards detailed engineering and eventual commercial production, enhancing Signal Gold's position in the gold mining sector.
Signal Gold Inc. (TSX:SGNL)(OTCQX:SGNLF) submitted an Environmental Assessment Registration Document (EARD) for its Goldboro Gold Project on June 3, 2022. This project, fully owned by Signal Gold, is undergoing a Class 1 Environmental Assessment in Nova Scotia. The EARD identifies potential environmental effects, indicating minimal adverse impacts with appropriate mitigation. The project's socioeconomic impact is significant, with expected spending of approximately $1.7 billion in goods and services, potentially contributing $2.1 billion to provincial GDP and creating 735 new jobs.