Signal Gold Transitions To The OTCQB Market

Rhea-AI Summary

Signal Gold Inc. (TSX:SGNL)(OTCQB:SGNLF) has announced its transition from the OTCQX to the OTCQB Venture Market in the United States, effective July 25, 2024. This move is due to the company no longer meeting the minimum bid requirements for the OTCQX platform. Signal Gold will continue trading under the symbol 'SGNLF' on the OTCQB and maintain its listing on the Toronto Stock Exchange under 'SGNL'.

The company is advancing the Goldboro Gold Project in Nova Scotia, which has received environmental assessment approval. The project's Feasibility Study indicates an 11-year open pit mine life with average gold production of 100,000 ounces per annum and an average diluted grade of 2.26 grams per tonne gold. Signal Gold has submitted key permits and consolidated 28,525 hectares of exploration land in the Goldboro Gold District.

Positive

• Goldboro Gold Project has a positive Feasibility Study with 11-year open pit life
• Average gold production of 100,000 ounces per annum expected
• Environmental assessment approval received for Goldboro Project
• Key permits submitted for the Goldboro Project
• Significant potential for Mineral Resource expansion in the Goldboro Gold District

Negative

• Transition from OTCQX to OTCQB due to not meeting minimum bid requirements
• Potential decrease in visibility and liquidity on the new trading platform

TORONTO, ON / ACCESSWIRE / July 25, 2024 / Signal Gold Inc. ("Signal Gold" or the "Company") (TSX:SGNL)(OTCQB:SGNLF) today announces that it will transition to the OTC Market's Group Inc.'s OTCQB Venture Market (the "OTCQB") in the United States and will cease trading on the OTCQX effective at the close of market on Thursday, July 25, 2024. The Company opted to the transition to the OTCQB as it no longer met the minimum bid requirements required on the OTCQX platform. The Company's common shares will on the OTCQB under the same symbol "SGNLF" and will continue to trade on the Toronto Stock Exchange under the symbol "SGNL".

The OTCQB is operated by the OTC Markets Group and is recognized as an "established public market" by the U.S. Securities and Exchange Commission. OTC Markets Group operates financial markets for 12,000 US and global securities, which enhances accessibility to the US capital market for development-stage international companies.

ABOUT SIGNAL GOLD

Signal Gold is advancing the Goldboro Gold Project in Nova Scotia, a significant growth project subject to a positive Feasibility Study which demonstrates an approximately 11-year open pit life of mine with average gold production of 100,000 ounces per annum and an average diluted grade of 2.26 grams per tonne gold. (Please see the ‘NI 43-101 Technical Report and Feasibility Study for the Goldboro Gold Project, Eastern Goldfields District, Nova Scotia' on January 11, 2022, for further details). On August 3, 2022, the Goldboro Project received its environmental assessment approval from the Nova Scotia Minister of Environment and Climate Change, a significant regulatory milestone, and the Company has now submitted all key permits including the Industrial Approval, Fisheries Act Authorization and Schedule 2 Amendment, and the Mining and Crown Land Leases. The Goldboro Project has significant potential for further Mineral Resource expansion, particularly towards the west along strike and at depth, and the Company has consolidated 28,525 hectares (~285 km²) of prospective exploration land in the Goldboro Gold District.

This news release has been reviewed and approved by Kevin Bullock, P. Eng., President and CEO with Signal Gold Inc., a "Qualified Person", under National Instrument 43-101 Standard for Disclosure for Mineral Projects.

FOR ADDITIONAL INFORMATION CONTACT:

Signal Gold Inc. Kevin Bullock President and CEO (647) 388-1842 kbullock@signalgold.com

Reseau ProMarket Inc. Dany Cenac Robert Investor Relations (514) 722-2276 x456 Dany.Cenac-Robert@ReseauProMarket.com

SOURCE: Signal Gold Inc.

View the original press release on accesswire.com

FAQ

Why is Signal Gold (SGNLF) moving from OTCQX to OTCQB on July 25, 2024?

Signal Gold is transitioning to the OTCQB Venture Market because it no longer meets the minimum bid requirements for the OTCQX platform. The move will be effective at the close of market on July 25, 2024.

What are the key details of Signal Gold's (SGNLF) Goldboro Gold Project?

The Goldboro Gold Project in Nova Scotia has a positive Feasibility Study showing an 11-year open pit mine life, average gold production of 100,000 ounces per year, and an average diluted grade of 2.26 grams per tonne gold.

Has Signal Gold (SGNLF) received regulatory approvals for the Goldboro Project?

Yes, Signal Gold received environmental assessment approval for the Goldboro Project on August 3, 2022, from the Nova Scotia Minister of Environment and Climate Change. The company has also submitted key permits including Industrial Approval, Fisheries Act Authorization, and Mining and Crown Land Leases.

What is the exploration potential of Signal Gold's (SGNLF) Goldboro Gold District?

Signal Gold has consolidated 28,525 hectares of prospective exploration land in the Goldboro Gold District. The Goldboro Project has significant potential for Mineral Resource expansion, particularly towards the west along strike and at depth.