Signal Gold Inc. Reminds Shareholders to Cast Their Vote for the Upcoming Special Meeting
28.11.2024 | Accesswire
- Signal Gold Inc.'s Special Meeting of Shareholders will be held virtually on Friday, December 6 at 11:00 a.m. Eastern.- Shareholders are encouraged to vote well in advance of the proxy voting deadline on Wednesday, December 4 at 11:00 a.m. Eastern.
- Shareholders who have questions or need assistance in voting should contact Laurel Hill Advisory Group by telephone at 1-877-452-7184 (North American Toll Free) or 1-416- 304-0211 (Outside North America), or by email at assistance@laurelhill.com.
TORONTO, November 28, 2024 - Signal Gold Inc. ("Signal Gold" or the "Company") (TSX:SGNL)(OTCQB:SGNLF) is reminding its shareholders to vote ahead of the upcoming proxy voting deadline for the special meeting of shareholders (the "Meeting") to be held on Friday, December 6, 2024 at 11:00 a.m. (Eastern Standard Time). In light of the Canada Post labour strike, the Company is encouraging shareholders to vote using the internet, telephone or fax numbers provided in the Circular (as defined below) to ensure their vote is received prior to the proxy voting deadline. Shareholders who have questions or need assistance in voting should contact Laurel Hill Advisory Group by telephone at 1-877-452-7184 (North American Toll Free) or 1-416- 304-0211 (Outside North America), or by email at assistance@laurelhill.com.
In addition, Signal Gold wishes to clarify certain disclosure included in its management information circular dated November 5, 2024 (the "Circular") with respect to the Arrangement (as defined in the Circular) with NeXGold Mining Corp. ("NexGold"). Specifically, it is confirmed that the Debt Restructuring (as defined in the Circular) is a "related party transaction" for Signal Gold, in addition to being a "connected transaction" to the Arrangement. While Signal Gold is exempt from the requirement to obtain a formal valuation in respect of the Debt Restructuring under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"), it is not exempt from the requirement to comply with the minority shareholder approval requirements of MI 61-101 in respect of the Debt Restructuring. However, since the Debt Restrucuring is a key condition to the completion of the Arrangement, approval of the Arrangement Resolution (as defined in the Circular) is also approval of the Debt Restructuring. Shareholders voting FOR the Arrangement Resolution will also be considered to be voting FOR the Debt Restructuring, as the Debt Restructuring is part and parcel of the Arrangement. Furthermore, Nebari (as defined in the Circular) is a "related party" of Signal Gold under MI 61-101 and will be excluded from the minority of the majority vote on the Arrangement Resolution (for further details, see page 55 of the Circular).
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). 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.
On October 10, 2024, Signal Gold announced that it had entered into a definitive agreement to combine with NexGold to create one of Canada's most advanced near-term gold developers. The combined entity will be focused on advancing NexGold's Goliath Gold Complex Project in Northern Ontario and Signal's Goldboro Project in the Goldboro Gold District in Nova Scotia. Pursuant to the definitive agreement, NexGold will acquire all the issued and outstanding common shares of Signal Gold in exchange for common shares of NexGold by way of a plan of arrangement.
FORWARD-LOOKING STATEMENTS
This news release may contain "forward-looking information" within the meaning of applicable Canadian and United States securities legislation, including, but not limited to, the Meeting. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Signal Gold to be materially different from those expressed or implied by such forward-looking information, including risks associated with the exploration, development and mining such as economic factors as they effect exploration, future commodity prices, changes in foreign exchange and interest rates, actual results of current production, development and exploration activities, government regulation, political or economic developments, environmental risks, permitting timelines, capital expenditures, operating or technical difficulties in connection with development activities, employee relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of resources, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in Signal Gold's annual information form for the year ended December 31, 2023, available on www.sedarplus.ca. Although Signal Gold has attempted to identify important factors, assumption and risks that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors, assumptions and risks that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Signal Gold does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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.