Signature Announces Closing of Final Tranche of Private Placement

TORONTO, ONTARIO–(Marketwired – July 21, 2016) – Signature Resources Ltd. (TSX VENTURE:SGU)(OTC PINK:SGGTF) (“Signature” or the “Company“) is pleased to announce today that it closed the second and final tranche (the “Second Tranche“) of its unit (the “Units“) financing (the “Financing“) initially announced in its news release of April 21, 2016. The closing of the Second Tranche resulted in gross proceeds to the Company of $599,544 from the sale of 11,990,870 Units, which together with the first tranche of the Financing (see the Company’s news release of July 5, 2016), has resulted in aggregate gross proceeds to the Company of $1,066,338. The proceeds realized from the Second Tranche will be used for general corporate and working capital purposes, and for the continued exploration of the Company’s Lingman Lake property.
Mr. Walter Hanych, Chief Executive Officer of the Company, commented, “We are extremely pleased to close the Second Tranche of our Financing. The oversubscription to the Financing is a clear expression of shareholder confidence in the Company and an endorsement of the potential that the Lingman Lake gold property offers. We look forward to advancing this gold property and building an asset of value beneficial to all shareholders.”