FireFly Metals Ltd (ASX:FFM) entered into an agreement to acquire Tilt Cove Gold Corp from Signal Gold Inc. (TSX:SGNL) for CAD 4.35 million on November 4, 2024. As part of consideration Signal Gold Inc. will receive CAD 0.57 million in cash and 2,317,869 common shares of FireFly with a value of CAD 2.5 million based on the 10-day volume weighted average price of FireFly?s shares on the Australian Stock Exchange at the time of signing the SPA. Signal Gold will also receive a milestone payment of CAD 1 million (in shares or cash at the sole option of FireFly) if FireFly announces a mineral resource estimate, in any category, of at least 500,000 ounces of gold equivalent ounces at a grade of at least 1.0 grams per tonne gold equivalent at the Tilt Cove Project. The expected completion of the transaction is by mid November 2024.

FireFly Metals Ltd (ASX:FFM) completed the acquisition of Tilt Cove Gold Corp from Signal Gold Inc. (TSX:SGNL) on November 5, 2024.