Signal Gold Inc. (TSX:SGNL) acquired six exploration licenses adjacent to the Goldboro Mineral Resource in Nova Scotia, Canada from MegumaGold Corp. (OTCPK:NSAU.F) for CAD 0.7 million on November 28, 2022. The consideration consists of CAD 0.4 million in cash and CAD 0.3 million in common shares of Signal Gold at a deemed value of CAD 0.333 per common share, based on the 20-day volume weighted average price as of November 16, 2022, resulting in the issuance of 900,901 common shares of the Company. Signal Gold also granted to Meguma Gold Inc. a 1.0% royalty over the licenses acquired, capped at CAD 0.1 million of total payments, and assumed an existing 2% gross royalty which applies to five (5) of the exploration licenses acquired. Maria Christodoulou, Christopher Harasym, Tera Li Parizeau, Zahra Nurmohamed and Alexander Pizale of Cassels Brock & Blackwell LLP acted as legal advisors to Signal Gold in the transaction.

Signal Gold Inc. (TSX:SGNL) completed the acquisition of six exploration licenses adjacent to the Goldboro Mineral Resource in Nova Scotia, Canada from MegumaGold Corp. (OTCPK:NSAU.F) on November 28, 2022.