NexGold and Signal Gold announced the completion of a restructuring of the two entities' respective debt facilities (the "Debt Restructuring"), significantly reducing the debt profile of the combined entity going forward. Signal Gold's outstanding credit facility of approximately USD 20.8 million with Nebari and NexGold's USD 6.2 million facility with Extract Capital ("Extract") have been repaid in connection with the Arrangement. Under the Debt Restructuring, NexGold has entered into a new USD 12.0 million facility with Nebari, which has a 30-month term with an interest rate of 11.4%, payable monthly in arrears and secured against both the Goliath and Goldboro Projects.

Under the facility, existing Signal Gold warrants associated with the prior Nebari facility were cancelled, and 3,160,602 new NexGold warrants were issued to Nebari with an exercise price of USD 1.00 per NexGold Share with a term of 30 months. In addition, Nebari has paid NexGold USD 6.0 million for a 0.6% net smelter return royalty (the "Royalty") on the Goldboro Project, which includes a 100% buy-back right for the first 30 months at NexGold's option. If the Royalty is not repurchased during the 30-month period, then the Royalty rate shall increase to 2.0%.

The new Nebari facility and Royalty, together with a USD 4.0 million equity placement with Nebari and certain proceeds from the Signal Gold subscription receipt financing, as well as existing working capital, were used to retire the existing Nebari and Extract debt.