Signal Gold Inc. announced a non-brokered private placement of up to 16,666,667 units at an issue price of CAD 0.30 per unit for the gross proceeds of CAD 5,000,000 and up to 5,555,556 flow-through units at an issue price of CAD 0.36 per flow through unit for the gross proceeds of CAD 2,000,000, for an aggregate gross proceeds of CAD 7,000,000 on May 4, 2023. Each Flow-Through Unit will consist of one flow-through share and one-half of one common share purchase warrant to be issued on a non-flow through basis. Each Unit will consist of one common share and one-half of one Warrant.

Each Warrant will entitle the holder thereof to purchase one common share of the Company at a price of CAD 0.45 for a period of 18 months following the closing date of the Offering. The securities to be issued under the Offering will be subject to a hold period of four months and a day from the closing date of the Offering in accordance with the rules and policies of the Toronto Stock Exchange.