Friday, June 29, 2018 1:32:54 PM
The company intends to close on additional tranches for an additional raise of $900,000. I was happy to see that no finder’s fees were paid.
The funds raised will go to increasing shareholder value. The company intends to use the funds to finance the Company’s prospecting, drilling and other exploration and development expenses and activities and for general corporate purposes.
Here is a link to the press release:
https://www.otcmarkets.com/stock/SGGTF/news/Signature-Resources-Announces-Closing-of-First-Tranche-of-Private-Placement-and-Lingside-Claims-Purchase?id=196412
In another piece of very good news for investment pros, the company received DTC eligibility for its OTCQB shares traded under the symbol of SGGTF. This is critically important because many investment funds will not buy shares in companies that are not DTC eligible. Almost all will not participate in any financings for Signature Resources unless the company is DTL eligible. Some small public companies minimize the importance of this. I expect it to be easier for Signature Resources to raise capital going forward and gain smart money as shareholders as a result of the DTC eligibility.
Here is a link to yesterday’s news.
https://www.otcmarkets.com/stock/SGGTF/news/Signature-Resources-Announces-DTC-Eligibility-of-Its-OTCQB-Listed-Common-Shares?id=196635
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