Signature Resources Ltd. (SGGTF)

[jonsmile]

Can u explain to me in laymen’s terms what this means

I’m thinking of taking a position here


Signature is seeking shareholder approval for a share consolidation on an up to one (1) new common share for up to every existing five (5) common shares (the "Consolidation") at its upcoming Annual General and Special Meeting to be held on March 1st, 2021. Management and the board of the Company believe that the Consolidation will enhance the marketability of the Company's common shares as an investment to a wider range of potential investors, which should help to facilitate additional financings for strategic investment. This in turn would permit Signature to act upon opportunities to accelerate resource growth through drilling. In addition, the Consolidation could also provide the potential for new index inclusions of Signature's common shares, which could be beneficial to the Company and its shareholders. The Consolidation will only be pursued if management and the board deem the impact to be a net material benefit to the Company's goals of becoming a premier gold exploration/development company. Consequently, the Company would only initiate a share Consolidation in the event management believed it could potentially lead to: