Signature Resources Ltd. Announces Results of 2022 Annual General & Special Meeting of Shareholders and Grant of Stock Options
TORONTO, May 27, 2022 Signature Resources Ltd. (TSXV: SGU, OTCQB: SGGTF, FSE 3S3) ("Signature" or the "Company") is pleased to announce the results of voting at its annual general and special meeting of the shareholders which was held May 26, 2022 (the “Meeting”). All matters submitted to the shareholders, as set out in the Company’s Notice of Meeting and Management Information Circular, were approved by the requisite majority of votes cast at the Meeting.
Election of Directors
Shareholders approved the election of the seven (7) Directors as set out below:
Paolo Lostritto
Robert Vallis
Stephen Timms
Lisa Davis
Dan Denbow
John Hayes
Priya Patil
Appointment of Auditors
McGovern Hurley LLP, Chartered Professional Accountants was appointed auditors of the Company for the ensuring year at the renumeration to be fixed by the Directors.
Approval of the Share Consolidation
Shareholders approved the consolidation of the common shares on the basis of one (1) new common share for up to five (5) old common shares. The Board may, in its sole discretion, determine not to proceed with the Consolidation without further approval or action by or prior notice to shareholders.
Approval of Incentive Stock Option Plan
Shareholders approved the Incentive Stock Option Plan as set out in the Company’s Management Information Circular.
Stock Options
The Company has also granted a combined total of 4,000,000 incentive stock options to the Board and Management of the Company. The options have an exercise price of $0.06, expire five years from the date of issuance, and vest 25% immediately, and 25% annually thereafter through to the third anniversary.
About Signature
The Lingman Lake gold property consists of 1,434 staked claims, four freehold fully patented claims and 14 mineral rights patented claims totaling approximately 27,113 hectares. The property includes what has historically been referred to as the Lingman Lake Gold Mine, an underground substructure consisting of a 126.5-metre shaft, and 3-levels at 46-metres, 84-metres and 122-metres depths. There has been over 28,000 metres (177 drill holes) of historical drilling done on the Property.
To find out more about Signature Resources Ltd., visit our website at www.signatureresources.ca, or contact:
Donna McLean
Chief Financial Officer
416.642-1807 Ext. 307
info@signatureresources.ca
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