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Signature raises C$1.1M via private placement

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Signature raises C$1.1M via private placement

SignatureResources Ltd. said July 21 that it has raised about C$1.1 millionfrom its previously announced nonbrokered private placement of units.

The offering consisted of 21,326,750 units at 5 cents each.

Each unit comprised 1 common share and 1 common sharepurchase warrant, with each warrant exercisable at 15 cents each for a periodof 24 months following closing.

Signature will use the proceeds for the development of theLingman Lakegold project in Ontario and for general working capital purposes.