On August 21, 2023, Signal Gold Inc. completed the sale of the Point Rousse project to Maritime Resources Corp. Maritime has acquired all common shares of Point Rousse Mining Inc., a wholly owned subsidiary of Signal Gold, which holds all related mineral licenses, fixed assets and equipment, liabilities, rights and obligations related to the Point Rousse project. Signal Gold received $3 million in cash and 23,970,218 common shares of Maritime, valued at approximately $1 million, in the transaction.
Cassels acted for Signal Gold.