On November 28, 2022, Signal Gold Inc. acquired a 100% interest in six exploration licenses adjacent to the Goldboro Mineral Resource at its Goldboro Gold Project in Nova Scotia, Canada, from Meguma Gold Inc., increasing its exploration license area from 599 hectares to 3,756 hectares. The purchase price for the licenses was a total of $700,000, comprised of $400,000 in cash and $300,000 in common shares of Signal Gold at a deemed value of $0.333 per common share. Signal Gold also granted Meguma Gold Inc. a 1.0% royalty over the licences acquired, capped at $1,000,000.
Cassels acted for Signal Gold.