July 5, 2016, Vancouver, B.C. – Signal Exploration Inc. (the “Company”) (NEX-SNL.H) announces that further to its news release dated May 29, 2016, it has completed its non-brokered private placement of 3,200,000 units (“Units”) at a price of $0.05 per Unit for aggregate gross proceeds of $160,000 (the “Offering”).
Each Unit consists of one common share (a “Share”) and one Share purchase warrant of the Company (a “Warrant”). Each Warrant will entitle the holder to purchase one Share (a “Warrant Share”) at an exercise price of $0.07 per Warrant Share for a period of 12 months from the date of issuance until June 29, 2017.
A finder (the “Finder”) was paid a cash commission of $10,000 and received 200,000 Shares in lieu of cash commission and 200,000 finder’s warrants (“Finder’s Warrants”) in accordance with the policies of the NEX. Each Finder’s Warrant is convertible into one Share (a “Finder’s Warrant Share”) at a price of $0.07 per Finder’s Warrant Share for a period of 12 months from the date of issuance until June 29, 2017.
All securities issued pursuant to the Offering are subject to a hold period expiring on October 30, 2016. The proceeds raised will be used for general corporate purposes.
For more information, contact the Company at 778-998-4552.
On behalf of the Board of Directors of SIGNAL EXPLORATION INC.
President, Chief Financial Officer and Director
The TSX Venture Exchange has in no way passed upon the merits of this release and has neither approved nor disapproved its contents. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. Trading in the securities of the Company should be considered highly speculative.