01:58 PM EST, 12/13/2024 (MT Newswires) -- NeXGold Mining ( NXGCF ) on Friday said closed the $23.6-million acquisition of Signal Gold ( SGNLF ) .

The combines NexGold's Goliath Gold Complex Project in Northern Ontario and Signal Gold's Goldboro Gold Project in Nova Scotia.

"Today we have created a stronger and larger company with two cornerstone assets that we believe are near-term gold development projects," said chief executive Kevin Bullock.

Former Signal Gold ( SGNLF ) shareholders received 0.1244 of a NexGold share for each Signal share held. NexGold issued approximately 31.9 million shares to former Signal Gold shareholders.

The company's shares were last seen unchanged at $0.74 on the TSX Venture Exchange.