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Unigold Announces Closing of Private Placement of 18,000,000 Units for Gross Proceeds of $2.34 Million

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Unigold Announces Closing of Private Placement of 18,000,000 Units for Gross Proceeds of $2.34 Million

 

 

 

 

 

Unigold Inc. (TSX-V: UGD) is pleased to announce that it has closed its previously announced private placement of 18,000,000 units of the Company at a price of $0.13 per Unit for gross proceeds of C$2,340,000. Each Unit consists of one common share in the capital of the Company and one common share purchase warrant. Each Warrant will entitle the holder thereof to purchase one Common Share at an exercise price of $0.15 until February 7, 2022.

 

The net proceeds from the Offering will be used to fund the Company’s continued exploration and development on its Neita Concession in the Dominican Republic, and for general working capital purposes. All securities issued under the Offering are subject to a four-month hold period, which will expire February 7, 2022. The Offering is subject to final acceptance of the TSX Venture Exchange.

 

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

 

About Unigold Inc.

 

Unigold is a Canadian based mineral exploration company traded on the TSX Venture Exchange, the OTCQX exchange, and on the Frankfurt Stock Exchange. The Company is focused primarily on exploring and developing its gold assets in the Dominican Republic. The Candelones oxide gold deposit is within the 100% owned Neita Fase II exploration concession located in Dajabón province, in the northwest part of the Dominican Republic. The Candelones project area is about 20 kilometers south of the town of Restauraćion. The oxide deposit occurs at surface as a result of the tropical weathering of underlying mineralization. Unigold has been active in the Dominican Republic since 2002 and remains the most active exploration Company in the country. The Neita Fase II exploration concession is the largest single exploration concession covering volcanic rocks of the Cretaceous Tireo Formation. This island arc terrain is host to Volcanogenic Massive Sulphide deposits, Intermediate and High Sulphidation Epithermal Systems and Copper-gold porphyry systems. Unigold has identified over 20 areas within the concession area that host surface expressions of gold systems. Unigold has been concentrating on the Candelones mineralization and continues to expand the deeper sulphide resources with on-going drilling.

 

Posted October 7, 2021

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