Unigold Announces Non-Brokered Private Placement of up to $2,340,000
September 17 2021 - 7:50AM
Unigold Inc. (“Unigold” or the “Company”) (TSX-V:UGD, OTCQX:UGDIF,
FSE:UGB1) is pleased to announce a non-brokered private placement
of up to 18,000,000 units of the Company (each, a "Unit") at a
price of $0.13 per Unit for gross proceeds of up to $2,340,000 (the
"Offering"). Each Unit will consist of one common share of the
Company (a "Common Share") and one common share purchase warrant (a
"Warrant"). Each Warrant will entitle the holder thereof to
purchase one Common Share at an exercise price of $0.15 until the
date that is four months and a day following the date of issue.
The 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.
Closing of the Offering may be completed in
multiple tranches and is subject to certain closing conditions
including, but not limited to, conditional approval from the TSX
Venture Exchange and receipt of any other required regulatory
approvals. The securities being offered under the Offering will be
issued pursuant to applicable exemptions from the prospectus
requirements under applicable securities laws and will be subject
to a hold period that will expire four months and one day from the
date of issue.
About Unigold Inc. – Discovering Gold in
the CaribbeanUnigold is a Canadian based mineral
exploration company traded on the TSX Venture Exchange under the
symbol UGD, the OTCQX exchange under the symbol UGDIF, and on the
Frankfurt Stock Exchange under the symbol UGB1. 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.
For further information please visit www.unigoldinc.com or
contact: Mr. Joseph HamiltonChairman &
CEOjhamilton@unigoldinc.comT. (416) 866-8157
Forward-looking Statements Certain statements
contained in this document, including statements regarding events
and financial trends that may affect our future operating results,
financial position and cash flows, may constitute forward-looking
statements within the meaning of the federal securities laws. These
statements are based on our assumptions and estimates and are
subject to risk and uncertainties. You can identify these
forward-looking statements by the use of words like “strategy”,
“expects”, “plans”, “believes”, “will”, “estimates”, “intends”,
“projects”, “goals”, “targets”, and other words of similar meaning.
You can also identify them by the fact that they do not relate
strictly to historical or current facts. We wish to caution you
that such statements contained are just predictions or opinions and
that actual events or results may differ materially. The
forward-looking statements contained in this document are made as
of the date hereof and we assume no obligation to update the
forward-looking statements, or to update the reasons why actual
results could differ materially from those projected in the
forward-looking statements. Where applicable, we claim the
protection of the safe harbour for forward- looking statements
provided by the (United States) Private Securities Litigation
Reform Act of 1995.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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