Unigold Announces Closing of Private Placement of 18,000,000 Units for Gross Proceeds of $2.34 Million
October 06 2021 - 4:30PM
Unigold Inc. ("
Unigold" or the
"
Company") (TSX-V: UGD) is pleased to announce
that it has closed its previously announced private placement of
18,000,000 units of the Company (the "
Units") at a
price of $0.13 per Unit for gross proceeds of C$2,340,000 (the
"
Offering"). Each Unit consists of one common
share in the capital 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 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. – 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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