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Unigold Announces Closing of Non-Brokered Private Placement of $1,493,450
Toronto, Ontario--(Newsfile Corp. - June 5, 2024) - Unigold Inc. (TSXV: UGD) (OTCQB: UGDIF) (FSE:...
About this update from Unigold Inc.
[{"type":"text","content":"Unigold Announces Closing of Non-Brokered Private Placement of $1,493,450Toronto, Ontario--(Newsfile Corp. - June 5, 2024) - Unigold Inc. (TSXV: UGD) (OTCQB: UGDIF) (FSE: UGB1) (\"Unigold\" or the \"Company\") is pleased to announce that it has closed a second and final tranche (\"Final Tranche\") of a non-brokered private placement of 18,668,125 units of the Company (each, a \"Unit\") at a price of $0.08 per Unit for gross proceeds of $1,493,450 (the \"Offering\"). Each Unit will consist of one common share of the Company (a \"Common Share\") and one-half of one common share purchase warrant (each whole common share purchase warrant, a \"Warrant\"). Each Warrant will entitle the holder thereof to purchase one Common Share at an exercise price of $0.12 until four years following the date of issue.The Company announced the closing of a First Tranche on May 13, 2024. In the closing of the Final Tranche the Company has issued 15,556,250 units for aggregate gross proceeds of $1,244,500. No finders were paid in connection with this closing of the Offering. 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. All securities issued under the Offering are subject to a four-month hold period. The Offering is subject to final acceptance of the TSX Venture Exchange.The following \"insiders\" of the Company subscribed for Units under the Final Tranche of the Offering: InsiderInsider RelationshipUnitsPurchasedNormand Tremblay Director of Issuer200,000Total:200,000 Each subscription by an \"insider\" is considered to be a \"related party transaction\" for purposes of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (\"MI 61- 101\") and Policy 5.9 - Protection of Minority Security Holders in Special Transactions of the TSX Venture Exchange. Pursuant to MI 61-101, the Company will file a material change report providing disclosure in relation to each \"related party transaction\" on SEDAR under the Company's issuer profile at www.sedarplus.ca. The Company did not file the material change report more than 21 days before the expected closing date of the Offering as the details of the Offering and the participation therein by each \"related party\" of th...