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Unigold Announces Closing of Private Placement of 18,000,000 Units for Gross Proceeds of $2.34 Million
TORONTO, Oct. 06, 2021 (GLOBE NEWSWIRE) -- Unigold Inc. ("Unigold" or the "Company") (TSX-V: UGD) is pleased to announce that it has closed its previously annou
About this update from Unigold Inc.
[{"type":"text","content":" TORONTO, Oct. 06, 2021 (GLOBE NEWSWIRE) -- 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 Caribbean Unigold 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 explor...