Business
Unigold Inc. announces exercise of warrants
Unigold Inc. announces exercise of warrants.
About this update from Unigold Inc.
[{"type":"text","content":"\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR\n\n\nDISSEMINATION IN THE UNITED STATES./\n\n\nTORONTO, July 12 /CNW/ - Unigold Inc. ("Unigold" or the "Company")\n(TSX-V: UGD) is pleased to announce that the 9,000,000 share purchase warrants\nand 455,760 broker warrants issued in connection with a private placement\ncompleted on July 11, 2006 have been fully exercised by the warrant holders.\nThe Company received a total of $6,977,880 from the exercise of these\nwarrants.\n\n\nThe Company now has approximately $12.5 million in the treasury to fund\nits ongoing exploration program in the Dominican Republic, and continue to\nseek potential business projects by way of mergers and or acquisitions which\nwill add value to Unigold.\n\n\n"Management is very encouraged by the exercise of the warrants and\nbelieves it signifies the Company has a very supportive investor base with a\nhigh level of confidence in the Company's future", states Dr. Ibrahim M.\nEitani, President and CEO of Unigold.\n\n\nAbout Unigold Inc.\n\n\n------------------\n\n\nUnigold Inc. is exploring to find and develop gold deposits on its\n100-per-cent-owned 226 km(2) Neita property located in the Dominican Republic.\nHaving the largest land package in the Dominican Republic, the goal is to\ntarget bulk tonnage, open pittable, oxide gold deposits within a similar\nsetting to the world class Pueblo Viejo gold project which occurs within a\nbroad northwest trending Cretaceous age volcanic greenstone belt that\ntransects the Dominican Republic. The economics of any discovery will be\nsignificantly improved by the fact that Unigold is benefiting from an 18-year\nholiday on all corporate taxes, sales taxes and import duties in the Dominican\nRepublic.\n\n\nThe TSX Venture Exchange has not reviewed and does not accept\n\n\nresponsibility for the adequacy or accuracy of this press release.\n\n\nCertain statements contained in this document, including statements\nregarding events and financial trends that may affect our future operating\nresults, financial position and cash flows, may constitute forward-looking\nstatements within the meaning of the federal securities laws. These statements\nare based on our assumptions and estimates and are subject to risk and\nuncertainties. You can identify these forward-looking statem...