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TORONTO and DUBAI, Oct. 22 /CNW/ - Unigold Inc. ("Unigold" or the "Company") (TSX-V: UGD) is proud to announce that the Company will be listed on the DIFX as of today's date, thus making available the trading of its shares in the Gulf Region of the Middle East. The following press release was made today by the DIFX authority,
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UNIGOLD OF CANADA IS FIRST NORTH AMERICAN COMPANY TO LIST ON DUBAI
INTERNATIONAL FINANCIAL EXCHANGE
October 22, 2007 - Unigold Inc., a Canadian gold exploration and mining company, listed today on the Dubai International Financial Exchange (DIFX). It is the first North American company to choose the DIFX for a listing and the fourth company to do so in the gold mining sector.
Unigold is exploring for gold on its 226 square kilometers concession in the Dominican Republic and has a reconnaissance license to explore for minerals anywhere in Saudi Arabia. The Company is already listed on the TSX Venture Exchange in Toronto and its largest shareholder is the Saudi Arabian company Shairco for Trading, Industry & Contracting Company.
Dr. Ibrahim Eitani, President and Chief Executive of Unigold, said: "Unigold's exploration in the Dominican Republic is yielding exciting gold prospects and this is an appropriate time to raise our profile with investors in the DIFX's region.
"We are also preparing to carry out activities in Saudi Arabia and elsewhere while seeking potential projects for merger/acquisition."
Per E. Larsson, Chief Executive of the DIFX, said: "This first listing by a North American company underlines the international appeal of the DIFX, which now has 12 equity listings from issuers in five continents. Our issuer base offers unique opportunities to investors in our region and beyond."
Computershare, an international share registry, will enable trading on the DIFX to take place in the same pool of ordinary shares that is listed on the TSX Venture Exchange, through a settlement link.
Hamed Ali, Executive Officer of the DIFX, said: "As an international company with strong connections to the region, Unigold is an excellent example of an issuer that can benefit from a DIFX listing.
"We are particularly pleased to be strengthening the exchange's gold mining sector in a period of strong gold prices."
About DIFX
The DIFX is the region's first international financial exchange for equities, bonds, Islamic products, funds, index products and (subject to regulatory approval) derivatives. The target areas of the DIFX for seeking issuers include the Middle East and North Africa, as well as South Africa, Turkey and the Indian sub-continent.
The exchange launched in September 2005 and currently has 19 Members - ABN AMRO, Arbuthnot Securities, Barclays Capital, Citigroup, Credit Suisse, Daman Securities International, Deutsche Bank, EFG-Hermes, Hichens, Harrison & Co, HSBC, ING Bank NV, Jefferies International, KAS BANK, Morgan Stanley, Merrill Lynch, Mashreq Capital (DIFC), NBD Investment Bank, SHUAA Capital and UBS.
Issuers on the DIFX: Equities - Albaraka Banking Group (ordinary shares), Boulder Steel (ordinary shares), Citigold Corporation (ordinary shares), Fortune Management (ordinary shares), Gold Fields (American depositary shares), Hikma Pharmaceuticals (global depositary receipts), Kingdom Hotel Investments (ordinary shares), Man Industries (India) (global depositary receipts), Monarch Gold Mining Company (ordinary shares), Rana Sugars (global depositary receipts); Sphere Investments (ordinary shares), Unigold Inc. (ordinary shares) Bonds - DP World (Medium Term Notes), Dubai Holding Commercial Operations Group (Medium Term Notes), Kuwait Financial Centre S.A.K. (Closed) (Notes); MashreqBank (Medium Term Notes), National Bank of Dubai (Medium Term Notes); Islamic Products - Aabar Sukuk (Sukuk), Cherating Capital (Sukuk), DAAR International Sukuk (Sukuk), Dar Al Arkan International Sukuk (Sukuk), DIB Sukuk (Sukuk), DIFC Investments (Sukuk), Dubai World Sukuk (Sukuk), IIG Funding Ltd (Sukuk), Nakheel Development (Sukuk), Ports, Customs and Free Zone Corporation (Sukuk), TID Global Sukuk (Sukuk); Structured Products - Deutsche Bank, Merrill Lynch, Morgan Stanley.
The regulator of the DIFX is the Dubai Financial Services Authority (DFSA). The DIFX is located in the Dubai International Financial Centre (DIFC).
www.difx.ae
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The management of Unigold is keen to make Unigold Inc. an international company and to continue to develop its business diversification worldwide. With its strong shareholders ties in the Middle East, this step will have immediate access to the trading of its shares in the region. In addition, UGD will benefit from the available strong financial services for future funding of its business operations and expansion.
About Unigold Inc.
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Unigold Inc. is exploring to find and develop gold deposits on its 100-per-cent-owned 226 km(2) Neita property located in the Dominican Republic. Having the largest land package in the Dominican Republic, the goal is to target bulk tonnage, open pittable, oxide gold deposits within a similar setting to the world class Pueblo Viejo gold project which occurs within a broad northwest trending Cretaceous age volcanic greenstone belt that transects the Dominican Republic. The economics of any discovery will be significantly improved by the fact that Unigold is benefiting from an 18-year holiday on all corporate taxes, sales taxes and import duties in the Dominican Republic.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press release.
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