Unigold closes $1.47-million private placement

Executive Summary

• Unigold Inc. has closed a non-brokered private placement raising gross proceeds of $1,470,060.
• The offering consisted of 8,167,000 units priced at $0.18 per unit, with all subscriptions made by company insiders.
• Proceeds are designated for the exploration and development of the Neita Sur concession in the Dominican Republic and for general working capital.

Key Details

• Transaction Structure: Non-brokered private placement.
• Units Issued: 8,167,000 units.
• Price Per Unit: $0.18.
• Gross Proceeds: $1,470,060.
• Unit Composition: Each unit consists of one common share and one-half of one common share purchase warrant.
• Warrant Terms: Each warrant entitles the holder to purchase one common share at an exercise price of $0.22 for a period of two years from the date of issue.
• Use of Proceeds: Financing continued exploration and development on the Neita Sur concession in the Dominican Republic and for general working capital purposes.
• Hold Period: All securities issued are subject to a four-month hold period.
• Regulatory Status: The offering is subject to final acceptance by the TSX Venture Exchange.
• Insider Participation: All units were subscribed to by insiders of the company.
• Regulatory Exemptions: The company relied on exemptions from formal valuation and minority shareholder approval requirements under Multilateral Instrument 61-101 (MI 61-101) and Policy 5.9 of the TSX Venture Exchange.
  • The fair market value of the transaction involving interested parties was not more than 25% of the company's market capitalization.
  • No securities are listed or quoted for trading on prescribed stock exchanges or stock markets.
• Disclosure Timing: A material change report will be filed on SEDAR+; it was not filed more than 21 days prior to closing because details were settled shortly before the closing date to allow for an expedited close.
• Finders' Fees: No finders' fees were paid in connection with the closing.