Unigold Announces Closing of Non-Brokered Private Placement of $146,600

Rhea-AI Summary

Unigold Inc. (UGDIF) has successfully completed a non-brokered private placement, raising $146,600 through the issuance of 1,832,500 units at $0.08 per unit. Each unit comprises one common share and one-half of a common share purchase warrant. The warrants allow holders to purchase common shares at $0.12 for up to four years after issuance.

The proceeds will fund the company's ongoing permitting and development activities at its Neita Sur Concession in the Dominican Republic, along with general working capital purposes. No finders' fees were paid, and the securities are subject to a four-month hold period. The offering awaits final acceptance from the TSX Venture Exchange.

Positive

• Raised $146,600 in additional capital for development and working capital
• No finders' fees were paid, maximizing the net proceeds
• Warrants provide potential for additional future capital at $0.12 per share

Negative

• Small offering size indicates limited investor interest
• Potential dilution to existing shareholders
• Low unit price of $0.08 suggests challenging market conditions

Toronto, Ontario--(Newsfile Corp. - May 7, 2025) - Unigold Inc. (TSXV: UGD) (OTC Pink: UGDIF) (FSE: UGB1) ("Unigold" or the "Company") is pleased to announce that it has completed a non-brokered private placement of 1,832,500 units of the Company (each, a "Unit") at a price of $0.08 per Unit for gross proceeds of $146,600 (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.

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 permitting and development on its Neita Sur 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 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.

For further information please visit www.unigoldinc.com or contact:

Mr. Joseph Hamilton
Chairman & CEO
T. (416) 866-8157

Forward-looking Statements

Where applicable, we claim the protection of the safe harbour for forward- looking statements provided by the (United States) Private Securities Litigation Reform Act of 1995.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/251217

FAQ

How much did Unigold (UGDIF) raise in its May 2025 private placement?

Unigold raised $146,600 through a non-brokered private placement, issuing 1,832,500 units at $0.08 per unit.

What are the terms of Unigold's May 2025 private placement warrants?

Each warrant allows holders to purchase one common share at $0.12 for up to four years following the issue date.

How will Unigold use the proceeds from its May 2025 private placement?

The proceeds will fund permitting and development activities at the Neita Sur Concession in the Dominican Republic and general working capital purposes.

What is the hold period for securities issued in Unigold's May 2025 private placement?

All securities issued under the offering are subject to a four-month hold period.