Unigold Announces Closing of Non-Brokered Private Placement of $293,150

Rhea-AI Summary

Unigold Inc. (TSXV: UGD) (OTC Pink: UGDIF) has successfully completed a non-brokered private placement, raising gross proceeds of $293,150 through the issuance of 3,664,374 units at $0.08 per unit. Each unit comprises one common share and one-half of a common share purchase warrant. Each whole warrant allows the holder to purchase one common share at $0.12, valid for four years from 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 for this offering. The securities are subject to a four-month hold period and final TSX Venture Exchange acceptance.

Positive

• Secured $293,150 in new funding through private placement
• No finders' fees paid, maximizing capital raised
• Four-year warrant term provides extended financing flexibility

Negative

• Dilutive effect on existing shareholders through new share issuance
• Low unit price of $0.08 indicates potential market weakness

Toronto, Ontario--(Newsfile Corp. - February 20, 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 3,664,374 units of the Company (each, a "Unit") at a price of $0.08 per Unit for gross proceeds of $293,150 (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/241592

FAQ

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

Unigold raised gross proceeds of $293,150 through a non-brokered private placement.

What is the exercise price and term of UGDIF's new warrants?

The warrants have an exercise price of $0.12 and are valid for four years from the date of issue.

How will Unigold (UGDIF) use the proceeds from the private placement?

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

What is the unit price and structure of UGDIF's private placement?

Units were priced at $0.08, with each unit consisting of one common share and one-half of a common share purchase warrant.