Monday, May 9, 2016

Unigold Inc. - UGD.v

Unigold Inc. - UGD.v is focused on the flagship Neita concession in the Dominican Republic.

Unigold has been actively involved in exploration in the Dominican Republic for the past decade and is concentrated within the 75km-wide Cretaceous-age Tireo-formation volcano sedimentary rocks, known for hosting major deposits.

On May 2, 2016 the Company released News

"Unigold Inc. ("Unigold" or the "Company") (TSX-V:UGD) is pleased to announce that it has appointed a syndicate of agents, including M Partners Inc. and Primary Capital Inc. (the "Agents") to sell by way of a private placement up to 8,333,334 units of the Company (the "Units") at a price of C$0.30 per Unit for gross proceeds of up to C$2,500,000 (the "Private Placement"). Each Unit will consist of one common share of the Company (a "Unit Share") and one common share purchase warrant (a "Warrant"). Each Warrant will entitle the holder to purchase one common share of the Company (a "Warrant Share" and together with the Units, Unit Shares, and Warrants, the "Securities") for a period of 24 months from the closing date of the Private Placement (subject to early expiry as described below) at a price of C$0.45 per Warrant Share. Unigold has also granted the Agents a "greenshoe" option, exercisable in whole or in part any time up to 48 hours before the closing of the Private Placement, to purchase an additional 20% of the Units sold pursuant to the Private Placement on the same terms and conditions as the Private Placement to cover over-allotments and for market stabilization purposes.

The proceeds from the Private Placement will be used to fund the Company's continued exploration and development of its gold assets in the Dominion Republic, and for general working capital purposes.