Grants Performance Options
TSX-V Approves Warrant Extension, Unigold
Grants Performance Options
Toronto, Ontario--(Newsfile Corp. - December 12, 2023) - Unigold Inc. (TSXV: UGD) (OTCQB: UGDIF)
(FSE: UGB1) ("Unigold" or the "Company") announces that the TSX-V has approved the expiry date
extension of a total of 46,000,342 share purchase warrants (the "Warrants") to June 28, 2024 (the
"Warrant Extensions"). Each Warrant entitles the holder thereof to acquire one common share of the
Company at a price of $0.30 per common share and all other terms of the Warrants, including exercise
price, will remain the same. The Warrants were issued pursuant to the following private placements, and
all are set to expire on December 29, 2023:
16,629,167 warrants, including 193,060 warrants issued to insiders, were issued pursuant to a
private placement which closed on June 24, 2020
12,596,175 warrants, including 375,850 warrants issued to insiders, were issued pursuant to a
private placement which closed on August 10, 2021
8,750,000 warrants, including 1,850,000 warrants issued to insiders, were issued pursuant to a
private placement which closed on September 7, 2022
1,150,000 warrants were issued pursuant to a private placement which closed on September 12,
2022
6,875,000 warrants were issued pursuant to a private placement which closed on November 1,
2022
A total of 2,418,910 Warrants are held by parties who are considered to be "related parties" of the
Company. Therefore, the amendment of Warrants constitutes a "related party transaction" as
contemplated by Multilateral Instrument 61-101
Protection of Minority Shareholders in Special
Transactions
, and TSXV Policy 5.9 -
Protection of Minority Shareholders in Special Transactions
.
However, the exemptions from formal valuation and minority approval requirements provided for by these
guidelines can be relied upon as the fair market value of the Warrants held by insiders does not exceed
25% of the market capitalization of the Company. Upon receipt of the approval of the TSXV of the
Warrant Extensions, a material change report in respect of the Warrant Extension will be filed by the
Company
.
Unigold also announces that the Board of Directors has approved the grant of incentive stock options
("Options") to directors, officers, employees and consultants of the Company allowing for the acquisition
of an aggregate of up to 5,700,000 common shares of the Company ("Shares") with an exercise price of
$0.15 per Share and an expiry date of December 11, 2028. The grants of Options were issued pursuant
and subject to the terms and conditions of the Company's stock incentive plan and TSX Venture
Exchange policies.
For further information please visit
http://www.unigoldinc.com
or contact:
Mr. Joseph Hamilton
Chairman & CEO
T. (416) 866-8157
Forward-looking Statements
Certain statements contained in this document, including statements regarding events and financial
trends that may affect our future operating results, financial position and cash flows, may constitute
forward-looking statements within the meaning of the federal securities laws. The forward-looking
statements contained in this document are made as of the date hereof and we assume no obligation to
update the 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.
For more information, please visit
https://www.unigoldinc.com/profile/forward-looking-statement
.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/190868