UGB1) ("Unigold" or the "Company") announces that the TSX-V has approved the extension of a total of 16,629,167 share purchase warrants (the "Warrants"), by six months to
TSX-V Approves Warrant Extension
Toronto, Ontario--(Newsfile Corp. - June 21, 2023) - Unigold Inc. (TSXV: UGD) (OTCQB: UGDIF) (FSE:
UGB1) ("Unigold" or the "Company") announces that the TSX-V has approved the extension of a total of
16,629,167 share purchase warrants (the "Warrants"), by six months to December 29, 2023 (the
"Warrant Extension"). The Warrants were issued pursuant to a private placement which closed on June
23, 2020 and are currently set to expire on June 23, 2023. 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.
A total of 150,650 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 Extension, a material change report in respect of the Warrant Extension will be filed by the
Company
.
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/170850