Unigold Announces Closing of Non-Brokered Private Placement of $1,470,060
Unigold Announces Closing of Non-Brokered
Private Placement of $1,470,060
Toronto, Ontario--(Newsfile Corp. - February 25, 2026) - Unigold Inc. (TSXV: UGD) (FSE:
UGB1) ("Unigold" or the "Company") is pleased to announce that it has closed a non-brokered private
placement of 8,167,000 units of the Company (a "Unit") at a price of $0.18 per Unit for gross proceeds
of $1,470,060 (the "Offering").
Each Unit consists 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 $0.22 for two (2) 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 exploration 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 following "insiders" of the Company subscribed for Units under the Offering:
Insider
Insider Relationship
Units Purchased
Andrés Marranzini
Director of Issuer
3,111,100
Juana Barcelo
Director of Issuer
3,888,900
Total:
7,000,000
Each subscription by an "insider" is considered to be a "related party transaction" for purposes of
Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-
101") and Policy 5.9 - Protection of Minority Security Holders in Special Transactions of the TSX
Venture Exchange. Pursuant to MI 61-101, the Company will file a material change report providing
disclosure in relation to each "related party transaction" on SEDAR under the Company's issuer profile
at www.sedar.com. The Company did not file the material change report more than 21 days before the
expected closing date of the Offering as the details of the Offering and the participation therein by each
"related party" of the Company were not settled until shortly prior to the closing of the Offering, and the
Company wished to close the Offering on an expedited basis for sound business reasons. The
Company is relying on exemptions from the formal valuation and minority shareholder approval
requirements available under MI 61-101. The Company is exempt from the formal valuation requirement
in section 5.4 of MI 61-101 in reliance on sections 5.5(a) and (b) of MI 61-101 as the fair market value of
the transaction, insofar as it involves interested parties, is not more than the 25% of the Company's
market capitalization, and no securities of the Company are listed or quoted for trading on prescribed
stock exchanges or stock markets. Additionally, the Company is exempt from minority shareholder
approval requirement in section 5.6 of MI 61-101 in reliance on section 5.7(1)(a) as the fair market value
of the transaction, insofar as it involves interested parties, is not more than the 25% of the Company's
market capitalization.
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
About Unigold Inc. - Discovering Gold in the Caribbean
Unigold is a Canadian based mineral exploration company traded on the TSX Venture Exchange under
the symbol UGD and on the Frankfurt Stock Exchange under the symbol UGB1.
The multi-million ounce
Candelones gold deposits are within the 100% owned "Neita Sur"
concession located in Dajabón
province, in the northwest part of the Dominican Republic.
This 9,990 Ha concession has moved
smoothly through various permitting stages and now awaits the granting of an Exploitation Concession.
The application rests with the President's office for final approval.
The Company delivered a feasibility
study for the oxide portion of the Candelones deposit in Q4 of 2022. The 10,902 Ha "Neita Norte"
Exploration Concession was awarded to the Company in Q2 2023.
In early 2024 Unigold completed an
earn-in agreement with Barrick Gold which allows Barrick to earn up to a 60% interest in the Neita Norte
concession by spending a minimum of $12 million over an eight year period and delivering a Pre-
feasibility Study on an identified deposit.
Barrick can earn a further 20% in the Neita Norte concession
by electing to sole-fund a feasibility study within the following 4 years.
The two concessions together form
the largest single exposure of the volcanic rocks of the Cretaceous Tireo Formation.
This island arc
terrain is host to Volcanogenic Massive Sulphide deposits, Intermediate and High Sulphidation
Epithermal Systems and Copper-gold porphyry systems.
Unigold has identified over 20 areas within the
concession areas that host surface expressions of gold systems.
Unigold has been concentrating on the
multimillion ounce Candelones mineralization and is moving to bring these deposits into production.
Unigold has been active in the Dominican Republic since 2002 and continues to receive strong support
from the local communities for its exploration and development activities.
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. These statements are
based on our assumptions and estimates and are subject to risk and uncertainties. You can identify
these forward-looking statements by the use of words like "strategy", "expects", "plans", "believes",
"will", "estimates", "intends", "projects", "goals", "targets", and other words of similar meaning. You can
also identify them by the fact that they do not relate strictly to historical or current facts. We wish to
caution you that such statements contained are just predictions or opinions and that actual events or
results may differ materially. 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, or to update the
reasons why actual results could differ materially from those projected in 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.
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.
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https://www.newsfilecorp.com/release/285261