Unigold Announces Non-Brokered Private Placement of up to $1,600,000
Unigold Inc. Press Release: PR2022-07, July 26, 2022
1
UNIGOLD INC.
Ste 2701, 401 Bay Street,
P.O. Box 4, Toronto, ON M5H 2Y4
T. (416) 866-8157
www.unigoldinc.com
PR No. 2022-07
Unigold Announces Non-Brokered Private Placement of up to $1,600,000
Toronto, Ontario, July 26, 2022 – Unigold Inc. (“Unigold” or the “Company”) (TSX -
V:UGD, OTCQX:UGDIF, FSE:UGB1) is pleased to announce a non -brokered private
placement of up to 20,000,000 units of the Company (each , a "Unit") at a price of
$0.08 per Unit for gross proceeds of up to $1,600,000 (the "Offering"). Each Unit will
consist of one common share of the Compan y (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 $0.30 until the date that is t he earlier of: (i) one year
following the date of issue, or (ii) 30 days after the date on which the Company gives
notice of acceleration, which notice may be provided no earlier than four months and
twenty-one days from the date of issue if the closing price of the Common Shares on
a stock exchange in Canada is higher than $0.60 per Common Share for more than
20 consecutive trading days.
The proceeds from the Offering will be used to fund the Company's continued
exploration and development on its Neita Concession in the Dominican Republic, and
for general working capital purposes.
Finder's fees may be paid in connection with the completion of the Offering in
accordance with TSX Venture Exchange policies.
Closing of the Offering may be completed in mul tiple tranches and is subject to
certain closing conditions including, but not limited to, conditional approval from the
TSX Venture Exchange and receipt of any other required regulatory approvals. The
securities being offered under the Offering will be is sued pursuant to applicable
exemptions from the prospectus requirements under applicable securities laws and
will be subject to a hold period that will expire four months and one day from the
date of issue.
Unigold Inc. Press Release: PR2022-07, July 26, 2022
2
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, the OTCQX exchange under the symbol UGDIF, and on the
Frankfurt Stock Exchange under the symbol UGB1. The multi-million ounce Candelones gold
deposits are within the 100% owned Neita Fase II exploration concession located in Dajabón
province, in the northwest part of the Dominican Republic. In the third quarter of 2022 the
Company expects to deliver a feasibility study and a baseline environmental report for the
Oxide portion of the Candelones deposit. The Company applied to convert a part of the Neita
Fase II concession into an Exploitation Concession in late February 2022. The application has
moved smoothly through various permitting stages and the Company expects that a decision
will be given on the application in the third quarter of 2022. Unigold has been active in the
Dominican Republic since 2002 and remains the most active exploration Company in the
country. The Neita Fase II exploration concession is the largest single exploration concession
covering 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 area that host surface expressions of gold systems. Unigold has been
concentrating on the Candelones mineralization and is moving to bring these deposits into
production.
For further information please visit 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 f ederal 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 th e 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.