Unigold Proposes to Extend Warrants
Unigold Proposes to Extend Warrants
Toronto, Ontario--(Newsfile Corp. - June 1, 2023) - Unigold Inc. (TSXV: UGD) (OTCQB: UGDIF) (FSE:
UGB1) ("Unigold" or the "Company") announces that the Company intends to extend the expiry dates 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.
The Company has made an application to the TSX Venture Exchange (the "TSXV") in respect of the
Warrant Extension. The Warrant Extension is subject to the approval of the TSXV.
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/168310