Unigold Proposes to Extend Warrants
Unigold Proposes to Extend Warrants
Toronto, Ontario--(Newsfile Corp. - December 6, 2024) - 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 to June 23, 2025. Each of these warrants 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 a private placement which closed on June 23, 2020 and include 193,060 warrants
which were issued to insiders. The warrants are set to expire on December 31, 2024.
In addition, the Company intends to extend the expiry dates of a total of 53,433,675 share purchase
warrants to December 31, 2025.
Each of these warrants 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 31, 2024:
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.
8,008,750 warrants, including 850,000 warrants issued to insiders, were issued as part of a
private placement that closed on May 10, 2023.
16,053,750 warrants, including 528,750 warrants issued to insiders,
were issued from a private
placement that closed on May 16, 2023.
The Company has made an application to the TSX Venture Exchange (the "TSXV") in respect of the
Warrant Extensions. The Warrant Extensions are subject to the approval of the TSXV.
A total of 3,797,660 warrants are held by parties who are considered to be "related parties" of the
Company. Therefore, the amendment of these 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
.
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/232761