Proceeds used for exploration on properties in the Dominican Republic
By Devika Patel
Knoxville, Tenn., Nov. 17 - Unigold Inc. said it raised C$2.08 million in the initial tranche of a C$2.5 million non-brokered private placement of units. The deal priced Oct. 14.
The company is selling 25 million units of one flow-through common share and one half-share warrant at C$0.10 per unit. It sold 20.8 million units in the first tranche.
Each whole two-year warrant will be exercisable at C$0.15. The strike price is a 20% premium to C$0.125, the Oct. 13 closing share price.
Proceeds will be used for exploration on Unigold's properties in the Dominican Republic and for general corporate purposes.
Toronto-based Unigold is a gold exploration company.
Issuer: | Unigold Inc.
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Issue: | Units of one flow-through common share and one half-share warrant
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Amount: | C$2.5 million
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Units: | 25 million
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Price: | C$0.10
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Warrants: | One half-share warrant per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$0.15
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Agent: | Non-brokered
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Pricing date: | Oct. 14
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Settlement date: | Nov. 17 (for C$2.08 million)
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Stock symbol: | TSX Venture: UGD
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Stock price: | C$0.125 at close Oct. 13
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Market capitalization: | C$15.65 million
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