Proceeds used for exploration on properties in the Dominican Republic
By Devika Patel
Knoxville, Tenn., Dec. 21 - Unigold Inc. said it raised C$400,000 in the second and final tranche of a C$2.48 million non-brokered private placement of units. The deal priced for C$2.5 million Oct. 14 and raised an initial C$2.08 million on Nov. 17.
The company sold 20.8 million units of one flow-through common share and one half-share warrant at C$0.10 per unit in the first tranche and 4 million units in the second tranche.
Each whole warrant will be exercisable at C$0.15 until Nov. 17, 2013. 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.
|
| Issue: | Units of one flow-through common share and one half-share warrant
|
| Amount: | C$2.48 million
|
| Units: | 24.8 million
|
| Price: | C$0.10
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Nov. 17, 2013
|
| Warrant strike price: | C$0.15
|
| Agent: | Non-brokered
|
| Pricing date: | Oct. 14
|
| Settlement dates: | Nov. 17 (for C$2.08 million), Dec. 21 (for C$400,000)
|
| Stock symbol: | TSX Venture: UGD
|
| Stock price: | C$0.125 at close Oct. 13
|
| Market capitalization: | C$16.39 million
|
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