C$1.57 million greenshoe partially exercised; deal to fund gold assets
By Devika Patel
Knoxville, Tenn., March 9 - Unigold Inc. said it settled a C$10.52 million private placement of units. The placement priced for C$10 million on Feb. 17 and was increased to C$10.44 million with a C$1.57 million greenshoe a few hours later.
The company sold 35,053,300 units of one common share and one half-share warrant at C$0.30 per unit. Of the units, 253,300 were part of the partially exercised greenshoe.
Each whole warrant will be exercisable at C$0.50 until March 8, 2014. The strike price reflects a 69.49% premium to the Feb. 16 closing share price of C$0.295.
The offering was conducted on a bought-deal basis by a syndicate of underwriters led by Dundee Securities Ltd., co-led by Primary Capital Inc. and including Stifel Nicolaus Canada Inc., Clarus Securities Inc. and PowerOne Capital Markets Ltd.
Proceeds will be used to advance the exploration and development of the company's gold assets in the Dominican Republic and for general corporate purposes
Toronto-based Unigold is a gold exploration company.
| Issuer: | Unigold Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$10,515,990 (including C$75,990 greenshoe)
|
| Units: | 35,053,300
|
| Price: | C$0.30
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | March 8, 2014
|
| Warrant strike price: | C$0.50
|
| Underwriters: | Dundee Securities Ltd. (lead), Primary Capital Inc. (co-lead), Stifel Nicolaus Canada Inc., Clarus Securities Inc. and PowerOne Capital Markets Ltd.
|
| Pricing date: | Feb. 17
|
| Upsized: | Feb. 17
|
| Settlement date: | March 9
|
| Stock symbol: | TSX Venture: UGD
|
| Stock price: | C$0.295at close Feb. 16
|
| Market capitalization: | C$46.07 million
|
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