Non-brokered deal funds exploration, development, corporate purposes
By Devika Patel
Knoxville, Tenn., June 25 – Unigold Inc. said raised C$1.02 million in the first tranche of a C$1.5 million non-brokered private placement of stock.
The company is selling 7.5 million common shares at C$0.20 apiece. The price per share represents a 33.33% premium to C$0.15, the June 24 closing share price. It sold 5.1 million shares to Osisko Gold Royalties Ltd. in the initial tranche.
Proceeds will be used for exploration and development of the company's gold assets in the Dominican Republic and general corporate purposes.
Toronto-based Unigold is a gold exploration company.
| Issuer: | Unigold Inc.
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| Issue: | Common stock
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| Amount: | C$1.5 million
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| Shares: | 7.5 million
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| Price: | C$0.20
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| Warrants: | No
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| Agent: | Non-brokered
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| Investor: | Osisko Gold Royalties Ltd. (for C$1.02 million)
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| Settlement date: | June 25 (for C$1.02 million)
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| Stock symbol: | TSX Venture: UGD
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| Stock price: | C$0.15 at close June 24
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| Market capitalization: | C$3.78 million
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