Syndicate of agents includes M Partners and Primary Capital
By Susanna Moon
Chicago, May 2 – Unigold Inc. said it will sell C$2.5 million units consisting of one common share and one warrant in a private placement using a syndicate of agents, including M Partners and Primary Capital Inc. The deal also includes an over-allotment option for another 20% of units.
Each warrant is exercisable for 24 months at C$0.45 each, which is a 28.57% premium to the company’s closing price on April 29 of C$0.35.
Proceeds will be used to fund the company’s continued exploration and development of its gold assets in the Dominion Republic and for general working capital purposes.
The company has the right to accelerate the expiry of the warrants if the closing price of the company’s common shares closes above C$0.90 per common share for more than 20 consecutive trading days after four months and one day from closing, in which case the warrants will expire 30 days after the notice is given, according to a company announcement.
Toronto-based Unigold is a gold exploration company.
| Issuer: | Unigold Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$2.5 million
|
| Greenshoe: | For 20%
|
| Units: | 8,333,334
|
| Price: | C$0.30
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.45
|
| Agents: | M Partners and Primary Capital Inc.
|
| Pricing date: | May 2
|
| Stock symbol: | Toronto: UGD
|
| Stock price: | C$0.35 at close April 29
|
| Market capitalization: | C$11.06 million
|
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