Unigold (UGD) is pleased to announce an increase in the size of its previously announced non-brokered private placement.
The private placement will now consist of up to 25,192,350 units for $0.13 per unit for gross proceeds of up to $3,275,005.
Each unit will consist of one common share and one-half of one common share purchase warrant. Each warrant will entitle the holder to purchase one common share at an exercise price of $0.30 for two years following the date of issue, or 30 days after the date on which Unigold publishes a notice of acceleration.
The proceeds from the offering will fund the company's continued exploration and development on its Neita Concession in the Dominican Republic, and for general working capital purposes.
Finder's fees are expected to be paid in connection with the completion of the Offering under TSX Venture Exchange policies.
Closing of the offering may be completed in multiple tranches and subject to certain closing conditions, including conditional approval from the TSX Venture Exchange and receipt of any other required regulatory approvals.
Unigold is a Canadian-based mineral exploration company focused primarily on exploring and developing its gold assets in the Dominican Republic.
Unigold Inc. (UGD) opened trading at C$0.125 per share.