Published: October 14, 2011
TORONTO, Ontario, October 14, 2011: Unigold Inc. (UGD-TSX.V) is pleased to announce a proposed non-brokered private placement of up to 25,000,000 units of securities at $0.10 per unit (each, a "Unit") for gross proceeds of up to $2,500,000 (the "Offering"). Each Unit comprises one common share of the Corporation ("Common Share") and one-half of one Common Share purchase warrant (each whole Common Share purchase warrant, a "Warrant"), with each Warrant entitling the holder thereof to acquire one Common Share at a price of $0.15 per share at any time within two years after the issuance of the Warrant.
The gross proceeds from the sale of the Units will be used for exploration on Unigold's properties in the Dominican Republic and for general corporate purposes.
In connection with the Offering, Unigold may pay a finder's fee. The finder's fee will consist of a 7% cash commission and a finder's warrant (the "Finder's Warrant") equal to 7% of the number of Units referred. Each Finder's Warrant shall be exercisable into one Common Share at a price of $0.10 per share for a period of two years from the date of closing.
It is anticipated that the Offering will close on or about October 31, 2011. The Offering is subject to the receipt of all regulatory or other approvals that may be necessary in order to complete the transactions contemplated herein. All securities to be issued pursuant to this Offering will be subject to a statutory four month hold period.About Unigold Inc.
Unigold is a growth-oriented junior natural resource company focused primarily on exploring and developing a large land position in the Dominican Republic which is highly prospective for gold mineralization.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Mr. Andrew Cheatle, President and CEO (+1 (416) 866-8157)
Web site: www.unigoldinc.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.