TORONTO, June 10, 2013 /CNW/ - Unigold Inc. (TSXV:UGD)
Further to the announcement on May 29, 2013, Unigold Inc. ("Unigold" or the "Company") is pleased to announce the closing of the previously announced
private placement (the "Private Placement") of securities to International Finance Corporation ("IFC") for proceeds of CAD$5,000,000.
The Private Placement resulted in the issuance of 20,000,000 units ("Units") at a price of $0.25 per Unit. Each Unit was composed of one common
share of Unigold and three-quarters (¾) of one common share purchase
warrant (each whole warrant a "Warrant"). Each Warrant will entitle the holder thereof to purchase one common
share of Unigold (a "Warrant Share") at an exercise price of CAD$0.50 until June 10, 2017, subject to
Unigold's right to accelerate the expiration of the warrants in certain
circumstances. The securities issued under the Private Placement are
subject to a four month hold period in Canada, which expires on October
11, 2013. Assuming no exercise of the Warrants, the common shares of
the Company issued to IFC represent 8.94% of the outstanding shares of
the Company. Assuming the exercise of all Warrants, IFC would hold
13.53% of the outstanding common shares of the Company on a partially
About Unigold Inc. - Discovering Gold in the Caribbean
Unigold is a Canadian mineral exploration company traded on the TSX
Venture Exchange under the symbol UGD, focused primarily on exploring
and developing its gold assets, notably the Neita Property in the
IFC, a member of the World Bank Group, is the largest global development
institution focused exclusively on the private sector. The IFC help
developing countries achieve sustainable growth by financing
investment, mobilizing capital in international financial markets, and
providing advisory services to businesses and governments. In FY12,
investments reached an all-time high of more than $20 billion,
leveraging the power of the private sector to create jobs, spark
innovation, and tackle the world's most pressing development
challenges. For more information, visit www.ifc.org.
This news release does not constitute an offer to sell or a solicitation
of an offer to buy any of the securities of Unigold in the United
States, nor shall there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be
unlawful. The securities offered have not been and will not be
registered under the United States Securities Act of 1933, as amended
(the "U.S. Securities Act") or any U.S. state securities laws and may
not be offered or sold within the United States or to, or for the
account or benefit of, U.S. Persons unless registered under the U.S.
Securities Act and applicable state securities laws or unless an
exemption from such registration is available.
Cautionary Language and Forward-Looking Statements
Neither the TSX Venture Exchange, nor its Regulation Services Provider
(as that term is defined in policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
This press release includes certain statements that may be deemed
"forward-looking statements". All statements in this discussion, other
than statements of historical facts, that address future exploration
drilling, exploration activities, anticipated metal production,
internal rate of return, estimated ore grades, commencement of
production estimates and projected exploration and capital expenditures
(including costs and other estimates upon which such projections are
based) and events or developments that Unigold expects, are
forward-looking statements. Although Unigold believes the expectations
expressed in such forward-looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance
and actual results or developments may differ materially from those in
forward-looking statements. Factors that could cause actual results to
differ materially from those in forward-looking statements include
metal prices, exploration successes, continued availability of capital
and financing, and general economic, market or business conditions.
Accordingly, readers should not place undue reliance on forward-looking
SOURCE: Unigold Inc.
For further information:
For Further Information please visit www.unigoldinc.com or contact:
Mr. Andrew M. Cheatle, P.Geo.
President & CEO
Ms. Amanda Dillon