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 diluted basis.
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 Dominican Republic.
About IFC
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 statements.
SOURCE Unigold Inc.