Unigold Inc. (TSX-V:UGD, OTCQX:UGDIF) has announced a non-brokered private placement of up to 18,000,000 units at a price of $0.13 per unit, to raise gross proceeds of up to $2,340,000. The proceeds from the offering will fund the continued exploration and development of its Neita Concession in the Dominican Republic and for general working capital purposes.
The Canadian junior said each new unit will consist of one common share and one common share purchase warrant, entitling the holder to buy a common share at an exercise price of $0.15 for four months and a day from the date of issue.
It said the closing of the offering may be completed in multiple tranches and is subject to certain closing conditions, including conditional approval from the TSX Venture Exchange and receipt of any other required regulatory approvals.
READ: Unigold closes private placement and raises more than $3.2M
Unigold is a Canadian-based mineral exploration company focused primarily on exploring and developing its gold assets in the Dominican Republic.
The Neita Concession property is considered the largest single project within a 75 kilometres-wide Cretaceous-age area known for hosting major gold-copper-silver deposits.
At Neita, Unigold is focused on the Candelones oxide gold deposit within the wholly-owned Neita Fase II exploration concession. It has been active in the Dominican Republic since 2002 and remains the most active exploration company in the country.
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