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TSX-V Approves Warrant Extension

17.08.2023  |  Newsfile

Toronto, August 17, 2023 - Unigold Inc. (TSXV: UGD) (OTCQB: UGDIF) (FSE:UGB1) ("Unigold" or the "Company") announces that the TSX-V has approved the expiry date extension of a total of 29,371,175 share purchase warrants (the "Warrants") to December 29, 2023 (the "Warrant Extension"). Each Warrant entitles the holder thereof to acquire one common share of the Company at a price of $0.30 per common share and all other terms of the Warrants, including exercise price, will remain the same. The Warrants were issued pursuant to the following private placements:

  • 12,596,175 warrants, including 375,850 warrants issued to insiders, were issued pursuant to a private placement which closed on August 10, 2021 and were set to expire on August 10, 2023
  • 8,750,000 warrants, including 700,000 warrants issued to insiders, were issued pursuant to a private placement which closed on September 7, 2022 and are currently set to expire on September 7, 2023
  • 1,150,000 warrants were issued pursuant to a private placement which closed on September 12, 2022 and are currently set to expire on September 12, 2023
  • 6,875,000 warrants were issued pursuant to a private placement which closed on November 1, 2022 and are currently set to expire on November 1, 2023

A total of 1,075,850 Warrants are held by parties who are considered to be "related parties" of the Company. Therefore, the amendment of Warrants constitutes a "related party transaction" as contemplated by Multilateral Instrument 61-101 Protection of Minority Shareholders in Special Transactions, and TSXV Policy 5.9 - Protection of Minority Shareholders in Special Transactions. However, the exemptions from formal valuation and minority approval requirements provided for by these guidelines can be relied upon as the fair market value of the Warrants held by insiders does not exceed 25% of the market capitalization of the Company.

For further information please visit http://www.unigoldinc.com or contact:

Mr. Joseph Hamilton
Chairman & CEO
jhamilton@unigoldinc.com
T. (416) 866-8157

Forward-looking Statements

Certain statements contained in this document may constitute forward-looking statements within the meaning of the federal securities laws. The forward-looking statements contained in this document are made as of the date hereof and we assume no obligation to update the forward-looking statements Where applicable, we claim the protection of the safe harbour for forward- looking statements provided by the (United States) Private Securities Litigation Reform Act of 1995. For more information, please visit https://www.unigoldinc.com/profile/forward-looking-statement.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/177550


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