Unigold announces non-brokered private placement of up to $3M

Unigold Inc (CVE:UGD) (OTCQX:UGDIF) (FRA:UGB1) announced it has arranged a non-brokered private placement as it advances its Neita concession in the Dominican Republic.  The company said it will issue up to 23,076,923 units at $0.13 each for gross proceeds of up to $3 million. Each unit will consist of one common share and one-half of one common share purchase unit. The warrants will entitle the holder to buy a common share at an exercise price of $0.30.  READ: Unigold reports drill results from Candelones in the Dominican Republic, which underline project's potential “The proceeds from the offering will be used to fund the company's continued exploration and development on its Neita concession in the Dominican Republic, and for general working capital purposes,” Unigold said in a statement. Finder's fees may be paid in connection with the completion of the offering in accordance with TSX Venture Exchange policies, the company noted. Toronto-based Unigold is a junior natural resource company focused on exploring and developing its gold project in the Dominican Republic - a country highly prospective for gold and polymetallic mineralization.   The 21,031 hectare Neita concession is the largest single project within the 75km-wide Cretaceous-age Tireo-formation volcano sedimentary rocks, known for hosting major gold-copper-silver deposits.  Unigold has over 20 prospective targets within the concession and is concentrating its activities on the Candelones deposits – a series of early VMS and disseminated deposits overprinted by epithermal feeders in acid volcaniclastic rocks. Contact the author at stephen.gunnion@proactiveinvestors.com