Unigold Announces Notice of Warrant Acceleration
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION TO UNITED STATES
TORONTO, April 28, 2021 (GLOBE NEWSWIRE) -- Unigold Inc. (TSX.V: UGD, OTCQX: UGDIF) ("Unigold" or the "Company") announced today that it has elected to exercise its right under the terms of a warrant certificate dated September 18, 2019 (the “Warrant Certificate”) governing the common share purchase warrants of the Company issued on September 18, 2019 (the “Warrants”) to accelerate the expiry date of the Warrants.
Pursuant to the Warrant Certificate, the Company may accelerate the expiry of these Warrants at any time prior to 5:00 pm (Toronto time) on September 18, 2021 in the event the closing price of the common shares of the Company ("Common Shares") on the TSX Venture Exchange exceeds $0.30 for at least 20 consecutive trading days (the “Trigger Event”) by providing written notice to the warrant holders (the "Acceleration Notice"). The Warrants will, unless exercised, expire on the 30th day after the Company provides the Acceleration Notice (the "Accelerated Expiry Date").
As of the close of markets on March 15, 2021, the closing price of the Common Shares has traded in excess of $0.30 for at least 20 consecutive trading days. Accordingly, the expiry date for the Warrants is accelerated to May 31, 2021.
As of April 23, 2021, a total of 3,620,000 Warrants have yet to be exercised. Each Warrant is exercisable to acquire one common share at an exercise price of $0.15. If all Warrants are exercised, proceeds to the Company will total $543,000.
About Unigold Inc.
Unigold Inc. (TSX.V: UGD, OTCQX:UGDIF) is a Canadian based mineral exploration company traded on the TSX Venture Exchange under the symbol UGD, focused primarily on exploring and developing its gold assets in the Dominican Republic.
Cautionary Statement Regarding Forward-Looking Information
Certain statements contained in this document, including statements regarding events and financial trends that may affect our future operating results, financial position and cash flows, may constitute forward-looking statements within the meaning of the federal securities laws. These statements are based on our assumptions and estimates and are subject to risk and uncertainties. You can identify these forward-looking statements by the use of words like “may”, “interpreted”, “strategy”, “expects”, “plans”, “believes”, “will”, “estimates”, “intends”, “projects”, “goals”, “targets”, and other words of similar meaning. You can also identify them by the fact that they do not relate strictly to historical or current facts. We wish to caution you that such statements contained are just predictions or opinions and that actual events or results may differ materially. 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, or to update the reasons why actual results could differ materially from those projected in 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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
For further information please visit unigoldinc.com or contact: Mr. Joseph A. Hamilton Chairman and CEO +1-416-866-8157 jhamilton@unigoldinc.com
