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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.
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