Unigold Inc. announced a private placement of up to 53,125,000 units at a price of CAD 0.08 per unit for gross proceeds of up to CAD 4,250,000 on May 3, 2023. Each unit will consist of one common share and one-half of one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one common share at an exercise price of CAD 0.30 until the date that is the earlier of: one year following the date of issue, or 30 days after the date on which the company gives notice of acceleration, which notice may be provided no earlier than four months and twenty-one days from the date of issue if the closing price of the common shares on a stock exchange in Canada is higher than CAD 0.60 per common share for more than 20 consecutive trading days.

The finder fees may be paid in connection with the completion of the offering in accordance with TSX Venture Exchange policies. The closing of the offering will be subject to certain conditions including, but not limited to, receipt of all necessary approvals including the approval of the Canadian Securities Exchange. The offering will have a hold period ending on the day that is four months and one day following its distribution date.