Unigold Inc. announced a non-brokered private placement of 13,750,000 units at an issue price of CAD 0.08 per unit for gross proceeds of CAD 1,100,000 on October 31, 2022. Each unit consist of one common share and one-half of one common share purchase warrant. Each whole 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.

No finders' fees were paid in connection with this closing of the transaction. The securities issued under this private placement are subject to a four-month hold period until March 1, 2023. The transaction is subject to final acceptance of the TSX Venture Exchange.