Increases Offering Size To $3,275,005
Unigold Inc. (TSXV:UGD, OTCQX:UGDIF) has elected to increase the size of its previously announced non-brokered private placement doe to oversubscribed demand.
The private placement will now consist of up to 25,192,350 Units at a price of $0.13 per Unit for gross proceeds of up to $3,275,005
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 is a Canadian based mineral exploration company focused primarily on exploring and developing its gold assets in the Dominican Republic. The Candelones oxide gold deposit is within the 100% owned Neita Fase II exploration concession located in Dajabón province, in the northwest part of the Dominican Republic.
The Candelones project area is about 20 km south of the town of Restauraćion. The oxide deposit occurs at surface as a result of the tropical weathering of underlying mineralization. Unigold has been active in the Dominican Republic since 2002 and remains the most active exploration Company in the country.
The Neita Fase II exploration concession is the largest single exploration concession covering volcanic rocks of the Cretaceous Tireo Formation. This island arc terrain is host to Volcanogenic Massive Sulphide deposits, Intermediate and High Sulphidation Epithermal Systems and Copper-gold porphyry systems.
Unigold has identified over 20 areas within the concession area that host surface expressions of gold systems. Unigold has been concentrating on the Candelones mineralisation and continues to expand the deeper sulphide resources with on-going drilling.
For further information please visit: http://www.unigoldinc.com