TSX-V approves Warrant Extension

TORONTO, Dec. 05, 2022 (GLOBE NEWSWIRE) -- Unigold Inc. ("Unigold" or the "Company") (TSX-V:UGD; OTCQX: UGDIF; FSE:UGB1) announces that the TSX-V has approved the extension of the expiry dates of a total of 16,629,167 share purchase warrants (the "Warrants"), by six months to June 23, 2023 (the "Warrant Extension"). The Warrants were issued pursuant to a private placement which closed on June 23, 2020. Each Warrant entitles the holder thereof to acquire one common share of the Company at a price of $0.30 per common share and all other terms of the Warrants, including exercise price, will remain the same.

A total of 150,650 Warrants are held by parties who are considered to be "related parties" of the Company. Therefore, the amendment of Warrants constitutes a "related party transaction" as contemplated by Multilateral Instrument 61-101 Protection of Minority Shareholders in Special Transactions, and TSXV Policy 5.9 ? Protection of Minority Shareholders in Special Transactions. However, the exemptions from formal valuation and minority approval requirements provided for by these guidelines have been relied upon as the fair market value of the Warrants held by insiders does not exceed 25% of the market capitalization of the Company.

Forward-looking Statements
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