Unigold Inc. - Closure of $5,000,000 Private Placement with IFC

TORONTO, June 10, 2013 /CNW/ - Unigold Inc. (TSXV:UGD)

Further to the announcement on May 29, 2013, Unigold Inc. ("Unigold" or the "Company") is pleased to announce the closing of the previously announced private placement (the "Private Placement") of securities to International Finance Corporation ("IFC") for proceeds of CAD$5,000,000.

The Private Placement resulted in the issuance of 20,000,000 units ("Units") at a price of $0.25 per Unit. Each Unit was composed of one common share of Unigold and three-quarters (¾) of one common share purchase warrant (each whole warrant a "Warrant"). Each Warrant will entitle the holder thereof to purchase one common share of Unigold (a "Warrant Share") at an exercise price of CAD$0.50 until June 10, 2017, subject to Unigold's right to accelerate the expiration of the warrants in certain circumstances. The securities issued under the Private Placement are subject to a four month hold period in Canada, which expires on October 11, 2013. Assuming no exercise of the Warrants, the common shares of the Company issued to IFC represent 8.94% of the outstanding shares of the Company. Assuming the exercise of all Warrants, IFC would hold 13.53% of the outstanding common shares of the Company on a partially diluted basis.

About Unigold Inc. - Discovering Gold in the Caribbean

Unigold is a Canadian mineral exploration company traded on the TSX Venture Exchange under the symbol UGD, focused primarily on exploring and developing its gold assets, notably the Neita Property in the Dominican Republic.

About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. The IFC help developing countries achieve sustainable growth by financing investment, mobilizing capital in international financial markets, and providing advisory services to businesses and governments. In FY12, investments reached an all-time high of more than $20 billion, leveraging the power of the private sector to create jobs, spark innovation, and tackle the world's most pressing development challenges. For more information, visit www.ifc.org.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities of Unigold in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or unless an exemption from such registration is available.

Cautionary Language and Forward-Looking Statements

Neither the TSX Venture Exchange, nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release includes certain statements that may be deemed "forward-looking statements". All statements in this discussion, other than statements of historical facts, that address future exploration drilling, exploration activities, anticipated metal production, internal rate of return, estimated ore grades, commencement of production estimates and projected exploration and capital expenditures (including costs and other estimates upon which such projections are based) and events or developments that Unigold expects, are forward-looking statements. Although Unigold believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include metal prices, exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Accordingly, readers should not place undue reliance on forward-looking statements.

SOURCE Unigold Inc.

Copyright 2013 Canada NewsWire