Unigold Inc. Raises $1.47 M in Private Placement to Fuel Dominican Gold Exploration

Unigold Inc. (TSXV: UGD) closed a non‑brokered private placement of 8,167,000 units on February 25, 2026, generating gross proceeds of $1,470,060. The offering, priced at $0.18 per unit, comprised one common share and a half‑share warrant per unit, with the warrants exercisable at $0.22 for two years.

The capital infusion is earmarked for the company’s Neita Sur concession in the Dominican Republic, a critical asset in Unigold’s pipeline, and for general working‑capital needs. All units are subject to a four‑month hold period, and the transaction awaits final TSX Venture Exchange approval.

Insider Participation Raises Governance Concerns

The offering saw significant insider involvement. Director Andrés Marranzini purchased 3,111,100 units, while Director Juana Barcelo acquired 3,888,900 units, totaling 7,000,000 units. Under Multilateral Instrument 61‑101 (MI 61‑101) and TSX Venture Exchange policy 5.9, these are classified as related‑party transactions. Unigold will file a material change report with SEDAR detailing these subscriptions. While the infusion bolsters the balance sheet, the concentration of ownership among a few insiders may prompt scrutiny from minority shareholders and regulators.

Market Context: A Company at the Bottom of Its Range

Unigold’s share price, trading at $0.28 on February 23, sits at the 52‑week high and barely above the 52‑week low of $0.07 recorded in May 2025. The company’s market cap of approximately 75 million CAD and a trailing price‑earnings ratio of –33.8 reflect the inherent volatility of a junior mining entity. Investors must weigh the upside potential of the Dominican project against the risk profile of a company that has yet to produce commercial gold.

In a parallel narrative, JG Resources Limited, a different entity linked to a Turkish firm, has become embroiled in a $17 million gold dispute that escalated to the High Court in Ghana. While Unigold itself is not a party to this litigation, the involvement of a “Unigold Trading LLC” in the Ghana case underscores the importance of rigorous due diligence and transparent supply chains for resource companies. The Ghana dispute, involving alleged unpaid gold balances and alleged misuse of corporate signatures, highlights the reputational risks that can accompany cross‑border commodity transactions.

Bottom Line

Unigold’s successful private placement injects fresh capital into a key exploration project and provides working capital for operational needs. However, the heavy insider participation, the company’s precarious valuation, and the broader regulatory environment surrounding gold transactions—particularly the high‑profile Ghana case—suggest that stakeholders should remain vigilant. The next few quarters will be telling: if the Dominican development progresses, Unigold could justify its valuation; if not, the company may face further capital‑raising challenges and increased scrutiny from both regulators and investors.