Unigold Inc.: Completion of the IFC Subscription Agreement

TORONTO, ONTARIO--(Marketwired - May 30, 2013) - Unigold Inc. ("Unigold") (TSX VENTURE:UGD)

Further to the press release dated April 16, 2013, Unigold is pleased to announce that following the requisite disclosure period, Unigold has entered into a binding subscription agreement with International Finance Corporation ("IFC"), a member of the World Bank Group, confirming the investment by IFC of CAD$5,000,000 in securities of Unigold, as more particularly described below.

"Unigold is pleased to welcome IFC as a shareholder and partner for the Neita project," said Andrew Cheatle, President and Chief Executive Officer of Unigold. "We look forward to drawing upon IFC's expertise to help ensure that the progress at Neita follows global best practices for the mineral exploration industry, the environment, and for working with local communities."

"We believe Unigold, IFC's first mining investment in the Dominican Republic, has the leadership and resources to make the Neita project a success," said Tom Butler, IFC Global Head for Mining. "This investment aligns with our strategy to support projects with the potential to bring long term economic benefits to developing countries."

IFC's support to the Neita project is expected to help promote good environmental and social standards in the Dominican Republic's mining sector and send a positive signal for future foreign direct investment in the country.

IFC has agreed to acquire 20 million units ("Units") of Unigold in a private placement transaction (the "Financing"). Each Unit will be composed of one common share of Unigold (each a "Unit Share") and three-quarters (³/₄) 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 for a period of four years from the date of issue, subject to Unigold's right to accelerate the expiration of the warrants in certain circumstances.

The Units will be issued at a price of CAD$0.25 per Unit, for gross proceeds to Unigold of CAD$5,000,000. It is expected that upon the closing of the Financing there will be 243,713,235 Common Shares outstanding. Immediately upon the closing of the Financing, it is expected that IFC will hold 8.2 percent of Unigold's outstanding common shares and approximately 13.5 percent of the Unigold's outstanding common shares, assuming the exercise of all of the Warrants to be held by IFC.

The closing of the issue and sale of the Units is expected to occur in June, 2013. The Unit Shares, Warrants and, if applicable, Warrant Shares will be subject to a four month hold period in Canada.

About Unigold Inc. - Discovering Gold in the Caribbean

Unigold is a Canadian based 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. It helps developing countries achieve sustainable growth by financing investment, mobilizing capital in international financial markets, and providing advisory services to businesses and governments. In FY12, its 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

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.