Business
Ashanti Gold Shareholders Approve Business Combination with Desert Gold
Delta, British Columbia--(Newsfile Corp. - May 14, 2019) - Desert Gold Ventures Inc. (TSXV:...
About this update from Desert Gold Ventures Inc.
[{"type":"text","content":"Ashanti Gold Shareholders Approve Business Combination with Desert GoldDelta, British Columbia--(Newsfile Corp. - May 14, 2019) - Desert Gold Ventures Inc. (TSXV: DAU) (FSE: QXR2) (OTC PINK: DAUGF) (\"Desert Gold\" or \"the Company\") is pleased to announce that the previously disclosed business combination between Ashanti Gold and the Company was approved at yesterday's special meeting of Ashanti Gold shareholders.ABOUT THE ASHANTI GOLD ACQUISITION On April 1, 2019 the Company announced that it had entered into a definitive agreement to acquire Ashanti Gold Corp by way of a 3-cornered amalgamation (\"the Combination Agreement\"). Pursuant to the Combination Agreement, Desert Gold will acquire all of the issued and outstanding common shares of Ashanti on the basis of 0.2857 Desert Gold common shares for each Ashanti Share. The transaction is expected to close by the end of May 2019 and is subject to regulatory approvals and is conditional on Ashanti being granted a new exploration license over the Kossanto East exploration permit area in Western Mali.ON BEHALF OF THE BOARD\"Jared Scharf\"___________________________Jared ScharfPresident & DirectorABOUT DESERT GOLDDesert Gold Ventures Inc. is a gold exploration and development company which holds 3 gold exploration permits in Western Mali (Farabantourou, Segala West and Djimbala) and its Rutare gold project in central Rwanda. For further information please visit www.SEDAR.com under the company's profile. Website: www.desertgold.caCONTACTJared Scharf, President and DirectorEmail: [email protected]. No.: +1 (858) 247-8195This news release contains forward-looking statements respecting the Company's ability to successfully complete the Offering. These forward-looking statements entail various risks and uncertainties that could cause actual results to differ materially from those reflected in these forward-looking statements. Such statements are based on current expectations, are subject to a number of uncertainties and risks, and actual results may differ materially from those contained in such statements, including the inability of the Company to successfully complete the Offering. These uncertainties and risks include, but are not limited to, the strength of the capital markets, the price of gold; operational, funding, and liquidity risks; the degree to which minera...