Business
Desert Gold Announces C$2.5 Million Non-Brokered Private Placement
Delta, British Columbia--(Newsfile Corp. - February 26, 2020) - Desert Gold Ventures Inc. (TSXV: DAU) (FSE: QXR2) (OTC Pink: DAUGF) ("Desert Gold" or "the Compa
About this update from Desert Gold Ventures Inc.
[{"type":"text","content":" Delta, British Columbia--(Newsfile Corp. - February 26, 2020) - Desert Gold Ventures Inc. (TSXV: DAU) (FSE: QXR2) (OTC Pink: DAUGF) (\"Desert Gold\" or \"the Company\") announces that, subject to exchange approval, it will conduct a non-brokered private placement of up to 16,666,667 units at a price of CAD $0.15 per unit (the \"Unit\") to raise up to CAD $2,500,000 (the \"Financing\"). Each Unit will consist of one common share in the equity of the Company and one common share purchase warrant (the \"Warrant\"). Each Warrant entitles the holder to purchase one additional common share of the Company at a price of CAD $0.25 per common share for a period of two (2) years from the closing of the Financing. The proceeds of the Financing will be used primarily for drilling at the Company's flagship Senegal Mali Shear Zone Project (the \"SMSZ Project\") in Western Mali and for general working capital purposes. The Company may pay a finder's fee to qualified finders in respect to the Financing. Securities issued as a result of the Financing will be subject to a statutory hold period. ON BEHALF OF THE BOARD \"Jared Scharf\"___________________________Jared ScharfPresident & Director ABOUT DESERT GOLD Desert Gold Ventures Inc. is a gold exploration and development company which holds 2 gold exploration permits in Western Mali (SMSZ Project 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.ca CONTACTJared Scharf, President and DirectorEmail: [email protected]. No.: +1 (858) 247-8195 This 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 degr...