Business
Desert Gold Announces C$6.5 Million Non-Brokered Private Placement
Delta, British Columbia--(Newsfile Corp. - August 10, 2020) - Desert Gold Ventures Inc. (TSXV: DAU) (FSE: QXR2) (OTC Pink: DAUGF) ("Desert Gold" or the "Company
About this update from Desert Gold Ventures Inc.
[{"type":"text","content":" Delta, British Columbia--(Newsfile Corp. - August 10, 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 23,214,286 units at a price of CAD $0.28 per unit (the \"Unit\") to raise CAD $6,500,000 (the \"Financing\"). Each Unit will consist of one common share in the equity of the Company and one-half common share purchase warrant (the \"Warrant\"). Each full Warrant entitles the holder to purchase one additional common share of the Company at a price of CAD $0.40 per common share for a period of three (3) years from the closing of the Financing. The Company shall pay a finder's fee to qualified individuals in respect to the Financing of 7% cash on the proceeds of the Units found. Securities issued as a result of the Financing will be subject to a statutory hold period. The proceeds of the Financing will be used primarily for exploration activities at the Company's project and secondly for general working capital purposes. ON BEHALF OF THE BOARD OF DIRECTORS CONTACTJared Scharf, President & CEODirect: +1 (858) 247 - 8195Email: [email protected] ABOUT DESERT GOLDDesert 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 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 degree to which mineral resource estimates are reflective of actual minera...