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Desert Gold Announces Non-Brokered Private Placement and CAD $910,000 in Lead Orders
Surrey, British Columbia--(Newsfile Corp. - April 23, 2024) - Desert Gold Ventures Inc.  (T...
About this update from Desert Gold Ventures Inc.
[{"type":"text","content":"Desert Gold Announces Non-Brokered Private Placement and CAD $910,000 in Lead OrdersSurrey, British Columbia--(Newsfile Corp. - April 23, 2024) - Desert Gold Ventures Inc. (TSXV: DAU) (FSE: QXR2) (OTCQB: DAUGF) (\"Desert Gold\" or \"the Company\") announces that, subject to exchange approval and the right to increase the offering, it will conduct a non-brokered private placement of up to 13,000,000 units at a price of CAD $0.07 per unit (the \"Unit\") to raise up to CAD $910,000 (the \"Financing\"). Lead orders from this round of funding combined with its recently closed financing (see Company press release dated March 26, 2024) have secured a total of CAD $2,029,520 in aggregate proceeds for the Company in the last 30 days.Each Unit will consist of one common share in the equity of the Company and a share purchase warrant (the \"Warrant\"). Each Warrant entitles the holder to purchase one additional common share of the Company at a price of CAD $0.08 per common share for a period of three (3) years from the closing of the Financing. The Company may pay a finder's fee to qualified individuals in respect to the Financing. Securities issued from the Financing will be subject to a statutory hold period. The Company intends to close the initial CAD $910,000 in lead orders upon exchange approval. Due to additional interest in the Financing, the Company may upsize and extend the close of its offering in the coming days.The proceeds of the Financing will be used primarily to complete additional reverse circulation and air core drilling over the Mogoyafara South Deposit and the southeast extension of the Barani East Deposit. Drilling will also be completed over four nearby exploration target areas; Frikidi, Soa/Soa South, Kolon and Keniebandi. Holes drilled over the Mogoyafara South deposit (12.29 million tonnes containing 412,800 ounces of gold*) will focus on testing the extension of known gold zones and validation of the resource wire frame modes. Air core holes planned over the southeast extension of the Barani East Deposit will test the continuity of the oxide gold zones, which will in turn, support the Company's ongoing PEA**. Holes drilled over the exploration target areas will follow up on previously released drill intercepts (to 2.04 g/t Au over 30m at Soa***) and select gold-in-auger anomalies (See Figure 1 at the end of ...