Business
Desert Gold Ventures Announces C$3 Million Non-Brokered Private Placement
Surrey, British Columbia--(Newsfile Corp. - November 22, 2021) - Desert Gold Ventures Inc. (TSXV: DAU) (FSE: QXR2) (OTCQB: DAUGF) ("Desert Gold" or "the Company
About this update from Desert Gold Ventures Inc.
[{"type":"text","content":" Surrey, British Columbia--(Newsfile Corp. - November 22, 2021) - Desert Gold Ventures Inc. (TSXV: DAU) (FSE: QXR2) (OTCQB: DAUGF) (\"Desert Gold\" or \"the Company\") announces that, subject to exchange approval, it will conduct a non-brokered private placement of up to 21,428,571 units at a price of CAD $0.14 per unit (the \"Unit\") to raise up to CAD $3,000,000 (the \"Financing\"). Each Unit will consist of one common share in the equity of the Company and a half 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 $0.25 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 as a result of the Financing will be subject to a statutory hold period. The proceeds of the Financing will be used primarily for drilling and exploration activities at the Company's flagship Senegal Mali Shear Zone Project (the \"SMSZ Project\") in Western Mali. Should any directors and officers of the Company acquire Units under the Financing such participation is considered to be a related party transaction as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (\"MI 61-101\"). The transaction will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 if neither the fair market value of any securities issued to or the consideration paid by such persons will exceed 25% of the Company's market capitalization. ON BEHALF OF THE BOARD \"Jared Scharf\" ___________________________Jared ScharfPresident & CEO 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. CONTACTJared Scharf, President & CEOEmail: [email protected] 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 res...