SURREY, British Columbia, June 8, 2015 - Desert Gold Ventures Inc. (TSX-V: DAU) (the "Company" or "Desert Gold") announces that it has set down a Special Shareholder Meeting to be held July 10, 2015 to obtain shareholder approval to consolidate its common shares on a ratio of 1 for up to 10 ("Consolidation"). The Company believes the Consolidation will increase its flexibility with respect to equity financings. The Company does not intend to change its name.
The table below sets out the approximate shares that would be outstanding upon completion of the consolidation.
|Issued and Outstanding Listed Shares (including escrowed securities)||52,068,035||5,206,803|
|Stock Option Grants||1,325,000||132,500|
Any fractional shares resulting from the consolidation of the Common shares shall be converted such that each fractional Common share remaining after conversion that is less than one-half of a Common share be cancelled and each fractional Common share that is at least one-half of a Common share be changed to one whole Common share pursuant to the provisions of the Business Corporations Act (British Columbia);
This proposed consolidation subject to the approval of the TSX Venture Exchange.
ON BEHALF OF THE BOARD,
Chief Executive Officer
Desert Gold Ventures Inc.
+1 (604) 592 6881
For further information please visit our website www.desertgold.ca or information available on www.SEDAR.com under the company’s profile.
Certain statements contained in this release may constitute "forward–looking statements" or "forward-looking information" (collectively "forward-looking information") as those terms are used in the Private Securities Litigation Reform Act of 1995 and similar Canadian laws. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated”, “anticipates” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the business of the Company, the Property, financing and certain corporate changes. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this new release.