Surrey, British Columbia, January 30, 2017, DESERT GOLD VENTURES INC. (“Desert Gold” or the “Company”) (TSX.V: DAU/FF: QXR2/OTC: DAUGF) announces that it held its extraordinary meeting on January 5, 2017 (the "Meeting"). At the Meeting shareholders approved the termination of the Company's 2012 Fixed Option Plan and the implementation of a 10% rolling Option Plan in its place, which is subject to approval by the Toronto Venture Stock Exchange.
Shareholders also approved a grant of 258,880 excess stock options to directors and officers, exercisable at $0.30 until October 24, 2018 which were granted under the Company's said terminated fixed option plan in late 2016. The Company has granted a further aggregate of 260,509 stock options to its directors and officers pursuant to its new 10% rolling Option Plan, exercisable at $0.30 for a period of five (5) years from today.
The Company is pleased to announce that Mr. Scharf, currently a director of the board, will now assume the position of President of the Company effective immediately.
ON BEHALF OF THE BOARD
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 services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein in the united states. The securities described herein have not been and will not be registered under the united states securities act of 1933, as amended, and may not be offered or sold in the united states or to the account or benefit of a U.S. person absent an exemption from the registration requirements of such act.