Delta, British Columbia, January 25, 2019. Desert Gold Ventures Inc. (the “Company”) (TSX.V: DAU, FF: QXR2, OTC: DAUGF) announces it has closed its non-brokered private placement, which has been over subscribed, raising further aggregate proceeds of $334,019 through the sale of a further total 2,251,500 units at $0.15 per Unit (“Financing”). Each Unit is comprised of one common share and one common share purchase warrant (“Warrant”). The Company previously closed a first tranche of this Financing on December 17, 2018, raising $540,000.
Each Warrant entitles the holder to purchase one additional common share of the Company at a price of CDN $0.15 per share for a period of two (2) years from the closing of the Financing.
All securities issued as a result of closing are subject to a statutory hold period. In connection with closing the Company paid a finder’s fee consisting of a cash fee of $3,706.50 and 24,710 non–transferable finder’s warrants having the same terms as the Warrant accompanying this Financing. The Financing is subject to approval of the TSX Venture Exchange.
The proceeds of the Financing will be used for exploration activities at the Company’s projects in Western Mali and working capital.
ON BEHALF OF THE BOARD
President & Director
+1 (858) 247-8195
For further information please visit www.SEDAR.com under the company’s profile.
About Desert Gold
Desert Gold Ventures Inc. is an advanced exploration and development company which holds 3 gold exploration permits in Western Mali (Farabantourou, Segala West and Djimbala) and a mining license at its Rutare project in central Rwanda.
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 Financing. 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 mineral resources; and the degree to which factors which would make a mineral deposit commercially viable are present; the risks and hazards associated with mining operations. Risks and uncertainties about the Company's business are more fully discussed in the company's disclosure materials filed with the securities regulatory authorities in Canada and available at www.sedar.com and readers are urged to read these materials. The Company assumes no obligation to update any forward-looking statement or to update the reasons why actual results could differ from such statements unless required by law.
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.