Desert Gold Announces Non-Brokered Private Placement
Desert Gold Announces 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") 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 Scharf
President & CEO
ABOUT DESERT GOLD
Desert 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
.
CONTACT
Jared Scharf, President & CEO
Email:
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 Offering. 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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/104570