Desert GOLD Closes $3.50 Million Oversubscribed Non-Brokered Private Placement
4770 72 Street, Delta, British Columbia | Canada | V4K 3N3 | Office +1 (604) 357 4726 | Fax +1 (604) 592 6882
For Immediate Release
TSX.V: DAU
Frankfurt: QXR2
OTC: DAUGF
DESERT GOLD CLOSES $3.50 MILLION OVERSUBSCRIBED
NON-BROKERED PRIVATE PLACEMENT
Delta, British Columbia, July 25, 2019 Desert Gold Ventures Inc. (the “Company”) (TSX.V: DAU, FF: QXR2, OTC:
DAUGF) is pleased to announce that it has closed the second and final tranche of its non-brokered private placement (the
“Financing”). In the First Tranche the Company r aised proc eeds of $1,713,587 through the sale of 10,709,916 Units.
This second and final tranche raised $ 1,789,980 through the sale of a further 11, 243,627 Units. Securities issued as a
result of closing of this final tranche will be subject to a statutory hold period. In connection with closing this second and
final tranche, the Company will pay finders’ fees of $64,274 and issue 1,016,102 non-transferable brokers warrants (a
“Broker Warrant”). Each Broker Warrant entitles the holder to purchase one common share of the Company at a price of
$0.18 for a period of two (2) years. For the combined tranches, t he Company raised a total of $ 3,503,567 with the
Financing oversubscribed by $1,003,567.
Pursuant to the terms of the Financing, e ach Unit consists of one common share in the equity of the Company and one
common share purchase warrant (a “Warrant”). Each Warrant entitles the holder to purchase one additional common
share of the Company at a price of $0.24 per share for a period of two (2) years from the closing of the Financing.
The proceeds of the Financing will be used for drilling and other exploration related activities at the Company’s Senegal
Mali Shear Zone Project in West ern Mali (“SMSZ Project”) and for general corporate purposes. The Financing is subject
to final exchange approval.
On Behalf of the Board
“Jared Scharf”
___________________________
Jared Scharf
President & Director
About Desert Gold
Desert Gold Ventures Inc. is a gold exploration and development company which holds 3 gold exploration permits in
Western Mali (Farabantourou, Segala West and Djimbala) and its Rutare gold project in central Rwanda. As well, Desert
Gold is in the process of enhancing it presence on and near the Senegal Mali Shear Z one as part of its SMSZ project by
acquiring a large property package, contiguous to its Farabantourou Concession. For further information please visit
www.SEDAR.com under the company’s profile. Website: www.desertgold.ca
Contact
Jared Scharf, President and Director
Email: [email protected]
Tel. No.: +1 (858) 247-8195
This news release contains forward -looking statements . 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 numbe r of uncertainties and risks, and actual results
4770 72 Street, Delta, British Columbia | Canada | V4K 3N3 | Office +1 (604) 357 4726 | Fax +1 (604) 592 6882
may differ materially from those contained in such statements .. These uncertainties and risks include, but are not limited
to, the strength of the capital markets, the price of gold; operational, funding, li quidity risks, the degree to which mineral
resource estimates are reflective of actual mineral resources , the degree to which factors which would make a mineral
deposit commercially viable, and 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 u rged 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.