Desert Gold Provides Update for Early Warrant Exercise Incentive Program
Desert Gold Provides Update for Early Warrant
Exercise Incentive Program
Delta, British Columbia--(Newsfile Corp. - October 9, 2024) - Desert Gold Ventures Inc. (TSXV: DAU)
(FSE: QXR2) (OTCQB: DAUGF) (the "Company") is providing an update to its press release dated
September 6, 2024 announcing the warrant exercise incentive program.
The Program is intended to
encourage the exercise of up to 28,438,688 unlisted common share purchase warrants of the Company
(the "Eligible Warrants") which were issued as part of the Company's private placement which closed on
December 21, 2022.
Each Eligible Warrant is exercisable for one common share of the Company (each
a "Common Share") at a price of $0.08 per Common Share.
Pursuant to the Program, the Company is offering an inducement to each holder of Eligible Warrants
("Warrant Holders") that exercises Eligible Warrants during an early exercise period (the "Early Exercise
Period") consisting of one new Warrant (the "New Warrant") in addition to the common share subscribed
for.
Each New Warrant is exercisable at $0.08 for 3 years. The Expiry Date of the New Warrants will be
subject to an accelerated expiry upon 30 days' notice if the shares of the Corporation trade on the TSX
Venture Exchange at or above $0.20, for a period of ten (10) consecutive trading days.
To the extent that holders of Eligible Warrants take advantage of the opportunity to exercise their Eligible
Warrants early, this will fund working capital purposes.
Eligible Warrants that remain unexercised
following the completion of the Early Exercise Period (defined below) will continue to be exercisable for
Common Shares on the original terms as they existed prior to the Program.
The Early Exercise Period will commence on October 7, 2024 and terminate on November 6, 2024.
The Program is subject to approval from the TSX Venture Exchange (the "Exchange") and is subject to
the receipt of all final regulatory approvals, including final approval of the Exchange.
The number of
Eligible Warrants to be exercised by insiders of the Company is limited to no more than 10% of the total
Eligible Warrants.
On behalf of the board of directors,
Jared Scharf
President, CEO & Director
About Desert Gold Ventures
Desert Gold Ventures Inc. is a gold exploration and development company which controls the 440 km
2
SMSZ Project in Western Mali containing Measured and Indicated Mineral Resources of 8.47 million
tonnes grading 1.14 g/t gold totaling 310,300 ounces and Inferred Mineral Resources of 20.7 million
tonnes grading 1.16 g/t gold totaling 769,200 ounces. For further information please visit
www.sedarplus.ca
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/226214