Desert Gold Closes Non-brokered Private Placement
Surrey, British Columbia–Desert Gold Ventures Inc. (TSXV: DAU) proudly announces the successful closure of its non-brokered private placement, raising CAD $1,119,520 through the issuance of 15,993,142 units at CAD $0.07 per unit. The company is awaiting final acceptance for filing by the TSX Venture Exchange. The financing includes a statutory hold period on the units, expiring on July 13, 2024, and July 21, 2024, for different portions.
Each unit comprises one common share and one share purchase warrant, allowing the holder to purchase an additional common share at CAD $0.08 per share for three years. The proceeds from this financing round will primarily support a Preliminary Economic Assessment (PEA) focusing on heap leach gold extraction at the Barani East and Gourbassi West deposits.
A director of Desert Gold Ventures Inc. participated in the private placement, acquiring 1,428,571 units for a total of $100,000. The director’s involvement constitutes a related party transaction under Multilateral Instrument 61-101. However, it is exempt from formal valuation and shareholder approval requirements.
Desert Gold Ventures Inc. is a gold exploration and development company with projects in Western Mali and Rwanda. For more information, visit www.sedarplus.ca. The company encourages further discussion by acknowledging the risks and uncertainties associated with forward-looking statements. The TSX Venture Exchange and its regulation services provider are not responsible for the accuracy of this release.
To read the source version of this release, visit https://www.newsfilecorp.com/release/203195.
