TSX.V: DAU
Frankfurt: QXR2
OTC: DAUGF
DELTA, BC, Jan. 8, 2018 /CNW/
- Desert Gold Ventures Inc. ("Desert Gold" or "the Company")
(TSX.V: DAU, FF: QXR2, OTC: DAUGF) announces that it will conduct a
non-brokered private placement of up to 4,000,000 units at a price
of CDN $0.25 per unit (the "Unit") to
raise up to an aggregate CDN $1,000,000 (the "Financing").
Each Unit will consist of one common share in the equity of the
Company and one share purchase warrant (the "Warrant"). Each
Warrant entitles the holder to purchase one additional common share
of the Company at a price of CDN $0.30 per share for a period of two (2) years
from the closing of the Financing. Warrants will be subject
to a thirty (30) day acceleration clause upon announcement by the
Company that its shares have traded on a volume weighted average
basis of CDN $0.60 per common share,
or more, for at least ten (10) consecutive trading days.
The proceeds of the Financing will be used for drilling and
other exploration activities at the Company's projects in Western
Mali. There may be a finder's fee payable for the
Financing. Securities issued as a result of the Financing
will be subject to a statutory hold period. The Financing is
subject to Toronto Venture Stock Exchange approval.
ON BEHALF OF THE BOARD
"Jared
Scharf"
___________________________
Jared Scharf
President & Director
+1 (858) 247-8195
For further information please visit www.SEDAR.com under the
company's profile.
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.
SOURCE Desert Gold Ventures Inc.
