TSX.V: DAU
Frankfurt: QXR2
OTC: DAUGF
DELTA, BC, May 23, 2018 /CNW/ - Desert Gold Ventures
Inc. (the "Company") (TSX.V: DAU, FF: QXR2, OTC: DAUGF)
announces, further to its news release of April 26, 2018 that the Company has closed its
non-brokered private placement (the "Offering"). The Company
raised an aggregate of $647,500 from
the sale of 4,676,668 units at a price of $0.15 per unit (the "Unit").
Pursuant to the terms of the Financing, each Unit consists of
one common share in the equity of the Company and one share
purchase warrant (a "Warrant"). Each Warrant entitles
the holder to purchase one additional common share of the Company
at a price of $0.20 per share for a
period of five (5) years from the closing of the Offering.
All securities issued as a result of this Offering are subject
to a statutory hold period. There are no finder's fees
payable in connection with this Offering. This Offering is
subject to exchange approval.
The proceeds of the Offering will be used for exploration
activities at the Company's projects in Western Mali and general working capital.
The Company also announces that it has amended the exercise
price of its stock options announced on May
2, 2018 from $0.19 to
$0.25.
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 Financing.
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.