Desert Gold Receives CAD $1,258,286 in Proceeds from Warrant Incentive Program
Desert Gold Ventures has successfully concluded its warrant exercise incentive program, raising CAD $1,258,286 through the exercise of 15,728,571 Eligible Warrants at $0.08 per Common Share. The program participants received an equal number of Incentive Warrants, exercisable at $0.08 for three years. The funds will support the development of the company's SMSZ Gold Project in West Mali and general working capital. Insiders participated in 5.02% of the total Eligible Warrants exercised. The new Incentive Warrants include an acceleration clause if shares trade at or above $0.20 for ten consecutive days.
Desert Gold Ventures ha concluso con successo il suo programma di incentivazione per l'esercizio dei warrant, raccogliendo CAD $1,258,286 attraverso l'esercizio di 15,728,571 Warrant Idonei a $0.08 per Azione Comune. I partecipanti al programma hanno ricevuto un numero uguale di Warrant Incentivi, esercitabili a $0.08 per tre anni. I fondi sosterranno lo sviluppo del Progetto d'Oro SMSZ in Mali Occidentale e il capitale di lavoro generale. I membri interni hanno partecipato al 5,02% del totale dei Warrant Idonei esercitati. I nuovi Warrant Incentivi includono una clausola di accelerazione se le azioni vengono scambiate a $0.20 o più per dieci giorni consecutivi.
Desert Gold Ventures ha concluido con éxito su programa de incentivos para el ejercicio de opciones, recaudando CAD $1,258,286 a través del ejercicio de 15,728,571 Opciones Elegibles a $0.08 por Acción Común. Los participantes del programa recibieron un número igual de Opciones de Incentivo, ejercitables a $0.08 durante tres años. Los fondos apoyarán el desarrollo del Proyecto de Oro SMSZ en Mali Occidental y el capital de trabajo general. Los insiders participaron en el 5.02% del total de Opciones Elegibles ejercidas. Las nuevas Opciones de Incentivo incluyen una cláusula de aceleración si las acciones se negocian a $0.20 o más durante diez días consecutivos.
Desert Gold Ventures가 성공적으로 보증 행사 인센티브 프로그램을 마쳤으며, CAD $1,258,286을 모집하였습니다. 이는 15,728,571개의 적격 워런트를 $0.08당 보통주로 행사한 결과입니다. 프로그램 참가자들은 3년 동안 $0.08에 행사가 가능한 동일한 수의 인센티브 워런트를 받았습니다. 이 자금은 회사의 서말리 SMSZ 금 프로젝트 개발 및 일반 운영 자본을 지원할 것입니다. 내부자는 총 적격 워런트 행사 중 5.02%에 참여했습니다. 새로운 인센티브 워런트에는 주식이 연속 10일 동안 $0.20 이상 거래될 경우 가속 조항이 포함되어 있습니다.
Desert Gold Ventures a conclu avec succès son programme d'incitation à l'exercice des bons de souscription, levant CAD $1,258,286 grâce à l'exercice de 15,728,571 Bons Éligibles à $0.08 par Action Ordinaire. Les participants au programme ont reçu un nombre égal de Bons d’Incitation, exerçables à $0.08 pendant trois ans. Les fonds soutiendront le développement du Projet d'Or SMSZ au Mali Occidental et le fonds de roulement général. Les initiés ont participé à 5,02 % du total des Bons Éligibles exercés. Les nouveaux Bons d’Incitation comprennent une clause d'accélération si les actions se négocient à $0.20 ou plus pendant dix jours consécutifs.
Desert Gold Ventures hat erfolgreich sein Programm zur Anreizübung von Warrants abgeschlossen und dabei CAD $1,258,286 durch die Ausübung von 15,728,571 berechtigten Warrants zu je $0.08 pro Stammaktie gesammelt. Die Programmteilnehmer erhielten eine gleichwertige Anzahl von Anreizwarrants, die drei Jahre lang zu $0.08 ausgeübt werden können. Die Mittel werden die Entwicklung des SMSZ Goldprojekts im westlichen Mali und das allgemeine Betriebskapital unterstützen. Insider waren an 5,02 % der insgesamt ausgeübten berechtigten Warrants beteiligt. Die neuen Anreizwarrants enthalten eine Beschleunigungsklausel, wenn die Aktien zehn aufeinanderfolgende Tage zu oder über $0.20 gehandelt werden.
- Raised CAD $1,258,286 in new capital
- Successfully completed warrant exercise program with 15,728,571 warrants exercised
- Secured additional funding for SMSZ Gold Project development
- Potential dilution from the issuance of additional 15,728,571 Incentive Warrants
- insider participation at only 5.02% of total warrants exercised
Surrey, British Columbia--(Newsfile Corp. - November 19, 2024) - Desert Gold Ventures Inc. (TSXV: DAU) (FSE: QXR2) (OTCQB: DAUGF) (the "Company") is pleased to announce the closing of its previously announced (September 6, 2024 and October 9, 2024) warrant exercise incentive program (the "Program"). The Program was 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
Pursuant to the Program, the holders 15,728,571 Eligible Warrants for proceeds of CAD
The Incentive Warrants and any Common Shares issuable on the exercise thereof are subject to a four-month hold period from the date of issuance of the Incentive Warrants pursuant to applicable Canadian securities laws.
The Company has relied on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(a) of MI 61-101 in respect of such insider participation.
The Program is subject to final approval from the TSX Venture Exchange (the "Exchange"). The number of Eligible Warrants exercised in the Program by insiders of the Company was
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 controls the 440 km2 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.SEDAR.com under the company's profile. Website: www.desertgold.ca
Contact
Jared Scharf, President and CEO
Email: jared.scharf@desertgold.ca
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 number of uncertainties and risks, and actual results 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, liquidity 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 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/230458
FAQ
How much did Desert Gold Ventures (DAUGF) raise through its warrant incentive program?
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