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| Home : Desert Gold Ventures Inc. Amends Terms of $500,000 Private Placement |
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Nov 28
2014 |
Desert Gold Ventures Inc. Amends Terms of $500,000 Private Placement |
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TORONTO, ONTARIO--(Marketwired - Nov. 27, 2014) - Desert Gold Ventures Incorporated ("Desert Gold" or "the Company") (TSX VENTURE:DAU) today announced that it has amended the terms of the previously announced private placement. The Company now intends to complete a non-brokered private placement of units (the "Units") of the Company at a price of $0.05 per Unit to raise gross proceeds of Cdn $500,000 (the "Offering"). The Units will consist of one common share (a "Common Share") of the Company and one common share purchase warrant (a "Warrant"). Each Warrant will be exercisable into one Common Share (a "Warrant Share") for a period of five years from closing at $0.05 per Warrant Share, provided that, if, at any time following the date of issuance, the closing price of the Common Shares on the TSX Venture Exchange (the "TSXV") is greater than $0.50 for 30 consecutive trading days, the Company may give notice to the holders of the Warrants that the expiry time of the Warrants has been accelerated and the Warrants will expire on the 20th business day following the date of such notice. Holders of Warrants are restricted from exercising Warrants without the approval of the TSXV if, as a result of exercise, the holder would hold more than 20% of the issued Common Shares of the Company. |
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| Source:http://www.marketwired.com/mw/release.do?id=1972215&sourceType=3 |
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