Delta, British Columbia--(Newsfile Corp. - September 6, 2024) - Desert Gold Ventures Inc. (TSXV: DAU) (FSE: QXR2) (OTCQB: DAUGF) (the 'Company') is pleased to announce the implementation of a warrant
Delta, British Columbia-- - Desert Gold Ventures Inc. is pleased to announce the implementation of a warrant exercise incentive program intended to encourage the exercise of up to 48,235,326 unlisted common share purchase warrants of the Company which were issued as part of the Company's private placements which closed on December 21, 2022, January 23, 2023 and February 2, 2023 and the private placement which closed on March 26, 2024 and May 22, 2024 .
To the extent that Warrant Holders of Eligible Warrants take advantage of the opportunity to exercise their Eligible Warrants early, this will fund exploration and development work at the Company's flagship SMSZ Project in western Mali. Eligible Warrants that remain unexercised following the completion of the Early Exercise Period will continue to be exercisable for Common Shares on the original terms as they existed prior to the Program.
The Program is subject to approval from the TSX Venture Exchange and is subject to the receipt of all final regulatory approvals, including final approval of the Exchange. The number of Eligible Warrants to be exercised by insiders of the Company is limited to no more than 10% of the total Eligible Warrants and the Company will issue no more than 4,823,532 Incentive Warrants to insiders under the Program. Insiders presently hold 16.85% of the Eligible Warrants.
a duly completed and executed Subscription Form as attached to the Eligible Warrant Certificate, specifying the number of Eligible Warrants that the Warrant Holder intends to exercise; and All Eligible Warrant Certificates surrendered together with a duly completed and executed Subscription Form, and payment of the applicable exercise price for the number of Eligible Warrants exercised will be deemed to be surrendered only upon personal delivery thereof to, or, if sent by mail or other means of transmission, upon actual receipt thereof by the Company. Any use of the mail to transmit Eligible Warrant Certificates is at the risk of the Warrant Holder.
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