Desert Gold Closes Fully Subscribed LIFE Offering for Gross Proceeds of C$7,181,800

Core Viewpoint - Desert Gold Ventures Inc. has successfully closed a non-brokered private placement, raising C$7,181,800 through the issuance of 89,772,500 units at a price of C$0.08 per unit [1][2]. Group 1: Offering Details - Each unit consists of one common share and one-half of a common share purchase warrant, with each whole warrant allowing the purchase of an additional common share at C$0.12 within 24 months of issuance [2]. - The offering was conditionally approved by the TSX Venture Exchange, and the securities issued will not be subject to a four-month and one-day statutory hold period [4]. Group 2: Use of Proceeds - The net proceeds from the offering will be utilized for the first phase of the gravity plant at the Barani East gold oxide project in West Mali, resource expansion, exploration drilling at the SMSZ Project in Western Mali, the Tiegba Gold Project in Côte d'Ivoire, and general working capital [3]. Group 3: Finder's Fees - The company paid a total of C$265,986 in finder's fees and issued 3,324,825 non-transferable finder's warrants, which allow the purchase of one common share at C$0.08 within 24 months [4]. Group 4: Company Overview - Desert Gold Ventures is a gold exploration and development company with properties in Mali and Côte d'Ivoire, including the 440 km² SMSZ Project in Western Mali and the newly optioned 297 km² Tiegba Gold Project in Côte d'Ivoire [6].