Desert Gold Ventures Inc. announced a non-brokered private placement of 33,242,184 units at a price of CAD 0.07 per unit for the gross proceeds of CAD 2,326,952 on January 30, 2023. Each unit consists of one common share in the equity of the company and one full share purchase warrant. Each warrant entitles the holder to purchase one additional common share of the company at a price of CAD 0.08 per share for a period of three years from closing.

The transaction included participation from 18 placees including 3 returning insider investors, Directors and officers of the company for 8,128,571 units. Securities issued as a result of closing are subject to a statutory hold which expires on April 24, 2023. In connection with the closing, the company paid finder's fees of CAD 28,770 and issued 161,000 non-transferable brokers warrants.

The transaction is subject to stock exchange approval.