Desert Gold Ventures Inc. announced a non-brokered private placement of units at an issue price of CAD 0.07 per unit on December 21, 2022.

On the same date, the company issued 34,242,184 units at an issue price of CAD 0.07 per unit for the gross proceeds of CAD 2,396,953 in its first tranche. All securities issued as a result of closing the first tranche will be subject to a statutory hold period from the date of closing. In connection with closing the first tranche, the company will pay finder's fees of CAD 28,770 and will issue 161,000 non-transferable brokers warrants. Pursuant to the terms of the transaction, each unit consists of one common share 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. Directors and officers of the company have acquired 8,128,571 units in the transaction. The transaction is subject to stock exchange approval.