Desert Gold Ventures Inc. announced a non-brokered private placement of up to 10,000,000 units at a price of CAD 0.07 for the gross proceeds of CAD 700,000 on February 1, 2024. Each unit will consist of one common share in the equity of the company and a 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 common share for a period of three years from the closing of the financing.

The company may pay a finder's fee to qualified individuals in respect to the financing. Securities issued from the financing will be subject to a statutory hold period. Due to additional interest in the financing, the company may upsize and extend the close of its offering in the coming days.