HDG High Desert Gold Corporation

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS
WIRE SERVICES.


High Desert Gold Corporation (TSX VENTURE:HDG)(OTCQX:HDGCF) ("HDG" or the
"Company") is pleased to report that it has closed its previously announced
private placement of 20,928,394 units of the Company (each a "Unit") at a price
of $0.225 per share for total gross proceeds of $4,708,888 million (the "Private
Placement").


Each Unit consists of one common share of the Company (a "Common Share") and
one-half of a common share purchase warrant (each whole warrant, a "Warrant").
Each Warrant shall entitle the holder thereof to purchase one Common Share at an
exercise price of $0.35 per Common Share for a period of 18 months from the
closing of the Private Placement. 


In connection with the Private Placement, the Company paid cash fees to Haywood
Securities Inc. (the "Agent") in the amount of $271,790 and issued
non-transferable agent warrants (the "Agent's Warrants") to the Agent entitling
the holders thereof to subscribe for an aggregate of 1,207,955 Common Shares, at
a price of $0.35 per Common Share, exercisable until August 22, 2013.
Additionally, the Company issued 100,000 further Common Shares and 50,000
further Agent's Warrants to the Agent as a result of the Private Placement
grossing greater than $2 million.


The Company plans to use the net proceeds from the Private Placement to fund
exploration of the Company's properties, for administrative expenses and
unallocated working capital. The securities comprising the Units and the Agent
Warrants are subject to a statutory hold period that will expire on June 23,
2012.


ABOUT HIGH DESERT GOLD CORPORATION

The Company is a mineral exploration company that acquires and explores mineral
properties, primarily gold, copper and silver, in North America. The major
properties held by HDG are a 60% interest in the Gold Springs gold project
situated along the border between Utah and Nevada and the San Antonio project in
Sonora, Mexico. The Company also has a 34.8% interest in the Canasta Dorada
property in Sonora, Mexico, through its equity interest in Highvista Gold Inc.


Certain statements in this press release constitute "forward-looking
statements". These forward-looking statements include, but are not limited to,
statements regarding the possibility of closing the Private Placement.
Forward-looking statements express, as at the date of this press release, the
Company's plans, estimates, forecasts, projections, expectations, or beliefs as
to future events or results. Forward-looking statements are based on certain
assumptions, including the key assumptions and parameters on which such
estimates are based, involve risks and uncertainties and there can be no
assurance that such statements will prove to be accurate. Therefore, actual
results and future events could differ materially from those anticipated in such
statements. Factors that could cause results or events to differ materially from
current expectations expressed or implied by the forward-looking statements,
include, but are not limited to, the effect of capital market conditions and
other factors on capital availability and the ability to complete any closing up
to the maximum offering, or at all. Readers are cautioned not to place undue
reliance on the forward-looking statements contained in this press release.
Except as required by law, HDG assumes no obligation to update or revise any
forward-looking statement, whether as a result of new information, future events
or any other reason.

High Desert Gold Corporation (TSXV:HDG)
Historical Stock Chart
From Jun 2024 to Jul 2024

High Desert Gold Corporation (TSXV:HDG)
Historical Stock Chart
From Jul 2023 to Jul 2024