High Desert Gold Announces Closing of Qualifying Transaction by Highvista Gold and Sale by High Desert of Partial Interest in Highvista

High Desert Gold Corporation (TSXV:HDG) announced that it has sold on aprivate placement basis, 640,000 common shares of  Highvista Gold Corp. and 320,000 purchase options for gross proceeds of $320,000.

As quoted in the press release:

Following the Qualifying Transaction (as defined below), each Purchase Option entitles the holder thereof to acquire from HDG one common share of Highvista Gold Inc. upon payment of $0.70 until October 6, 2013. Pursuant to the Private Placement, the Company also issued 44,800 compensation options each entitling the holder thereof to acquire from HDG one common share of Highvista Gold Inc. upon payment of $0.50 until October 6, 2012 (the “Compensation Options”).

Highvista Gold Corp. is the company to which HDG transferred its interest in the Canasta Dorada property. See HDG PR10-16 October 7, 2010 and HDG PR11-02 February 7, 2011. Today Highvista Gold Corp. completed its going public transaction with Triumph Ventures Corp. As result of the transaction Triumph is now known as Highvista Gold Inc. The transaction constituted Highvista Gold Inc.’s qualifying transaction (the “Qualifying Transaction”) under the policies of the TSX Venture Exchange, all as set out in the filing statement dated September 27, 2011, which is available on SEDAR at www.sedar.com under the profile of Highvista Gold Inc.

Click here to read High Desert Gold Corporation (TSXV:HDG) press release. 

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