High Desert Gold Corporation Announces Results of Its Substantial Issuer Bid
High Desert Gold Corporation announced the results of its substantial issuer bid to purchase for cancellation a maximum of 36,000,000 common shares of the Company at a price of Cdn.$0.27 per HDG Share. The Offer expired at 9:00 p.m. (Toronto time) on January 7, 2009. There were 33,862,870 HDG Shares validly deposited under the Offer prior to the expiry time. The Company has taken up all of these validly deposited HDG Shares and payment, therefore, will be made as soon as practicable in accordance with the Offer.
The HDG Shares to be purchased for cancellation comprise approximately 82.5% of the outstanding HDG Shares before giving effect to the purchase. After giving effect to the purchase, there will remain outstanding 7,192,464 HDG Shares.
Full details of the Offer are contained in the issuer bid circular, letter of transmittal and notice of guaranteed delivery which were mailed to HDG shareholders and are also available on SEDAR at www.sedar.com under the Company’s profile. Additional information concerning HDG may be obtained on HDG’s website, www.highdesertgoldcorp.com, and on SEDAR at www.sedar.com, under HDG’s profile.