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Client Work

High Desert Gold closes US$15 million IPO and begins trading on TSX

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MGI Securities and Canaccord Capital

On October 17, 2007, High Desert Gold Corporation announced that it had successfully completed its initial public offering of units for gross proceeds of $15,000,000. Each unit consists of one common share of the company and one half of one common share purchase warrant. The units were also offered in the United States on a private placement basis. The common shares and warrants began trading on the Toronto Stock Exchange. MGI Securities Inc. acted as lead agent of the offering along with Canaccord Capital Corporation. The agents were granted an over-allotment option, which they exercised within thirty days of closing, for additional gross proceeds of $2,250,000. High Desert Gold is a mineral exploration company that acquires and, explores and develops mineral properties, primarily gold, and copper and silver, in North America. The agents were advised in this offering by a team from Fasken Martineau that included John Sabetti, Daye Kaba and Paula Amy Hewitt (securities/mining) with the assistance of students-at-law Amanda Fullerton and Mara Beckford.



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