TORONTO, Oct. 18 /CNW/ - Libra Advisors, LLC ("Libra"), announced today
that it has acquired 4,000,000 Units of High Dessert Gold Corporation ("HDG")
at a price of $0.50 per Unit in connection with HDG's initial public offering.
Each Unit consists of one common share and one half of one common share
purchase warrant. Each whole common share purchase warrant entitles the holder
to acquire one common share, exercisable at a price of $0.65 per warrant,
until the second anniversary of the closing of the offering. As a result of
the acquisition, Libra now holds 4,000,000 common shares, representing
approximately 11.1% of the outstanding common shares of HDG, and 2,000,000
warrants of HDG that, if exercised, would result in Libra holding
approximately 15.8% of the total outstanding common shares of HDG.
Libra acquired these Units for investment purposes and may, from time to
time, acquire additional securities of HDG or dispose of such securities as it
may deem appropriate.
Libra is the investment advisor to Libra Fund LP and Libra Offshore,
Ltd., with principal offices at 909 Third Avenue, 29th Floor, New York, NY
For further information:
For further information: Mr. Ranjan Tandon, Managing Member, at (212)