Mr. Ralph Fitch

October 22, 2009 17:31 ET

Ralph Fitch Acquires Securities of High Desert Gold Corporation

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 22, 2009) - Ralph G. Fitch announces that he has acquired ownership and control over 466,667 common shares of High Desert Gold Corporation (the "Corporation") upon the vesting of certain restricted share awards ("RSAs") previously issued in connection with the Corporation's initial public offering on October 17, 2007. The 466,667 common shares issued upon the vesting of the RSAs represent approximately 5.47% of the Corporation's issued and outstanding shares.

Mr. Fitch now owns or controls a total of 1,138,334 common shares of the Corporation representing approximately 13.35% of the issued and outstanding shares of the Corporation. 

In addition, Mr. Fitch holds a further 466,666 RSAs which will vest on October 17, 2010 (unless vested earlier in accordance with the terms thereof) and holds options to acquire up to 530,000 common shares of the Corporation issued pursuant to the Corporation's stock option plan. Assuming the vesting in full of the remaining RSAs and the exercise in full of all stock options held, Mr Fitch would own a total of 2,135,000 common shares of the Corporation representing 22.43% of the then issued and outstanding shares.

The common shares of the Corporation were acquired for investment purposes. Mr. Fitch may increase or decrease his shareholdings in the Corporation in the future as considered appropriate in light of investment criteria, market conditions and other factors and in accordance with applicable securities legislation. An early warning report with additional information in respect of the acquisition will be filed on SEDAR at www.sedar.com under the Corporation's profile or can be obtained from Richard Doran, Executive Vice-President of the Corporation at 303-512-0919.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Richard Doran
    303-512-0919