DESERT MOUNTAIN ADOPTS ADVANCE NOTICE POLICY

Rhea-AI Summary

Desert Mountain Energy Corp. (DME; TSXV: DME, OTC: DMEHF) announced the adoption of an advance notice policy by its Board of Directors, effective immediately. This policy mandates that shareholders must provide advance notice for director nominations, setting deadlines and required information for submissions. Specifically, nominations must be submitted 30 to 65 days prior to any annual or special meeting. The policy will be up for approval at the next annual general meeting. A copy is available on SEDAR. DME focuses on developing rare earth gas fields in the U.S., targeting elements essential to green energy and high-tech industries.

Positive

• Adoption of an advance notice policy to streamline director nominations.
• Focus on rare earth gas fields aligns with trends in green energy.

Negative

• None.

TSX.V: DME
U.S. OTC: DMEHF
Frankfurt: QM01

VANCOUVER, BC, March 27, 2023 /PRNewswire/ - DESERT MOUNTAIN ENERGY CORP. (the "Company") (TSXV: DME) (OTC: DMEHF) (Frankfurt: QM01) From the President of the Company.

Desert Mountain Energy Corp.'s ("DME" or the "Company") has is pleased to announce the approval by its Board of Directors effective today of the adoption of an advance notice policy (the "Policy") that requires advance notice to the Company in circumstances where nominations of persons for election to the Board of Directors are made by shareholders of the Company other than pursuant to: (i) a requisition of a meeting made pursuant to the provisions of the B.C. Business Corporations Act (the "Act"), or (ii) a shareholder proposal made pursuant to the provisions of the Act.

Among other things, the Policy fixes a deadline by which holders of record of common shares of the Company must submit director nominations to the Company prior to any annual or special meeting of shareholders and sets forth the information that a shareholder must include in the notice to the Company for the notice to be in proper written form. In the case of an annual meeting of shareholders, notice to the Company must be made not less than 30 nor more than 65 days prior to the date of the annual meeting; provided, however, that if the annual meeting is to be held on a date that is less than 50 days after the date on which the first public announcement of the date of the annual meeting was made, notice may be made no later than the close of business on the 10^th day following such public announcement. In accordance with the terms of the Advance Notice Policy, the Advance Notice Policy will be put to shareholders of the Company for approval at next year's annual general meeting. If the Advance Notice Policy is not confirmed at that time by ordinary resolution of shareholders, then the Advance Notice Policy will terminate and be of no further force and effect following the termination of that meeting.

The Advance Notice Policy is in full force and effect as of the date it was approved. A copy of the Advance Notice Policy is also available on SEDAR under the Company's profile at www.sedar.com. 

About Desert Mountain Energy

Desert Mountain Energy Corp. is a publicly traded exploration and resource company focused on the discovery and development of rare earth gas fields in the US. The Company is primarily looking for elements deemed critical to the green energy and high technology industries. We seek safe harbor

"Robert Rohlfing"
Robert Rohlfing
Chairman & CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in polices of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The statements made in this press release may contain certain forward-looking statements that involve a number of risks and uncertainties. Actual events or results may differ from the Company's expectations.

Cautionary Note Regarding Forward-Looking Statements

This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation. Such forward–looking statements and information herein include but are not limited to statements regarding the Company's anticipated performance in the future, planned exploration activities, receipt of positive results from drilling, the completion of further drilling and exploration work, and the timing and results of various activities, including the ability of its facilities to operate at capacity and to produce Helium in commercial quantities.

Forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company and its operations to be materially different from those expressed or implied by such statements. Such factors include, among others, changes in national and local governments, legislation, taxation, controls, regulations and political or economic developments in Canada and the United States; financial risks due to helium prices, operating or technical difficulties in exploration and development activities; risks and hazards and the speculative nature of resource exploration and related development; risks in obtaining necessary licenses and permits, and challenges to the Company's title to properties.

Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to the continued operation of the Company's exploration operations, no material adverse change in the market price of commodities, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or information, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements or information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company does not intend to, and does not assume any obligation to update such forward-looking statements or information, other than as required by applicable law.

View original content:https://www.prnewswire.com/news-releases/desert-mountain-adopts-advance-notice-policy-301782473.html

SOURCE Desert Mountain Energy Corp.

FAQ

What is the new advance notice policy adopted by Desert Mountain Energy on March 27, 2023?

The policy requires shareholders to provide advance notice for director nominations, with specific deadlines and information needed for submissions.

How does the advance notice policy affect shareholder nominations for Desert Mountain Energy?

Shareholders must submit nominations 30 to 65 days prior to any meeting, ensuring structured and timely communication.

When will the advance notice policy be approved by shareholders of Desert Mountain Energy?

The policy will be put to a vote at the next annual general meeting for confirmation.

What is the focus of Desert Mountain Energy Corp in the market?

The company concentrates on the discovery and development of rare earth gas fields, contributing to green energy.

What stock symbols are associated with Desert Mountain Energy Corp?

The company trades under TSXV: DME, OTC: DMEHF, and Frankfurt: QM01.