DESERT MOUNTAIN ENERGY ANNOUNCES 50% INCREASE IN PRIVATE PLACEMENT TO CAD $7.5 MILLION
Desert Mountain Energy Corp. (TSXV: DME, U.S. OTC: DMEHF) has announced a 50% increase in its non-brokered private placement, raising the total offering to CAD $7.5 million. The Company plans to issue up to 2.5 million Units at CAD $3.00 per Unit, potentially increasing to 2.75 million Units. Each Unit comprises a common share and a share purchase warrant, priced at CAD $4.00/share, valid for three years. The placement remains subject to TSX Venture Exchange approval.
- Increased private placement from CAD $5 million to CAD $7.5 million due to high demand.
- Opportunity to raise additional funds with a potential increase to 2.75 million Units.
- None.
TSX.V: DME
U.S. OTC: DMEHF
Frankfurt: QM01
VANCOUVER, BC, June 21, 2022 /PRNewswire/ - DESERT MOUNTAIN ENERGY CORP. (the "Company") (TSXV: DME) (U.S. OTC: DMEHF) (Frankfurt: QM01) is pleased to announce that due to greatly increased demand, it is increasing the size of its non-brokered private placement offering recently announced on June 8, 2022. The Company now plans to raise up to CAD
All other terms and conditions of the private placement will remain the same. Each Unit will consist of one common share of the Company and one share purchase warrant (the "Warrants"), with each whole Warrant allowing the subscriber to purchase one additional share of the Company for a period of three (3) years from the date of the closing at a price of CAD
Please refer to the Company's news release of June 8, 2022, for further details. The Units will be subject to a 4-month hold period. The private placement is subject to the approval of the TSX Venture Exchange.
"We are pleased that existing and new investors are showing this level of confidence in our Company," says Robert Rohlfing, CEO of Desert Mountain Energy Corp. "A healthy treasury has allowed us to explore and develop in a cost-efficient manner as the Company moves into helium production this year."
Desert Mountain Energy Corp. is a publicly traded resource company primarily focused on exploration, development and production of helium, hydrogen and noble gases. The Company is primarily looking for elements deemed critical to the renewable energy and high technology industries.
We seek safe harbor
"Robert Rohlfing"
Robert Rohlfing
Exec 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.
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 the 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.
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 nor 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-energy-announces-50-increase-in-private-placement-to-cad-7-5-million-301571587.html
SOURCE Desert Mountain Energy Corp.
FAQ
What is Desert Mountain Energy Corp.'s new fundraising target?
How many units will Desert Mountain Energy issue in its private placement?
What is the price per unit for the private placement of DMEHF?
What is the exercise price for the warrants in the private placement?
When will the private placement be subject to TSX Venture Exchange approval?
