DESERT MOUNTAIN SETS STOCK OPTIONS

Rhea-AI Summary

Desert Mountain Energy has granted 815,000 incentive stock options at an exercise price of $2.35 per share to its directors, officers, employees, and consultants. These options are subject to a vesting plan and are exercisable for five years. The company also corrected its previous report regarding a private placement on September 13, 2022; it raised gross proceeds of CAD $5.588 million and issued 2,149,461 Units. Desert Mountain focuses on helium, hydrogen, and noble gases essential for renewable energy and high-tech industries.

Positive

• Granted 815,000 stock options at an attractive exercise price of $2.35, enhancing employee and director incentives.
• Successful correction of capital raised in private placement, increasing transparency for investors.

Negative

• None.

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

VANCOUVER, BC, Oct. 21, 2022 /PRNewswire/ - DESERT MOUNTAIN ENERGY CORP.  (the "Company") (TSXV: DME) (OTC: DMEHF) (Frankfurt: QM01) From the President of the Company.

Desert Mountain Energy Corp. ("DME" or the "Company") has granted a total of 815,000 incentive stock options at an exercise price of $2.35 per share to its directors, officers, employees, and consultants. The options will be issued to newly appointed directors, officers, and the accounting and legal teams. The options will be subject to the Company's vesting plan. The options will be exercisable for a period of 5 years. 

The Company also advises that further to its previous news release of September 13, 2022, the Company raised gross proceeds of CAD $5.588 million and issued 2,149,461 Units (previously reported incorrectly as $6.1 million and 2,342,462 Units). All other terms remain unchanged.

ABOUT DESERT MOUNTAIN ENERGY

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.

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 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-sets-stock-options-301656373.html

SOURCE Desert Mountain Energy Corp.

FAQ

What stock options has Desert Mountain Energy granted?

Desert Mountain Energy has granted 815,000 incentive stock options at an exercise price of $2.35 per share.

How much did Desert Mountain raise in its private placement on September 13, 2022?

Desert Mountain raised gross proceeds of CAD $5.588 million in its private placement.

What is the main focus of Desert Mountain Energy?

Desert Mountain Energy primarily focuses on the exploration and production of helium, hydrogen, and noble gases.

What is the exercise period for the stock options granted by Desert Mountain Energy?

The stock options granted by Desert Mountain Energy are exercisable for a period of five years.