TSX.V: DME
U.S. OTC: DMEHF
Frankfurt: QM01
VANCOUVER, BC, June 21,
2022 /CNW/ - 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 $7.5 Million,
an increase of 50% over the original amount announced. Under the
terms of the private placement, the Company will now offer for sale
up to 2.5 million Units (the "Units") at CAD
$3.00 per Unit. The Company may
in its sole discretion increase the maximum of the offering by up
to 10% to a maximum of 2.75 million Units.
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 $4.00 per share. The
expiry of the Warrants may be accelerated at the election of the
Company by written notice if the closing price for the common
shares on the TSX Venture Exchange shall be equal to or greater
than CAD $8.00 per
share for a minimum of ten consecutive trading days.
Finder's fees are payable of up to 7% in cash and
5% in finder warrants, with the finder warrants having
an exercise price of CAD $4.00 per
share, but with no forced conversion provisions.
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."
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.
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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.