TSX.V: DME
U.S. OTC: DMEHF
Frankfurt: QM01
VANCOUVER, BC, Feb. 4, 2025
/CNW/ - DESERT MOUNTAIN ENERGY CORP. (the "Company") (TSXV:
DME), (U.S. OTC: DMEHF), (Frankfurt: QM01) From the President of
the Company. DME is pleased to announce that it is
proceeding with a non-brokered private placement offering to raise
up to CAD $2 Million. Under
the terms of the private placement, the Company will offer for sale
up to 8 million units (the "Units") at CAD
$0.25 per Unit.
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 one year from the date of the closing at a price
of CAD $0.35 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 $0.75 per share for a
minimum of ten consecutive trading days. Finder's fees are
payable of up to 8% in cash and 8% in finder warrants, with the
finder warrants having an exercise price of CAD $0.35 per share, but with no forced
conversion. Proceeds from the private placement will be utilized
for development of the Company's New
Mexico natural gas and Helium projects and its Arizona
Helium projects, as well as working capital and general corporate
purposes.
The Units will be subject to a 4-month hold period. The
private placement is subject to the approval of the TSX Venture
Exchange.
ABOUT DESERT MOUNTAIN ENERGY
Desert Mountain Energy Corp. is a publicly traded resource
company primarily focused on the exploration, development and
production of helium, hydrogen, natural gas and condensate. The
Company is focused on helium extraction from different raw gas
sources in an environmental and economic manner supplying
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-private-placement-offering-302367987.html
SOURCE Desert Mountain Energy Corp.
