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DESERT MOUNTAIN ENERGY ANNOUNCES CLOSING OF CDN$ 6 MILLION PRIVATE PLACEMENT
DESERT MOUNTAIN ENERGY ANNOUNCES CLOSING OF CDN$ 6 MILLION PRIVATE PLACEMENT Ca...
About this update from Desert Mountain Energy Corp.
[{"type":"text","content":"\n \n \n \n DESERT MOUNTAIN ENERGY ANNOUNCES CLOSING OF CDN$ 6 MILLION PRIVATE PLACEMENT\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntar{\nTEXT-ALIGN: RIGHT\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n TSX.V: DME\n \n U.S. OTC: DMEHF\n \n \n Frankfurt\n \n : QM01\n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Sept. 13, 2022\n \n \n /CNW/ - DESERT MOUNTAIN ENERGY CORP. (the \"Company\") (TSX.V: DME) (OTC: DMEHF) (Frankfurt: QM01) is pleased to announce that it has closed its non-brokered private placement previously announced on\n \n September 1, 2022\n \n (the \"Offering\"), raising gross proceeds of CAD\n \n $6,090,400\n \n . The Company issued 2,342,461 units (the \"Units\") at a price of CAD\n \n $2.60\n \n per Unit. Each Unit is made up of one common share of the Company and one share purchase warrant, with each whole warrant allowing the subscriber to purchase one additional common share for a period of three years at a price of CAD\n \n $3.50\n \n per share. The expiry of the warrants may be accelerated by the Company if the closing price for the common shares shall be equal to or greater than CAD\n \n $7.00\n \n for a minimum of ten (10) consecutive trading days. In connection with the Offering, the Company paid aggregate finders fees of\n \n $128,128\n \n in cash, 119,477 Finder units and 45,280 Finder warrants.\n \n \n The Company plans to use the proceeds for exploration, and development of the Company's helium processing facilities, working capital and general corporate expenses.\n \n \n All securities issued in connection with the Offering will be subject to a 4-month plus one day hold expiring\n \n January 14, 2022\n \n . Any securities referred to herein will not nor has been offered nor registered under the U.S. Securities act of 1933 (The \"1933 ACT\") and may not be offered or sold in\n \n the United States\n \n or to a person in the absence of such registration or an exemption from the registration requirements of the 1933 ACT.\n \n \n \n ABOUT DESERT MOUNTAIN ENERGY\n \n \n \n Desert Mountain Energy Corp. is a publicly traded resource comp...