Business
DESERT MOUNTAIN ENERGY ANNOUNCES CLOSING OF OVER-ALLOTMENT OPTION FOR ADDITIONAL GROSS PROCEEDS OF $1 MILLION
DESERT MOUNTAIN ENERGY ANNOUNCES CLOSING OF OVER-ALLOTMENT OPTION FOR ADDITIONAL GROSS PROCEEDS O...
About this update from Desert Mountain Energy Corp.
[{"type":"text","content":"\n \n \n \n DESERT MOUNTAIN ENERGY ANNOUNCES CLOSING OF OVER-ALLOTMENT OPTION FOR ADDITIONAL GROSS PROCEEDS OF $1 MILLION\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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n TSX.V: DME\n \n Frankfurt: QM01\n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n March 31, 2023\n \n /CNW/ -\n \n DESERT MOUNTAIN ENERGY CORP. (the \"Company\")\n \n (TSXV: DME) (U.S. OTC: DMEHF) (Frankfurt: QM01)\n \n From the President of the Company.\n \n The Company is pleased to announce that further to its news release on\n \n March 24, 2023\n \n announcing the closing of its \"best efforts\" public offering of units (the \"Units\") (the \"Offering\"), Beacon Securities Limited (the \"Agent\") has fully exercised the remainder of its over-allotment option (the \"Over-Allotment Option\") to sell an additional 545,000 Units (the \"Over-Allotment Units\") of the Company at a price per Over-Allotment Unit of\n \n C$1.95\n \n (the \"Issue Price\") for gross proceeds of\n \n $1,062,750\n \n and aggregate gross proceeds of\n \n $23,097,750\n \n for the total Offering.\n \n \n Each Over-Allotment Unit is comprised of one common share of the Company (each, a \"Common Share\") and one Common Share purchase warrant (each, a \"Warrant\"). Each Warrant entitles the holder to acquire one Common Share at an exercise price of\n \n C$2.70\n \n per Common Share. The Warrant is exercisable for a period of twenty four (24) months from the\n \n March 24, 2023\n \n closing of the Offering (the \"Closing Date\"). If, at any time after the Closing Date and prior to the expiry date of the Warrants, the volume weighted average trading price of the Company's common shares on the TSX Venture Exchange is greater than\n \n C$4.50\n \n for a period of 10 consecutive trading days, the Company may, within 10 business days of the occurrence of such event, accelerate...