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DESERT MOUNTAIN ENERGY ANNOUNCES TERMS OF C$20 MILLION MARKETED PUBLIC OFFERING OF UNITS
DESERT MOUNTAIN ENERGY ANNOUNCES TERMS OF C$20 MILLION MARKETED PUBLIC OFFERING OF UNITS ...
About this update from Desert Mountain Energy Corp.
[{"type":"text","content":"\n \n \n \n DESERT MOUNTAIN ENERGY ANNOUNCES TERMS OF C$20 MILLION MARKETED PUBLIC OFFERING OF UNITS\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 \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 U.S. OTC: DMEHF\n \n \n Frankfurt\n \n : QM01\n \n \n \n VANCOUVER, BC\n \n ,\n \n March 3, 2023\n \n /CNW/ -\n \n DESERT MOUNTAIN ENERGY CORP. (the \"Company\")\n \n (TSXV: DME) (OTC: DMEHF) (Frankfurt: QM01)\n \n From the President of the Company.\n \n The Company is pleased to announce the terms of its previously announced marketed public offering (the \"Offering\") of units (the \"Units\") in the capital of the Company. The Company intends to issue up to 10,300,000 Units at a price of\n \n C$1.95\n \n per Unit (the \"Issue Price\"), for aggregate gross proceeds of up to\n \n C$20,085,000\n \n . Beacon Securities Limited (the \"Agent\"), is acting as sole Agent in connection with the Offering. Each Unit will consist of one common share in the capital of the Company (a \"Unit Share\") and one common share purchase warrant (a \"Warrant\") of the Company. Each Warrant will entitle the holder thereof to acquire one common share (a \"Warrant Share\") at a price per Warrant Share of\n \n C$2.70\n \n for a period of 24 months following the Closing Date (as defined below).\n \n \n The Company has granted the Agent an option (the \"Over-Allotment Option\") exercisable, at the sole discretion of the Agent by giving notice to the Company at any time and from time to time up to 30 days following the Closing Date (as defined below), to sell up to an additional number of Units (the \"Additional Units\") equal to 15% of the Units sold pursuant to the Offering at a price per Additional Unit equal to the Issue Price to cover over-allotments, if any, and for market stabilization purposes. For certainty, the Over-Allotment Option will be exercisable for Additional Units, Unit Shares and/or Warrants (or any combination thereof).\n \n \n Freedom Capital Markets is acting as a...