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DESERT MOUNTAIN ENERGY CLOSES PUBLIC OFFERING OF UNITS FOR GROSS PROCEEDS OF $22 MILLION
DESERT MOUNTAIN ENERGY CLOSES PUBLIC OFFERING OF UNITS FOR GROSS PROCEEDS OF $22 MILLION ...
About this update from Desert Mountain Energy Corp.
[{"type":"text","content":"\n\n \n \n \n DESERT MOUNTAIN ENERGY CLOSES PUBLIC OFFERING OF UNITS FOR GROSS PROCEEDS OF $22 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.prntar{\nTEXT-ALIGN: RIGHT\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n TSX.V: DME\n \n Frankfurt: QM01\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 \n \n VANCOUVER, BC\n \n \n ,\n \n \n March 24, 2023\n \n \n /CNW/ -\n \n DESERT MOUNTAIN ENERGY CORP. (the \"Company\")\n \n (TSXV: DME) (OTC: DMEHF) (FSE: QM01)\n \n From the President of the Company.\n \n The Company is pleased to announce the closing of its previously announced \"best efforts\" public offering of 11,300,000 units of the Company (each, a \"Unit\") at a price of\n \n C$1.95\n \n per Unit (the \"Issue Price\") for gross proceeds of\n \n C$22,035,000\n \n , which includes the partial exercise of the Over-Allotment Option (as defined below) (the \"Offering\"). The Company entered into an agency agreement (the \"Agency Agreement\") with Beacon Securities Limited (the \"Agent\") to sell the Units on a commercially reasonable best efforts agency basis.\n \n \n Each 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 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 the expiry date of the Warrants by giving notice (the \"Warrant Acceleration Notice\") to the holders of the Warrants, and issuing a concurrent press release, and, ...