Business
DESERT MOUNTAIN ENERGY FILES FINAL SHORT FORM PROSPECTUS
DESERT MOUNTAIN ENERGY FILES FINAL SHORT FORM PROSPECTUS Canada NewsWire /NOT...
About this update from Desert Mountain Energy Corp.
[{"type":"text","content":"\n \n \n \n DESERT MOUNTAIN ENERGY FILES FINAL SHORT FORM PROSPECTUS\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 \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 \n Frankfurt\n \n : QM01\n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n March 21, 2023\n \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 Further to the Company's news releases of\n \n March 2\n \n \n nd\n \n and 3\n \n rd\n \n , 2023, the Company is pleased to announce it has filed and obtained a receipt for the final short form prospectus in connection with its previously announced \"best efforts\" public offering of a minimum of 5,128,500 units of the Company (each, a \"Unit\") and a maximum of 10,300,000 Units  at a price of\n \n C$1.95\n \n per Unit (the \"Issue Price\") for minimum gross proceeds of\n \n C$10,000,575\n \n and maximum gross proceeds of\n \n C$20,085,000\n \n (the \"Offering\"). The Company has 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 will be comprised of one common share of the Company (each, a \"Common Share\") and one Common Share purchase warrant (each, a \"Warrant\"). Each Warrant will entitle the holder to acquire one Common Share at an exercise price of\n \n C$2.70\n \n per Common Share. The Warrant will be exercisable for a period of twenty four (24) months from the Closing Date (as defined below). 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...