News & Articles >Desert Mountain Energy Announces Private Placement
News & Articles

June 7, 2018

Desert Mountain Energy Announces Private Placement

Vancouver, British Columbia — DESRT MOUNTAIN ENERGY CORP.(the “Company”) is pleased to announce a non-brokered private placement offering to raise gross proceeds of up to CAD $1,500,000. Under the terms of the private placement, the Company will offer for sale up to 7,500,000 Units (the “Units”) at CAD $0.20 per Unit. The Company may, in its discretion, increase the size of this offering by up to 20% to a maximum of 9,000,000 Units.

Each Unit will consist of one Common Share of the Company and one-half of one share purchase warrant (the “Warrants”), where each whole Warrant will allow the subscriber to purchase one additional Common Share of the Company for a period of two years from the date of closing. The exercise price shall be CAD $0.30 per Share. Proceeds from the private placement will be utilized for exploration and development of the Company’s projects, working capital, and general corporate purposes.

The Company may, in its discretion, pay a cash finder’s fee of up to 7% of the total gross proceeds of the offering where applicable.

The Units issued upon the closing of the private placement will be subject to a 4-month hold period. The private placement is subject to the approval of the TSX Venture Exchange.

About Desert Mountain Energy

The Company is an exploratory resource company engaged in exploration and development of helium, oil & gas and mineral properties in the Southwestern United States. In addition, the Company owns the Yellowjacket Gold Project in Atlin, British Columbia, which it has recently been developing. The Company has its executive offices in Vancouver, Canada.

The Company was incorporated under the laws of the Province of British Columbia, on April 30, 2008, and was formerly named African Queen Mines Ltd. It initially received certain southern African assets in a spin off transaction related to the acquisition of Pan African Mining Corp. by Asia Thai Mining Co., Ltd.

ON BEHALF OF THE BOARD OF DIRECTORS OF DESERT MOUNTAIN ENERGY CORP.

“Irwin Olian”
Irwin Olian
Chairman & CEO

For more information, contact:

Irwin Olian
President and CEO
E-mail: tigertail@desertmountainenergy.com
Phone: (604) 899-0100
Fax: (604) 899-0200

Carrie Howes
Corporate Communications
Email: carrie@desertmountainenergy.com
Phone:
Dubai - +971 55 997 0427
London - +44 (0) 7780 602 788
Germany - +49 (0) 21141 740411
U.K. - +44 (0) 870 490 5443
 


The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of the information contained herein. The statements made in this press release may contain certain forward-looking statements that involve a number of risks and uncertainties. Actual events or results may differ from the Company's expectations.

 

Press Release Archive
10/10/18 - DESERT MOUNTAIN ENERGY ANNOUNCES SECOND TRANCHE OF PRIVATE PLACEMENT FINANCING 09/18/18 - DESERT MOUNTAIN ENERGY ANNOUNCES RESULTS OF RECENT HELIUM AUCTION BY THE U.S. BUREAU OF LAND MANAGEMENT WHICH REFLECTED SURGING HELIUM PRICES 09/06/18 - DESERT MOUNTAIN ENERGY CLOSES SALE OF ITS YELLOWJACKET GOLD PROJECT AND ATLIN, B.C. PROPERTIES TO BRIXTON METALS 08/07/18 - DESERT MOUNTAIN ENERGY ENTERS INTO AGREEMENT TO SELL ITS YELLOWJACKET GOLD PROJECT AND ATLIN, B.C. PROPERTIES TO BRIXTON METALS  08/02/18 - SOREN CHRISTIANSEN JOINS DESERT MOUNTAIN ENERGY BOARD OF DIRECTORS 07/30/18 - ARDITO MARTOHARDJONO RESIGNS AS A DIRECTOR OF DESERT MOUNTAIN ENERGY 07/23/18 - DESERT MOUNTAIN ENERGY CLOSES $640,500 FIRST TRANCHE OF PRIVATE PLACEMENT 06/10/18 - DESERT MOUNTAIN ENERGY ACQUIRES FURTHER TRANCHE OF 12,228 ACRES OF STRATEGIC HELIUM LEASES IN ARIZONA’S HOLBROOK BASIN  06/07/18 - DESERT MOUNTAIN ENERGY ANNOUNCES PRIVATE PLACEMENT 05/29/18 - DESERT MOUNTAIN ENERGY ACQUIRES ADDITIONAL 12,219 ACRES OF STRATEGIC HELIUM LEASES IN ARIZONA'S HOLBROOK BASIN, INCLUDING ZONE WITH ORIGINAL DISCOVERY WELL 05/08/18 - DESERT MOUNTAIN ENERGY SELLS ITS PLACER MINING INTERESTS AT ATLIN, B.C. 04/18/18 - GREG NOWAK JOINS DESERT MOUNTAIN ENERGY'S TECHNICAL TEAM 04/09/18 - AFRICAN QUEEN NAME CHANGE TO DESERT MOUNTAIN, ROLLBACK 02/27/18 - AFRICAN QUEEN MINES ACQUIRES KEY HELIUM LEASES IN ARIZONA’S PROLIFIC HOLBROOK BASIN 02/19/18 - AFRICAN QUEEN MINES SIGNS AGREEMENT FOR ACQUISITION OF THE KIGHT GILCREASE SAND UNIT OIL & GAS PROJECT IN OKLAHOMA 01/31/18 - AFRICAN QUEEN MINES EMBARKS ON DIVERSIFICATION PROGRAM WITH ESTABLISHMENT OF NEW U.S. OPERATIONS 11/13/17 - AFRICAN QUEEN MINES REPORTS RESULTS FROM ITS DRILLING PROGRAM AT GOLD RUN PROSPECT IN ATLIN, BC 09/18/17 - AFRICAN QUEEN MINES COMMENCES DIAMOND DRILLING AT GOLD RUN PROSPECT AT ITS YELLOWJACKET GOLD PROJECT 09/08/17 - AFRICAN QUEEN MINES TARGETS GOLD RUN PROSPECT FOR DRILLING AT YELLOWJACKET GOLD PROJECT
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Contact Information For investment information please contact our investor relations group.

Marketing Director - Canada
Lee Dunston
(604) 788-0300
lee@desertmountainenergy.com

Corporate Communications, Europe
Carrie Howes
London: +44 7780 602 788
Dubai: +971 55 997 0427
carrie@desertmountainenergy.com

 
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