Vancouver, British Columbia — DESERT MOUNTAIN ENERGY CORP. (the “Company”) (TSX.V: DME | U.S. OTC: DMEHF | Frankfurt: QM01) is pleased to announce that Mr. Scott Davis, CPA, CGA, has been appointed to serve as the new Chief Financial Officer of the Company, replacing Ms. Jennifer Todhunter. Ms. Todhunter has resigned as CFO, Corporate Secretary and as a Director in order to pursue other professional and personal interests outside the resource sector. She will remain as a Financial Consultant for the Company through January 31, 2020.
Mr. Davis is a partner of Vancouver-based Cross Davis & Company LLP Chartered Professional Accountants. The firm is focused on providing accounting and management services for publicly-listed companies. Mr. Davis has extensive accounting and finance experience dealing with the complexities of both private and public corporations in a variety of industries. His experience includes CFO positions of several companies listed on the TSX Venture Exchange. His past senior management experience includes four years at Appleby as an Assistant Financial Controller, two years at Davidson & Company LLP Chartered Professional Accountants as an Auditor and five years with Pacific Opportunity Capital Ltd. as an Accounting Manager.
In addition to the appointment of Mr. Scott Davis as new CFO of the Company, Ms. Frances Murphy has been appointed to serve as the new Corporate Secretary of the Company. She has been associated with Cross Davis & Co. LLP Chartered Professional Accountants for the past sixteen years. She has developed considerable experience in corporate governance and secretarial matters as well as regulatory compliance. She will be working closely alongside the Company’s Senior Management to ensure efficient corporate governance practices and regulatory compliance in her role as Corporate Secretary.
In connection with the foregoing appointments, the Company has granted incentive stock options, subject to any necessary regulatory approvals, to purchase up to 100,000 shares of its Common Stock to Mr. Davis and up to 20,000 shares of its Common Stock to Ms. Murphy. The options are exercisable for a term of three years at a price of CAD $0.20 per share.
According to Irwin Olian, CEO of the Company, “We are very gratified with the outstanding contribution that Jennifer Todhunter has made to the Company and its predecessors in our mining group over the past 14 years. We wish her every success in her new endeavors. At the same time, we welcome Scott Davis and Frances Murphy to our management team. They are highly experienced and well-qualified professionals who will be able to provide the Company with the accounting, corporate governance and regulatory compliance functions needed to help move the Company forward in the future as it expands its operations in Arizona and Oklahoma.”
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. Until September 5, 2018, the Company also owned the Yellowjacket Gold Project in Atlin, British Columbia, which it had 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.
Chairman & CEO
For more information, contact:
President and CEO
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.