Vancouver, British Columbia — DESERT MOUNTAIN ENERGY CORP. (the “Company”) (TSX.V: DME, U.S. OTC: DMEHF, Frankfurt: QM01) is pleased to announce that shares of its Common Stock (CUSIP No. 25043D107) have now been approved for DTC Eligibility by the Depository Trust Company (“DTC”).
Founded in 1973 and based in New York City, DTC is the world’s leading securities depository. It is organized as a limited purpose trust company and provides safekeeping through electronic record-keeping of securities balances of its participants. DTC facilitates electronic trading of securities in the U.S. through its depository system, which allows participating brokerage firms to electronically clear and settle trades with other member firms, rather than transferring physical certificates. DTC is generally regarded as facilitating trading through increased ease of settlement and reduced costs.
According to Irwin Olian, CEO of the Company, “We are delighted that our securities have now been approved for DTC eligibility, as that should help facilitate trading in the U.S. and elsewhere. The securities industry has been rapidly moving forward with electronic clearing and elimination of physical stock certificates. We believe it is important for the Company’s shares to be part of this process.”
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
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.