Desert Mountain closes first tranche of financing

Feb 28, 2025

2025-02-28 11:34 ET – News Release

Mr. Robert Rohlfing reports

DESERT MOUNTAIN ENERGY ANNOUNCES CLOSING OF C$514,000 FIRST TRANCHE OF PRIVATE PLACEMENT

Desert Mountain Energy Corp. has closed the first tranche of its non-brokered private placement offering originally announced on Feb. 4, 2025. The company has initially raised $514,000 through the issuance of 2,056,000 units at a price of 25 cents per unit.

Each unit consists of one common share of the company and one share purchase warrant, with each whole warrant allowing the subscriber to purchase one additional share of the company for a period of one year ending Feb. 27, 2026, at a price of 35 cents per share. The expiry of the warrants may be accelerated at the election of the company by written notice if the closing price for the common shares on the TSX Venture Exchange shall be equal to or greater than 75 cents per share for a minimum of 10 consecutive trading days. Finders’ fees consisted of 153,280 finders’ warrants (but with no forced conversion) and $38,230.

The units will be subject to a four-month-plus-one-day hold period, expiring June 28, 2025.

About Desert Mountain Energy Corp.

Desert Mountain Energy is a publicly traded resource company primarily focused on the exploration, development and production of helium, hydrogen and natural gas. The company is focused on helium extraction from different raw gas sources in an environmental and economic manner, supplying elements deemed critical to the renewable-energy and high-technology industries.

We seek Safe Harbor.

https://www.desertmountainenergy.com/