Desert Mountain notes 11.3M warrants to begin trading

Mar 29, 2023

2023-03-29 13:12 ET – News Release

Mr. Robert Rohlfing reports

DESERT MOUNTAIN WARRANTS TO COMMENCE TRADING FRIDAY, MARCH 31, 2023

Desert Mountain Energy Corp. has noted that 11.3 million common share purchase warrants of the company, issued pursuant to its short-form prospectus dated March 20, 2023, will commence trading on TSX Venture Exchange at the opening Friday, March 31, 2023.

Warrant exercise price/term: $2.70 per common share to March 24, 2025, subject to acceleration

Transfer agent: TSX Trust Company

Trading symbol: DME.WT

CUSIP No.: 25043D123

In the event the volume-weighted average trading price of the common shares of the company for any 10 consecutive trading days on the TSX Venture Exchange exceeds $4.50 per share, the company will have the right to accelerate the expiry date of the warrants by providing written notice to each registered holder of warrants and the warrant agent, and by distributing a press release within 10 business days of the occurrence of such event. If an acceleration notice is provided by the company, the expiry of the warrants will be accelerated to 5 p.m. (Vancouver time) on the date that is not less than 30 days following the provision of such acceleration notice, provided, however, that if the accelerated expiry date falls on a day that is not a business day, the accelerated expiry date shall be deemed to be the next business day.

Up to an additional 545,000 warrants may still be issued and listed for trading. Under the short-form prospectus, the company’s agent for the offering, Beacon Securities Ltd., has up to 30 days from March 24, 2023, to exercise the remainder of its overallotment option. For further details, please refer to the company’s news release dated March 24, 2023, and the short-form prospectus dated March 20, 2023, which have both been filed and are available on SEDAR.

About Desert Mountain Energy Corp.

Desert Mountain Energy is a publicly traded exploration and resource company focused on the discovery and development of rare earth gas fields in the United States. The company is primarily looking for elements deemed critical to the green energy and high technology industries.

We seek Safe Harbor.

https://www.desertmountainenergy.com/