HOUSTON, TEXAS (Ian Silverman, Energy Analytics Institute, 17.Mar.2025) — Desert Mountain Energy Corp. (DME), a publicly traded resource company primarily focused on the exploration, development and production of helium, hydrogen and natural gas, closed on the second tranche of its non-brokered private placement offering originally announced on 4 Feb. 2025.
The company has raised an additional C$514,000 through the issuance of 970,000 units at a price of C$0.25/unit. The company has now raised a total of C$756,500 through the issuance of 3,026,000 units.
The company is also extending the closing of the private placement a further 30 days to 16 Apr. 2025, DME said on 17 Mar. 2025 in an official statement.
Each unit consists of 1 common share of the company and 1 share purchase warrant, with each whole warrant allowing the subscriber to purchase 1 additional share of the company for a period of 1 year ending 17 Mar. 2026, at a price of CAD $0.35/share.
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 CAD $0.75/share for a minimum of ten consecutive trading days. Finder’s fees on the second tranche consisted of 71,200 finders warrants (but with no forced conversion) and $17,800 cash.
The units will be subject to a 4-month plus one-day hold period expiring 18 Jul. 2025.
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By Ian Silverman reporting from Houston. © 2025 Energy Analytics Institute (EAI). All Rights Reserved.
