Desert Mountain Energy upsizes equity offering

Jun. 21, 2022 7:04 AM ETDesert Mountain Energy Corp. (DMEHF), DME:CABy: Preeti Singh, SA News Editor12 Comments
  • Desert Mountain Energy (OTCQX:DMEHF) has upsized its non-brokered private placement offering citing greatly increased demand.
  • The firm now plans to offer 2.5M units at C$3/unit to raise up to C$7.5M, which is an increase of 50% over the original amount announced.
  • Each unit will consist 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 three years from the date of the closing at a price of C$4.00/share.
  • Proceeds from the private placement will be utilized for exploration and development of the company's helium projects, as well as working capital and general corporate purposes.
  • The company may in its sole discretion increase the maximum of the offering by up to 10% to a maximum of 2.75M units.

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