U.S. OTC: DMEHF
VANCOUVER, BC, May 27, 2021 /CNW/ - DESERT MOUNTAIN ENERGY CORP. (the "Company") (TSXV: DME) (OTC-QX: DMEHF) (FRA: QM01) From the President of the Company.
Desert Mountain Energy Corp is pleased to announce the following corporate update including final numbers from the completed forced conversion of 2 series of 2 year, $2 warrants attached to the Company's October 2020, $1.60 unit financing.
$2.00 warrants exercised totaled 7,953,062 realizing $15,906,124
Shares currently outstanding 70,110,909
Warrants outstanding 4,082,266
Options outstanding 5,267,500
Fully diluted shares, warrants and options 79,460675
Total Cash currently in the treasury $28,970,078.80
The Company would like to thank all investors involved in the October 2020 financing for their support.
Desert Mountain Energy Corp. is planning on building a vertically integrated helium producer located in the Holbrook Basin, AZ. Currently, the Company is drilling well #4.
ABOUT DESERT MOUNTAIN ENERGY
Desert Mountain Energy Corp. is a publicly traded exploration and resource company focused on the discovery and development of rare earth gas fields in the U.S. The Company is primarily looking for elements deemed critical to the renewable energy and high technology industries.
We seek safe harbor
Chairman & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in polices of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. 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.
Cautionary Note Regarding Forward-Looking Statements
This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation. Such forwardlooking statements and information herein include but are not limited to statements regarding the Company's anticipated performance in the future the planned exploration activities, receipt of positive results from drilling, the completion of further drilling and exploration work, and the timing and results of various activities.
Forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company and its operations to be materially different from those expressed or implied by such statements. Such factors include, among others, changes in national and local governments, legislation, taxation, controls, regulations and political or economic developments in Canada and the United States; financial risks due to helium prices, operating or technical difficulties in exploration and development activities; risks and hazards and the speculative nature of resource exploration and related development; risks in obtaining necessary licenses and permits, and challenges to the Company's title to properties.
Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to the continued operation of the Company's exploration operations, no material adverse change in the market price of commodities, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or information, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements or information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company does not intend to, and does not assume any obligation to update such forward-looking statements or information, other than as required by applicable law.
SOURCE Desert Mountain Energy Corp.
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