Published by Todd Bush on March 21, 2025
VANCOUVER, BC, March 17, 2025 /PRNewswire/ – Desert Mountain Energy Corp. (the "Company") (TSXV: DME) (OTC: DMEHF) (Frankfurt: QM01) From the President of the Company. Desert Mountain Energy Corp. is pleased to announce significant progress on Senate Bill 1444, which aims to establish responsible helium exploration and production regulations in Arizona.
On Thursday, March 13, 2025, the Arizona Senate voted to advance SB1444 to the House, where it received bipartisan support from stakeholders. The bill has now been transferred to the Arizona House of Representatives, where it will be assigned to the appropriate committee for further review and consideration.
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Once assigned to a committee, the bill will undergo a review before proceeding to a full House vote. If any amendments are proposed and accepted during this process, the bill will return to the Senate for another vote before being sent to the Governor's office for final approval.
Robert Rohlfing, CEO of Desert Mountain Energy Corp., expressed his appreciation for the legislative process, stating, "We appreciate the thoughtful questions, careful consideration, and meaningful suggestions from the legislators. We look forward to returning to Arizona upon final approval."
DME has closed on the second tranche of its non-brokered private placement offering originally announced on February 4, 2025. The Company has raised an additional C$514,000 through the issuance of 970,000 Units at a price of C$0.25 per 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 April 16, 2025.
Each Unit consists of one common share of the Company and one share purchase warrant (the "Warrants"), with each whole Warrant allowing the subscriber to purchase one additional share of the Company for a period of one year ending March 17, 2026, at a price of CAD $0.35 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 CAD $0.75 per 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 July 18, 2025.
Desert Mountain Energy Corp. 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
_"Robert Rohlfing"_Robert RohlfingExec 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.
SOURCE Desert Mountain Energy Corp.
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