DMEHF - Desert Mountain Energy to raise ~C$5M in stock and warrants offering

Desert Mountain Energy (OTCQX:DMEHF) has entered into non-brokered private placement offering to raise up to C$5M. Per the terms, the company will offer for sale up to 1.667M units at C$3.00/unit. The company shall increase the maximum of the offering by up to 5% to a maximum of 1.75M units. 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 units will be subject to a 4-month hold period.

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Desert Mountain Energy to raise ~C$5M in stock and warrants offering