DESERT MOUNTAIN ENERGY ANNOUNCES PROGRESS ON ARIZONA HELIUM EXPLORATION BILL
Rhea-AI Summary
Desert Mountain Energy Corp. (DMEHF) reports significant progress on Senate Bill 1444 for helium exploration regulations in Arizona. The bill has advanced from the Senate to the House with bipartisan support as of March 13, 2025, and awaits committee assignment for further review.
Additionally, the company has completed its second tranche of a non-brokered private placement, raising C$514,000 through the issuance of 970,000 Units at C$0.25 per Unit. The total raised now stands at C$756,500 from 3,026,000 Units. Each Unit includes one common share and one warrant exercisable at CAD $0.35 until March 17, 2026. The private placement closing has been extended to April 16, 2025.
Positive
- Progress on helium regulation bill SB1444 with bipartisan support
- Successful second tranche financing raising C$514,000
- Total private placement raised C$756,500 to date
Negative
- Dilution of existing shareholders through new unit issuance
- Extended private placement suggests possible challenges in raising targeted amount
News Market Reaction
On the day this news was published, DMEHF gained 11.45%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
TSX.V: DME
On Thursday, March 13, 2025, the
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
Private Placement
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
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
The Units will be subject to a 4-month plus one-day hold period expiring July 18, 2025.
ABOUT DESERT MOUNTAIN ENERGY
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 Rohlfing
Exec 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 forward looking 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
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 nor does not assume any obligation to update such forward-looking statements or information, other than as required by applicable law.
View original content to download multimedia:https://www.prnewswire.com/news-releases/desert-mountain-energy-announces-progress-on-arizona-helium-exploration-bill-302403510.html
SOURCE Desert Mountain Energy Corp.
FAQ
What is the status of Desert Mountain Energy's (DMEHF) Arizona helium exploration bill SB1444?
How much did Desert Mountain Energy (DMEHF) raise in its second tranche private placement?
What are the terms of DMEHF's warrant acceleration clause?
When does the private placement extension for Desert Mountain Energy (DMEHF) end?
