Desert Mountain Energy Stock Price, News & Analysis

Desert Mountain Energy Corp. (TSX.V: DME, OTC: DMEHF) closed a non-brokered private placement on September 13, 2022, raising CAD $6,090,400. The issuance consisted of 2,342,461 units at $2.60 each, with each unit comprising one common share and one share purchase warrant, valid for three years at $3.50 per share. Proceeds will fund helium processing facility development and general operations. A total of $128,128 in finders' fees was paid. Securities from this offering are subject to a four-month hold, expiring on January 14, 2023.

Desert Mountain Energy Corp. (TSXV: DME, OTC: DMEHF) announced the receipt of $5.3 million from a private placement, with the remaining $5.98 million expected shortly, pending TSXV approval. The completion rig is currently at the Gunnar Dome Well site, with completion and testing projected for next week. Results from independent laboratory sampling will be shared once available. The company focuses on exploring helium and other noble gases critical to renewable energy and high technology industries.

Desert Mountain Energy Corp. (TSXV: DME; OTC: DMEHF) announced a non-brokered private placement aiming to raise up to CAD $5.98 Million. The offer includes up to 2.3 million Units priced at CAD $2.60 each, consisting of one common share and one share purchase warrant. Each warrant allows the purchase of an additional share at CAD $3.50 for three years, with potential acceleration if shares reach CAD $7.00 for ten consecutive trading days. Proceeds will support working capital and general corporate needs, pending TSX Venture Exchange approval.

Desert Mountain Energy Corp. has acquired an additional 40 acres in Navajo County, Arizona for future facilities. The company has made significant progress on the Gunnar Dome prospect, with a completion rig scheduled for late August 2022. Results from testing and sampling will be announced subsequently. Notably, CEO Robert Rohlfing was invited to present at the Asia Pacific Drilling Technology Conference in Bangkok, highlighting the company's advancements in sustainable drilling technologies and their near zero-carbon processing facility for noble gases.

Desert Mountain Energy Corp. (TSXV: DME, OTC: DMEHF, Frankfurt: QM01) announced significant helium and hydrogen findings at its Gunnar Dome prospect in Arizona. The drilling operations revealed multiple zones with helium, hydrogen, and argon. The company is currently cementing production casing and expects to have a completion rig by the end of August. Management anticipates utilizing these findings for future commercial production and developing hydrogen assets for long-term shareholder value.

Desert Mountain Energy Corp. (TSXV: DME, OTC: DMEHF) announced a partnership with Beam Earth Ltd. to explore commercial opportunities for its sulphur-free hydrogen discoveries. The agreement aims to leverage Beam Earth's expertise in innovative hydrogen production alongside DME's helium processing facilities. This collaboration will extend beyond Arizona to include various jurisdictions. DME plans to implement efficient design principles from its helium facility into hydrogen processing as it continues to develop its portfolio of helium, hydrogen, and noble gases.

Desert Mountain Energy Corp. announced the spudding of the Gunnar Dome Wildcat Well, targeting a depth of 4,500 feet to explore the top Granite Formation. The well aims to assess gas composition, expected to have high nitrogen levels. However, the company has canceled a previously announced private placement of $7.5 million due to market conditions. The company focuses on helium, hydrogen, and noble gas exploration, essential for renewable energy and high-tech industries.

Desert Mountain Energy Corp. (TSXV: DME, OTC: DMEHF) announced that a drilling rig will mobilize to the Gunnar Dome prospect in Arizona, aiming for a depth of approximately 4,500 feet. This well targets gas zones with high nitrogen concentrations, and initial helium production is expected through a plant under construction by GENERON. The company is in discussions for helium supply agreements but currently has no long-term contracts. Additionally, Desert Mountain is developing hydrogen production strategies and addressing lease claims related to the McCauley family minerals.

Desert Mountain Energy Corp. announced a reduction in the per unit price of its private placement from $3.00 to $2.50 due to negative market conditions affecting trading prices. The private placement aims to raise funds while all other terms—including a three-year warrant allowing shares to be purchased at $4.00—remain unchanged. This adjustment is subject to TSX Venture Exchange approval.