Tickers: XTSX:DME, PINX:DMEHF
Vancouver, British Columbia - TheNewswire - March 9, 2020 -- DESERT MOUNTAIN ENERGY CORP. (the "Company") (TSXV:DME) U.S. (OTC:DMEHF) (Frankfurt: QM01) announces that it has granted on March 9, 2020, subject to any necessary regulatory approvals, incentive stock options to purchase in aggregate 940,000 shares of its Common Stock. Of such options, 340,000 were granted to a group of four officers and directors, while 600,000 were granted to a group of four consultants and employees. Said options were granted under the Company's Stock Option Plan and are exercisable for a period of 3 years at a price of CAD $0.22 per Share. They are subject to the Company's customary vesting policy.
The Company is an exploratory resource company engaged in exploration and development of helium, oil & gas and mineral properties in the Southwestern United States. Until September 5, 2018, the Company also owned the Yellowjacket Gold Project in Atlin, British Columbia, which it had been developing. The Company has its executive offices in Vancouver, Canada. The Company was incorporated under the laws of the Province of British Columbia, on April 30, 2008, and was formerly named African Queen Mines Ltd. It initially received certain southern African assets in a spin off transaction related to the acquisition of Pan African Mining Corp. by Asia Thai Mining Co., Ltd.
ON BEHALF OF THE BOARD OF DIRECTORS OF
DESERT MOUNTAIN ENERGY CORP.
Chairman & CEO
For more information, contact:
Irwin Olian, President and CEO
Phone: (604) 788-0300
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of the information contained herein. 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.
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