Vancouver, British Columbia — DESERT MOUNTAIN ENERGY CORP. (the “Company”) (TSX.V: DME, U.S. OTC: DMEHF, Frankfurt: QM01) is pleased to announce that it has appointed Mr. Don Mosher and Ms. Jenaya Rohlfing to the board of directors at its meeting last Friday, August 14, 2020.
Additionally, the board voted to grant incentive stock options to purchase in aggregate 490,000 shares of its Common Stock to the recently appointed board members and to two other individuals who perform work for the company in its corporate offices. These options were granted on August 14, 2020 and are subject to any necessary regulatory approvals.
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 $0.73 per Share. They are subject to the Company’s customary vesting policy in accordance with the Company’s rolling stock option plan and guidelines established by the exchange.
About Desert Mountain Energy
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:
Don Mosher, Vice President of Capital Markets
E-mail: [email protected]
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.