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Desert Mountain to Raise C$6mm in Equity Funding

Desert Mountain Energy announced the intention to raise C$5.98mm through a a non-brokered private placement. The company has decided to offer 2.3 million units at C$2.60/unit, which includes a warrant to purchase a further share. Of the C$5.98mm, the company has already received C$5.3mm with the balance also expected shortly. DME failed to raise money in June at C$3/unit originally, reduced to C$2.50/sh and eventually abandoned the offering.

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