21:29:02 EDT Sun 24 May 2020
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Desert Mountain Energy Corp
Symbol DME
Shares Issued 36,645,051
Close 2019-05-01 C$ 0.18
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Desert Mountain names Davis as CFO; Todhunter resigns

2019-05-01 11:29 ET - News Release

Mr. Irwin Olian reports


Desert Mountain Energy Corp. has appointed Scott Davis, CPA, CGA, as the new chief financial officer of the company, replacing Jennifer Todhunter. Ms. Todhunter has resigned as CFO, corporate secretary and as a director in order to pursue other professional and personal interests outside the resource sector. She will remain as a financial consultant for the company through Jan. 31, 2020.

Mr. Davis is a partner of Vancouver-based Cross Davis & Company LLP, Chartered Professional Accountants. The firm is focused on providing accounting and management services for publicly listed companies. Mr. Davis has extensive accounting and finance experience dealing with the complexities of both private and public corporations in a variety of industries. His experience includes CFO positions of several companies listed on the TSX Venture Exchange. His past senior management experience includes four years at Appleby as an assistant financial controller, two years at Davidson & Company LLP, Chartered Professional Accountants, as an auditor and five years with Pacific Opportunity Capital Ltd. as an accounting manager.

In addition to the appointment of Mr. Davis as new CFO of the company, Frances Murphy has been appointed to serve as the new corporate secretary of the company. She has been associated with Cross Davis for the past 16 years. She has developed considerable experience in corporate governance and secretarial matters, as well as regulatory compliance. She will be working closely alongside the company's senior management to ensure efficient corporate governance practices and regulatory compliance in her role as corporate secretary.

In connection with the foregoing appointments, the company has granted incentive stock options, subject to any necessary regulatory approvals, to purchase up to 100,000 shares of its common stock to Mr. Davis and up to 20,000 shares of its common stock to Ms. Murphy. The options are exercisable for a term of three years at a price of 20 cents per share.

According to Irwin Olian, chief executive officer of the company: "We are very gratified with the outstanding contribution that Jennifer Todhunter has made to the company and its predecessors in our mining group over the past 14 years. We wish her every success in her new endeavours. At the same time, we welcome Scott Davis and Frances Murphy to our management team. They are highly experienced and well-qualified professionals who will be able to provide the company with the accounting, corporate governance and regulatory compliance functions needed to help move the company forward in the future as it expands its operations in Arizona and Oklahoma."

About Desert Mountain Energy Corp.

Desert Mountain is an exploratory resource company engaged in exploration and development of helium, oil and gas, and mineral properties in the southwestern United States. Until Sept. 5, 2018, the company also owned the Yellowjacket gold project in Atlin, B.C., which it had been developing. The company has its executive offices in Vancouver, Canada. The company was incorporated under the laws of British Columbia on April 30, 2008, and was formerly named African Queen Mines Ltd.

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