03:48 PM EDT, 03/17/2025 (MT Newswires) -- Desert Mountain Energy ( DMEHF ) was at last look on Monday up over 17%, after the company on Monday said Arizona lawmakers are advancing legislation to establish responsible helium exploration and production regulations in Arizona.

On March 13, the Arizona Senate voted to advance Bill SB1444 to the House, where it received bipartisan support from stakeholders. The bill has now been transferred to the Arizona House of Representatives for committee study.

"We appreciate the thoughtful questions, careful consideration, and meaningful suggestions from the legislators. We look forward to returning to Arizona upon final approval," said chief executive Robert Rohlfing.

In addition, the company said it closed the second tranche of a non-brokered private placement offering of share units, raising an additional $514,000 through the sale of 9.77-million units priced at $0.25 per unit and made up of a share and a one-year warrant to buy a second share for $0.35.

The company has now raised a total of $756,500 through the issuance of 3.02- million units.

The company's shares were last seen up $0.04 to $0.27 on the TSX Venture Exchange.

Price: 0.27, Change: +0.04, Percent Change: +17.39