African Queen Mines Ltd. said March 22 that intends to change its name to Desert Mountain Energy Corp.
The company, which recently acquired helium and oil and gas properties in Arizona and Oklahoma, said the name change will better reflect its future direction and goals.
It also plans to consolidate its shares on a 1-for-4 basis. The company's current 114,216,051 shares outstanding will reduce to about 28,554,012 shares.
The planned name change and share consolidation are subject to TSX Venture Exchange approval.