/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES./
SASKATOON, SK, May 17, 2021
/CNW/ - Royal Helium Ltd. ("Royal" or the
"Company") (TSXV: RHC) is pleased to announce that, as a
result of excess demand, it has agreed with the syndicate of
underwriters, co-led by Cormark Securities Inc. and Eight Capital
(collectively, the "Underwriters"), to increase the size of
its previously announced bought deal public offering of units. The
Company will now issue 30,000,000 units (the "Issued
Units") of Royal at a price (the "Offering
Price") of $0.50 per Issued
Unit, for gross proceeds to the Company of $15,000,000 (the "Offering").
Royal has granted to the Underwriters an option to purchase
additional units, equal to 15% of the number of Issued Units sold
pursuant to the Offering at the Offering Price, for market
stabilization purposes and to cover over-allotments for a period
expiring 30 days after the date of closing.
The net proceeds of the Offering will be used to fund
exploration drilling on the Company's lands and for general
corporate purposes.
Closing is expected on or about June 8,
2021 and is subject to TSX Venture Exchange and other
necessary regulatory approvals.
About Royal Helium Ltd.
Royal is focused on the exploration and development of primary
helium production in southern Saskatchewan. With over 400,000 hectares of
prospective helium lands held under permits, leases and
applications, Royal is one of the largest helium leaseholders in
North America. Located next to
highways, roads, cities and importantly close to existing oil and
gas infrastructure, Royal's projects were methodically evaluated
for helium potential for over two years, and have been vetted by
helium experts, professional geologists and engineers.
For more information, please contact Andrew Davidson, the Chairman, President and CEO
of the Company.
This news release does not constitute an offer to sell, or
the solicitation of an offer to buy securities in any jurisdiction
in which such offer or solicitation would be unlawful prior to
registration or qualification under the securities laws of such
jurisdiction.
The securities described herein have not been, and will not
be, registered under the United States Securities Act of 1933, as
amended (the "Securities Act"), or the securities laws of any state
of the United States, and may not
be offered or sold in the United
States or to, or for the account or benefit of, any U.S.
Person (as defined in Regulation S of the Securities Act) or a
person in the United States,
unless an exemption from such registration requirements is
available.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
INFORMATION
This release includes certain statements that may be deemed
to be "forward-looking statements". All statements in this release,
other than statements of historical facts, that address events or
developments that management of the Company expects, are
forward-looking statements. Although management believes the
expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of
future performance, and actual results or developments may differ
materially from those in the forward-looking statements. The
Company undertakes no obligation to update these forward-looking
statements if management's beliefs, estimates or opinions, or other
factors, should change. Factors that could cause actual results to
differ materially from those in forward-looking statements, include
market prices, exploration and development successes, continued
availability of capital and financing, and general economic, market
or business conditions. Please see the public filings of the
Company at www.sedar.com for further information.
SOURCE Royal Helium Ltd.