SASKATOON, SK, July 20,
2023 /CNW/ - Royal Helium Ltd. (TSXV: RHC) (OTCQB:
RHCCF) ("Royal" or the "Company") announces that it
proposes to issue an aggregate of 303,750 common shares in the
capital of the Corporation (the "Common Shares") to
David T. Young, subject to receiving
final acceptance from the TSX Venture Exchange (the "TSXV"
or the "Exchange").
The Shares will be issued at a deemed price of $0.40 to Mr. Young pursuant to a Shares for
Services Agreement dated March 20,
2023 between Mr. Young and the Company, subject to TSXV
final approval. Mr. Young has provided the Company with capital
markets, financial modeling and forecasting services as an
independent contractor for the first half of 2023 ended
June 30, 2023. Such Common Shares to
be issued to Mr. Young are at a deemed price per Common Share
permitted under applicable Exchange policies. The Company plans to
settle any outstanding fees owed to Mr. Young by issuing Common
Shares.
About Royal Helium Ltd.
Royal is an exploration, production and infrastructure company
with a primary focus on the development and production of
helium. The Company controls over 1,000,000 acres of
prospective helium permits and leases across southern Saskatchewan and southeastern Alberta. Given the current and foreseeable
global undersupplied nature of this critical and non-renewable
product, Royal is well positioned to be a leading North American
producer of this increasingly high value commodity.
Royal's helium reservoirs are carried primarily with nitrogen.
Nitrogen is not considered a greenhouse gas (GHG) and therefore has
a low GHG footprint when compared to other jurisdictions that rely
on large scale natural gas production for helium extraction. Helium
extracted from wells in Saskatchewan and Alberta can be up to 90% less carbon intensive
than helium extraction processes in other jurisdictions.
Andrew Davidson
President and Chief Executive Officer
Royal Helium
Ltd.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
INFORMATION
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
This news release includes certain statements that may be
deemed to be "forward-looking statements". All statements in news
this release, other than statements of historical facts, that
address events or developments that management of the Company
expects, are forward-looking statements, including, the Company's
intended use of the net proceeds of the Offering. 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.