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First Helium Completes C$3.3mm Equity Raise for the Worsley Project

First Helium closed a C$3.3mm private placement, issuing 66.173mm units at C$0.05/unit to fund its Worsley project and general operating expenses. Each unit comprises a share and a warrant, with the latter exercisable at C$0.075/sh for three years. First Helium’s shares have slumped ~65% over the last year and YTD is down 27% due to delays in developing its Worsley project. However, the shares have responded positively to the equity raise and are up ~20% on the news.

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