Global Helium Raises C$4mm and Announces Board Changes

Global Helium plans to raise C$4mm through a private placement, offering up to 16mm preferred shares at C$0.25/share paying interest at 10% p.a. and convertible into ordinary shares at the same price. This financing will fund the drilling of two helium wells at its Manyberries project in Southeast Alberta before YE’23. Global has selected the location of its first appraisal well (09-04-012-04-W4) at Manyberries, where it has farmed in from Perpetual Energy for a 75% stake. Alongside this, there have been changes to the company's leadership, including the appointment of a reconstituted Board of Directors, with Jesse Griffith appointed as the new CEO (previously president and director of Global). HECO confirmed the resignation of: Brad Nichol (CEO and director), Chris Cooper (director), Rod Nichol (director) and Wes Siemens (director).