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Imperial Helium Closes Private Placement Financing of C$14mm

Imperial Helium has concluded an equity raise of ~CAD 14 million, issuing 56mm subscription receipts at CAD 0.25 each. This private placement started at CAD 7 mm, was upsized to CAD 13.5 mm and has now closed at CAD 14mm. The net proceeds will be used for production testing of the company’s foundational asset, potential acquisition of additional helium assets and for other general corporate purposes.

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Helium One ended 2022 with a net cash balance of US$13.7mm, providing ample cash for its upcoming drilling campaign. In H2'22, cash outflow from operations was US$1.6mm and capital expenditure US$1.5m

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