Royal Helium Announces C$6mm Bought Deal
- AKAP
- Apr 24, 2024
- 6 min read
Royal Helium secured new funding via a bought deal for 66.67mm units at C$0.09/unit, raising C$6mm, with plans to expand operations across multiple projects. The company's shares have fallen ~20% since the news (as of 26th April 2024). The funds will be utilised for drilling the 40 Mile project in Alberta and to support the Ogema project in Saskatchewan. Additionally, the company has established successful offtake agreements, particularly at the Steveville Helium Purification Facility in Alberta, which has started delivering high purity helium to aerospace and defence industries, alongside a CO2 offtake agreement for food and beverage markets in the Pacific Northwest Region of the United States. The company also released its latest investor presentation discussing its exploration and development plan for 2024.