Royal Helium Attracts Four Final Bids for the Business

Royal Helium and its subsidiaries, entered creditor protection under Canada’s CCAA on 19 February 2025 following insolvency proceedings initiated in January. Operations at its Steveville facility are currently halted. Alvarez & Marsal was appointed Monitor and is overseeing a Sale and Investment Solicitation Process (SISP), which attracted nine Phase I bids and advanced five to Phase II, with four submitting final bids by the 25 April deadline. The group has drawn C$2.2mm under a Debtor-in-Possession (DIP) facility and forecasts a negative cash flow of C$306k through mid-July, ending with just C$32k in cash. The court-approved stay of proceedings has been extended to 27 June 2025, during which the Monitor will assess offers and aim to close a transaction.

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