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Royal Helium C$7.2M Upsized Equity Raise to fund Steveville

Royal Helium has completed an upsized equity raise of C$7.2mm in gross proceeds, which is up from the original C$5mm that was expected to be raised. The company issued over 27.9 million units, each consisting of one common share at C$0.26/sh and one share purchase warrant at C$0.32/sh. Royal intends to use the net proceeds from the offering to fund the commencement of various early works projects, as well as the engineering and design related to the construction of its planned helium production plant in Steveville, Alberta.

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