Royal Helium closed a "bought deal" private placement, raising C$7.3mm via 7,300 debenture units. The offering exceeded the initial target of C$7mm due to strong demand. The funds will be used for midstream equipment and services related to the Steveville helium processing facility. Additionally, the financing will support the resumption of exploration activities in Saskatchewan and Alberta. Each debenture unit consists of a 12% unsecured convertible debenture and 2,703 warrants. The debentures are convertible into common shares at a conversion price of C$0.37/sh, while the warrants have an exercise price of C$0.40/sh and a term of 36 months.
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