Royal Helium inks US$20mm Credit Facility for Steveville Project

AKAP
Nov 22, 2022
2 min read

Royal Helium has executed a term sheet with an arm's length lender to provide a US$20mm three-year credit facility. Proceeds will be mainly used for development and production facilities at the Steveville helium field in Alberta, Canada. The interest rate on the loan is 14% per annum, plus a 5% structuring fee and warrants equal to 9.9% of the shares out, exercisable at a price of CAD $0.35/sh.

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