Royal Helium Secures $6 Million in Bought Deal Offering to Fuel Expansion and Well Development
Vancouver, Canada
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May 08, 2024 05:28 PM Eastern Daylight Time
Royal Helium CEO Andrew Davidson joined Steve Darling from Proactive to announce the successful completion of a bought deal public offering that raised $6 million. The offering was conducted in conjunction with underwriting firms Canaccord Genuity, Cormark Securities, and Eight Capital Corp.
Davidson detailed that the proceeds are designated for a robust exploration and development agenda. This includes drilling potential new wells at the company’s 40-mile site in Alberta and enhancing the development of existing wells in Saskatchewan. The capital will also bolster operational scaling and improve working capital to facilitate the company's ongoing progress toward self-funding from operational outputs.
He highlighted the strategic importance of this capital injection, noting it supports Royal Helium's expansion from managing a single asset to multiple assets. Davidson emphasized the critical nature of this funding in ensuring the company does not miss another exploration season, thereby maintaining momentum in its growth and development strategy.
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