Royal Helium Ltd. announced a private placement to issue 12,500,000 units at a price of CAD 0.24 per unit for the gross proceeds of up to CAD 3,000,000 on November 7, 2023. Each unit shall be comprised of one common share of the company and one purchase warrant of the company. Each warrant shall entitle the holder thereof to purchase one Common Share at an exercise price of CAD 0.31 for a period of 36 months from the closing of the offering.

The company has granted the Underwriters an option to increase the size of the offering by up to 15% of the number of units by giving written notice of the exercise of the Underwriters? Option, or a part thereof, to the company at any time up to 48 hours prior to the closing of the offering. The transaction is expected to close on or about November 13, 2023.

The closing is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the TSX Venture Exchange.