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North American Helium Raises $39 Million and Signs Contract for Building Canada’s Largest Helium Purification Facility in Saskatchewan

May 28, 2020•over 5 years ago

Amount Raised

$39 Million

Calgary

Description

North American Helium Inc. (“NAH” or the “Company”) today announced the Company has closed a non-brokered common share equity financing of approximately $39 million. Proceeds from the financing will be used to purchase and construct the Company’s second helium purification plant at the Battle Creek field in Southwest Saskatchewan, to fund an active drilling program, and for general corporate purposes.

Company Information

Company

North American Helium

Location

Calgary, Alberta, Canada

About

NAH has been the most active helium driller in Saskatchewan with over 30 wells drilled to date. The Company plans to have a continuous capital investment program, which will include acquisition of additional third-party and proprietary seismic data, drilling 15-20 wells per year, and concurrently building additional helium processing facilities as new fields are developed. Founded in 2013, North American Helium is a Calgary-based, private helium exploration and production company. To our knowledge, NAH is the only company in the past 40 years to successfully explore for and discover new economic fields of high helium gas in North America. Over the past several years, NAH has made four new discoveries and acquired rights to explore for and produce helium on a land base of over 5.0 million contiguous acres, primarily in Saskatchewan, Canada and Utah, USA. The Company owns and operates Canada’s largest helium purification facility, providing reliable, long-term North American supply of this scarce resource to meet growing demand. For more information please visit: https://nahelium.com.

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