Global Helium Corp. Announces Completion of $5 Million Non-Brokered Private Placement

Rhea-AI Summary

Global Helium Corp. has successfully completed a $5 million non-brokered private placement, issuing 7,774,820 units at $0.65 each, resulting in gross proceeds of $5,053,633. Each unit contains one common share and one warrant, allowing for the purchase of additional shares at $1.00 for two years. Post-placement, the company expects to hold over $9 million in treasury funds, allocated for seismic evaluations, drilling prospects in southern Saskatchewan, and general working capital. The placement awaits final acceptance by the Canadian Securities Exchange.

Positive

• Raised $5,053,633 in gross proceeds through private placement.
• Expecting over $9 million in treasury after the placement.
• Funds will support seismic evaluations and drilling activities.

Negative

• None.

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES

CALGARY, AB / ACCESSWIRE / October 6, 2021 / Global Helium Corp. (CSE:HECO)(OTC PINK:HECOF) (the "Company" or "Global"), a helium exploration and development company, is pleased to announce that it has completed a $5 million non-brokered private placement (the "Private Placement"). The Company issued 7,774,820 units (each, a "Unit") at a price of $0.65 per Unit for gross proceeds of $5,053,633. Each Unit is comprised of one common share of the Company (a "Share") and one Share purchase warrant (a "Warrant"). Each Warrant entitles the holder thereof to acquire one Share at a price of $1.00 for a period of two (2) years following closing of the Private Placement. Broker's fees totaling $142,386 (2.8%) of the gross proceeds and 218,695 Warrants have been paid in connection with the Private Placement.

Following the closing, the Company expects to have over $9 million in Treasury.

The net proceeds received from the Private Placement will be used primarily for the shooting, purchase and evaluation of seismic, to drill a number of prospects in southern Saskatchewan, marketing and for general working capital purposes. All securities issued under the Private Placement will be subject to a four-month hold period from the date of issue in accordance with applicable securities laws. The remainder of the Private Placement is subject to final acceptance of the Canadian Securities Exchange.

ON BEHALF OF THE BOARD OF GLOBAL HELIUM CORPORATION

"Wes Siemens"

Wes Siemens, P.Eng.
President

For more information:

Global Helium Investor Relations
Tel: +1 877 816 8163
info@globalhelium.com

About Global Helium (CSE: HECO) (OTC: HECOF)

Global Helium is an exploration stage company focused on the exploration, acquisition, development, and production of helium to meet the needs of increasing helium demand and shrinking helium supply in North America and around the world. The Company has a seasoned team of industry professionals and technical experts and has established connections with North American and international helium buyers. Together, the team has captured 100%-owned permits encompassing over 650,000 acres prospective for helium in Saskatchewan's well-established helium fairway.

Find out more at: https://globalhelium.com/.

No securities regulatory authority has reviewed nor accepts responsibility for the adequacy or accuracy of the content of this news release.

Forward-Looking Statements

This news release contains forward-looking statements and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this internal announcement are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include the failure to satisfy the conditions of the relevant securities exchange(s) and other risks detailed from time to time in the filings made by the Company with securities regulators. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this internal announcement are expressly qualified by this cautionary statement. The forward-looking statements contained in this internal announcement are made as of the date of this internal announcement and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.

SOURCE: Global Helium Corp.

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https://www.accesswire.com/666977/Global-Helium-Corp-Announces-Completion-of-5-Million-Non-Brokered-Private-Placement

FAQ

What was the purpose of Global Helium's $5 million private placement?

The funds from the placement will be used for seismic evaluations, drilling prospects, and general working capital.

When did Global Helium Corp. announce its private placement?

The announcement was made on October 6, 2021.

What is the stock symbol for Global Helium?

The stock symbols are CSE:HECO and OTC PINK:HECOF.

What are the terms of the warrants issued in the private placement?

Each warrant allows the purchase of an additional share at $1.00 for two years.

How many units were issued in the $5 million private placement?

A total of 7,774,820 units were issued.