Helium Evolution Announces Filing of Second Quarter 2026 Financial Results
Rhea-AI Summary
Helium Evolution (TSXV:HEVI, OTCQB:HEEVF) reported its financial results for the three and six months ended June 30, 2026, including a Q2 2026 net loss of $717,000 versus $196,000 a year earlier, and a six‑month net loss of $1.151 million versus $871,000 in 2025.
According to Helium Evolution, cash and cash equivalents were $2.002 million, working capital was $2.037 million, total assets were $19.468 million, and total liabilities were $1.387 million. On August 24, 2026, the company closed a $25 million gross private placement, including $23.7 million from new international investors, to fund Saskatchewan helium exploration, drilling, infrastructure and general corporate purposes.
Positive
- $25 million gross private placement closed August 24, 2026
- New international investors contributed $23.7 million to the financing
- Cash and cash equivalents increased to $2.002 million from $1.323 million year over year
- Working capital rose to $2.037 million from $1.104 million year over year
- Total assets grew to $19.468 million from $14.091 million year over year
Negative
- Q2 2026 net loss increased to $717,000 from $196,000 year over year
- Six‑month 2026 net loss rose to $1.151 million from $871,000 year over year
- Total liabilities more than doubled to $1.387 million from $666,000 year over year
News Explained
The interim filing adds ownership context: weighted-average basic and diluted common shares were
AI-generated analysis. How Rhea-AI works. Not financial advice.
CALGARY, Alberta, Aug. 25, 2026 (GLOBE NEWSWIRE) -- Helium Evolution Incorporated (TSXV:HEVI, OTCQB:HEEVF) ("HEVI" or the "Company"), a Canadian-based helium exploration company focused on developing assets in southern Saskatchewan, today announced the filing of the Company’s financial statements and associated management’s discussion and analysis for the three and six months ended June 30, 2026 (the “Interim Report”).
Complete details of the Interim Report are available on SEDAR+ at www.sedarplus.ca, and on HEVI’s website.
Three and Six Months Ended June 30, 2026 Highlights
Three months ended | Six months ended | |||
| Tabular amounts in thousands of Canadian Dollars, except share and per share amounts | June 30, 2026 | June 30, 2025 | June 30, 2026 | June 30, 2025 |
| Financial | ||||
| Net loss | 717 | 196 | 1,151 | 871 |
| Net loss per share, basic and diluted | 0.00 | 0.00 | 0.01 | 0.01 |
| Cash and cash equivalents | 2,002 | 1,323 | 2,002 | 1,323 |
| Working capital | 2,037 | 1,104 | 2,037 | 1,104 |
| Total assets | 19,468 | 14,091 | 19,468 | 14,091 |
| Total liabilities | 1,387 | 666 | 1,387 | 666 |
| Weighted average shares outstanding | ||||
| Basic and diluted1 | 163,013,796 | 115,525,292 | 163,013,796 | 106,378,007 |
1The weighted average number of common shares outstanding is not increased for outstanding stock options and warrants when the effect is anti-dilutive.
On August 24, 2026, the Company closed a
“The Company would like to thank all of our shareholders, investors and other stakeholders for their continued support,” said Malcolm Adams, President and CEO of HEVI. “The completion of our
“We are now focused on executing our near-term plans, including advancing drilling and permitting activities across our most prospective Saskatchewan assets. We believe HEVI is well positioned to build on the progress achieved to date and advance toward helium production.”
Stay Connected to Helium Evolution
Shareholders and other parties interested in learning more about the Helium Evolution opportunity are encouraged to visit the Company’s website, which includes an updated corporate presentation, and are invited to follow the Company on LinkedIn and X for ongoing corporate updates and helium industry information.
About Helium Evolution Incorporated
Helium Evolution is a Canadian-based helium exploration company focused on developing assets in southern Saskatchewan. The Company has over five million acres of land under permit near proven discoveries of economic helium concentrations which will support scaling the exploration and development efforts across its land base. HEVI’s management and board are executing a differentiated strategy to become a leading supplier of sustainably-produced helium for the growing global helium market.
For further information, please contact:
| Malcolm Adams, President & CEO Kristi Kunec, CFO | Phone: 1-587-330-2459 Email: info@heliumevolution.ca Web: https://www.heliumevolution.ca/ |
Statement Regarding Forward-Looking Information
This news release contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.
Forward-looking statements in this document include statements regarding the Company’s expectations regarding the use of proceeds from the August 2026 Financing; the Company’s exploration and development plans; anticipated drilling, permitting and infrastructure activities; the advancement of the Company’s Saskatchewan helium assets toward production; the expected benefits of the Company’s updated land tenure arrangements; and the Company’s ability to execute its development strategy the Company’s belief regarding becoming a key player in the Canadian helium industry, the importance of North American helium supply, the Company's beliefs regarding growth of the global helium market and other statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: the Company may be unsuccessful in drilling commercially productive wells; the Company may abandon its exploration and development plans; geological and technical uncertainties; delays in obtaining regulatory approvals; changes in government policies or land tenure requirements; financing and liquidity risks; changes in commodity prices; availability and cost of equipment, services and personnel; operational risks; commodity price and exchange rate fluctuations; adverse weather or break-up conditions; and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures.
When relying on forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and risks other uncertainties and potential events. The Company has assumed that the material factors referred to in the previous paragraphs will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. 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 news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
