Helium Evolution Incorporated has closed a $25 million private placement, issuing 166,666,667 units at $0.15 each. Each unit comprises one common share and one warrant exercisable at $0.30 for three years from the August 24, 2026 closing date.
New international investors subscribed for $23.7 million, while existing insiders contributed $230,000 alongside other investors. Three investors—Henry Maxey, Tough Investments Limited, and Alan Howard—each acquired 49,310,000 units for $7,396,500, securing approximately 15% of the company’s outstanding common shares on a non-diluted basis. None held securities in Helium Evolution prior to the financing.
Auctus Advisors LLP received 6,317,200 finder’s warrants and a $1.18 million cash fee for arranging the placement. The finder’s warrants include an acceleration feature triggered if the volume-weighted average trading price reaches or exceeds $0.50 per share for 30 consecutive trading days. Certain warrants issued to new insiders contain a blocker clause to prevent exercises that would create a new control person under TSX Venture Exchange policies.
All securities are subject to a four-month hold period under applicable securities laws. Helium Evolution entered into pro rata participation and board nomination agreements with Maxey, Howard, and Tough Investments. Maxey retains the right to appoint a board nominee as long as he holds at least 10% of the common shares.
Net proceeds will fund exploration and development of the company’s Saskatchewan helium assets, drilling and infrastructure initiatives, and general corporate purposes.
