Helium Evolution Incorporated (TSXV: HEVI, OTCQB: HEEVF) said it closed a $25 million private placement on August 24, 2026, through the issuance of 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 closing.
The offering drew $23.7 million from new international investors and $230,000 from existing insiders, alongside contributions from other participants. Three investors—Henry Maxey of London, Tough Investments Limited of Jersey, and Alan Howard of London—each acquired 49,310,000 units for $7,396,500, collectively representing approximately 15% of outstanding common shares on a non-diluted basis. None of these investors held securities in the company prior to the financing.
Finder’s fees totaled $1,184,475 in cash, with 6,317,200 finder’s warrants issued to Auctus Advisors LLP. Warrants include an acceleration feature triggered if the volume-weighted average trading price reaches or exceeds $0.50 per common share for 30 consecutive trading days.
Securities issued are subject to a four-month hold period under applicable securities laws. Certain insider warrants include a blocker clause to prevent exercises that would create a new control person, aligning with TSX Venture Exchange policies. Pro rata participation and board nomination agreements were established with Maxey, Howard, and Tough Investments Limited, with Maxey retaining the right to appoint a board nominee while maintaining at least 10% of common shares.
Net proceeds will fund exploration and development across Saskatchewan helium assets, drilling and infrastructure initiatives, and general corporate purposes.
