2022-12-22 | TSKSV:HELI | Announcement | Daily News Byte

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TSKSV: HELI OTCKKS: FHELF FRA: 2MC

/NOT FOR DISTRIBUTION UNTIL AMERICA NEWS OR DISTRIBUTION SERVICES IN UNITED STATES./

CALGARY, AB, December 22, 2022/CNV/ – First Helium Inc. (“First Helium” or the “Company”) (TSXV: HELI) (OTCKKS: FHELF)(FRA: 2MC), announced today closure financing of private placements without mediation (“A bid”) discovered on November 30, 2022. First Helium issued 12,192,000 units (“Units”) at a price of $0.20 per unit for a gross income of $2,438,400. All monetary figures in Canadian dollars.

First Helium Inc.  (TSXV: HELI) (CNV Group/First Helium Inc.)

Each unit will consist of one common share (“Publish“) in the capital of First Helium and one non-transferable common stock purchase order (each entire common stock purchase order is “Account“). Each Warrant will be usable for the acquisition of one share at a price of $0.30 per share for a period of 24 months until expiration December 22, 2024. The Warrants will be subject to acceleration at the Company’s election in the event that the Common Shares trade on the TSX Venture Exchange at a weighted average price of $0.40 or more per Common Share for any period of at least ten consecutive trading days after the initial Closing Date, the Company shall have the right to accelerate the expiration time of the Warrants to a date that is at least thirty days after the date on which notice of such acceleration is given by press release by the Company, with the new expiration time specified in such notice.

First Helium intends to use the net proceeds from the Private Placement to work on its portfolio of projects in addition to financing working capital and general corporate expenses.

All securities issued within this placement are subject to TSKSV and regulatory legends on securities that expire April 23, 2023. Inventors’ fees of $52,990 and 264,950 warrants were issued to various finders as part of the placement. Orders for finders have the same conditions as orders issued to subscribers within the Placement.

Certain insiders of First Helium acquired a total of 2,025,000 units in the Overwhelming Offering. Any insider participation in the Offer constitutes a “related party transaction” as defined in Multilateral Instrument 61-101 Protection of minority security holders in special transactions (“MI 61-101”). However, the Company expects that such insider participation is exempt from the formal valuation and minority shareholder approval requirements under MI 61-101 because the fair market value of the Units subscribed by the insiders, nor the consideration for the Units paid by such insiders, would not exceed 25% of the market capitalization Societies. There are no material facts or material changes regarding the Company that have not been generally disclosed.

ABOUT THE FIRST HELIUM

Led by a core senior executive team with diverse and extensive experience in oil and gas exploration and operations, mining, finance and capital markets, First Helium strives to be one of the leading independent helium gas suppliers in North America.

Building on the successful discovery of 15-25 helium in the well Worsley project, the Company has identified numerous locations for follow-up drilling and acquired an expansive infrastructure system to facilitate future exploration and development of helium throughout Worsley land base. Cash flow from its successful oil wells in the Worsley will help support First Helium’s ongoing helium research and development strategy.

First Helium holds over 60,000 hectares along the highly prospective Worsley trend in the Northern Alberta, and 276,000 hectares in the southern Alberta Helium Fairway, adjacent to existing helium production. In addition to continuing its ongoing exploration and development drilling at WorsleyThe company has identified a number of high impact helium exploration targets on potential helium road lands in Southern Alberta to establish another key growth area for the company.

For more information about the Company, visit www.firsthelium.com.

ON BEHALF OF THE BOARD OF DIRECTORS

Edward J. Bereznički

President, CEO and Director

Neither TSKS Venture Exchange nor its regulation service provider (as that term is defined in TSKS policies) accepts responsibility for the adequacy or accuracy of this publication.

FORWARD-LOOKING AND CAUTIONARY STATEMENTS

This press release contains certain statements or disclosures about First Helium that are based on the expectations of its management, as well as assumptions and information currently available to First Helium that may constitute forward-looking statements or information (“forward-looking statements ” ) under applicable securities laws. All such statements and disclosures, other than those of historical fact, relating to activities, events, outcomes, results or developments that First Helium anticipates or expects to occur in the future (in whole or in part) should be considered forward-looking. statements. In some cases, forward-looking statements can be identified by the use of the words “expect,” “will” and similar expressions. In particular, but without limiting the foregoing, this release contains forward-looking statements relating to the timing and nature of future activities at 15-25, 14-23 and the water disposal well; development of facilities; seismic acquisition; conclusion of marketing arrangements for sales; use of assets and strategies of the Company. Forward-looking statements contained in this press release reflect several material factors and First Helium’s expectations and assumptions including, without limitation: that First Helium will continue to conduct its operations in a manner consistent with past operations; general continuation of current or, where applicable, assumed industry conditions; the availability of debt and/or equity sources to finance First Helium’s capital and operating needs as needed; and certain cost assumptions.

Forward-looking statements are based on management’s estimates and opinions as of the date the statements are made and are subject to risks, uncertainties and assumptions, including those set forth in the Final Prospectus as of the date June 28, 2021 and filed under the Company’s profile on SEDAR at www.sedar.com. Readers are cautioned that actual results may differ materially from the forward-looking statements made in this press release. Risks that could cause actual events or results to differ materially from those projected in the forward-looking statements include, but are not limited to, risks associated with the oil and gas industry; First Helium’s ability to finance the capital and operating expenses necessary to achieve its business objectives; the impact of the COVID-19 pandemic on First Helium’s business and operations; state of financial markets; increased costs and physical risks related to climate change; the loss of key employees and those risks described in the Final Prospectus as of the date June 28, 2021. First Helium undertakes no obligation to update forward-looking statements, except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.

SOURCE First Helium Inc.

Cision View original content for multimedia download: http://www.nevsvire.ca/en/releases/archive/December2022/22/c3122.html

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