Royal Helium Ltd. Cancels Previously Announced Private Placement, Announces Board Changes

Source: www.gulfoilandgas.com 1/24/2025, Location: North America

Royal Helium Ltd. ("Royal") announces that Royal and its subsidiaries, Royal Helium Exploration Limited and Imperial Helium Corp. (together with Royal, the "Company"), have cancelled the previously announced proposed private placement offering of debenture units of the Company previously announced on December 2, 2024 (the "Private Placement").

On January 20, 2025, the Company announced its notice of intention to make a proposal under the Bankruptcy and Insolvency Act (the "BIA"). The Company had previously been pursuing an out-of-court restructuring solution. However, following review of all financing options and careful consideration of all available alternatives, and consultation with legal and financial advisors, the directors of the Company determined that it was in the best interests of the Company and its stakeholders to file for protection under the BIA and to cancel the previously announced proposed Private Placement offering.

All tenders delivered by holders of existing Company debentures (the "Existing Debentureholders", being the 14% convertible debentures due December 31, 2025 and the 12% convertible debentures due June 30, 2025, and collectively referred to herein as the "Existing Debentures") who opted to partake in the optional forfeiture of their Existing Debentures in exchange for the issuance of the new debenture units upon closing of the Private Placement equal to the then-outstanding principal amount of such Existing Debentureholder's forfeited Existing Debentures shall continue to hold their Existing Debentures in accordance with their existing terms and all tendered consent forms shall be null and void.

The Company also announces that it has accepted Karl Kurz's resignation from the board with immediate effect. The Company's CEO commented "We are incredibly grateful for the contributions Karl made during his tenure on our board. Karl is undoubtedly one of the most accomplished professionals in the resource space, and it has been a privilege to have someone of his caliber involved with the Company. We wish him nothing but success in his future endeavors."


Canada >>  2/10/2025 - Primary Hydrogen Corp. (the "Company" or "Primary"), a leading junior exploration company focused on unlocking the potential of natural hydrogen resou...
Canada >>  2/10/2025 - North Peak Resources Ltd. (the "Company" or "North Peak") announces the appointment of Rupert Williams as Chief Executive Officer and as a director of...

Canada >>  2/10/2025 - PureSky Energy (PureSky), a leader in sustainable energy solutions and independent power producer, is pleased to announce the appointment of Rami Khad...
Canada >>  2/10/2025 - VanadiumCorp Resource Inc. ("VanadiumCorp" or the "Company")is pleased to announce the appointment of Mr. Brian Gusko, BA, MBA, as an Independent Dire...

Canada >>  2/10/2025 - NOVA Chemicals Corporation ("NOVA Chemicals") announced the appointment of James "JT" Jones as its new Chief Supply Chain & Procurement Officer, effec...
Mexico >>  2/10/2025 - Following today’s announcement of the retirement of Fernando Gonzalez as CEO of Cemex, and the appointment of Jaime Muguiro as new CEO effective April...




Gulf Oil and Gas
Copyright © 2023 ICT All rights reserved. - Terms of Service - Privacy Policy.