Royal Helium Ltd. (TSE:RHC) has released an update.
Royal Helium Ltd. is set to raise $6 million through a bought deal offering, in which 66,667,000 units will be sold at $0.09 each to fund ambitious projects including drilling in Alberta and development in Saskatchewan. The deal, expected to close on May 1, 2024, also includes an over-allotment option for the underwriters and plans for warrant listings on the TSX Venture Exchange. The proceeds will primarily support high-impact drilling and other corporate initiatives within the company’s helium operations.
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