CALGARY, Alberta--(BUSINESS WIRE)--North American Helium Inc. (“NAH” or the “Company”) today announced the Company recently closed a non-brokered common share equity financing of approximately $127 million. Proceeds from the financing will be used to, among other things, advance the Company’s active exploration and development plan for the 2021/22 drilling season and to bring additional helium production online in 2022.
This current round of financing was led by XM Capital Partners Opportunity Fund LP, a new investor in NAH, with significant participation from existing institutional shareholders.
“I would like to thank our existing shareholders for their continued support and welcome XM Capital Partners as a significant new shareholder. This financing, along with internally generated cash flow, positions us to have maximum flexibility to develop multiple production assets simultaneously, and to support our strategy of building a platform to provide reliable long-term sources of green helium supply in North America.” stated Mr. Nicholas Snyder, Chairman and Chief Executive Officer. Mr. Snyder continued:
“With the increased focus on the sustainability and reliability of supply chains globally, our company is uniquely positioned to help ensure that there will be sufficient helium supplies into the future for the rapidly growing space exploration and semiconductor manufacturing industries. In our view, the Government of Saskatchewan continues to recognize the importance of...
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