Helium Evolution Incorporated (TSXV:HEVI)
("
HEVI" or the "
Company"), a
Canadian-based helium exploration and production company focused on
finding, developing and commercializing assets in southern
Saskatchewan, is pleased to provide a corporate update that
outlines the upcoming milestones and catalysts anticipated through
the balance of the year, including those related to our Amended and
Restated Farmout Agreement (the “
Farmout
Agreement”), seismic option agreement (the
"
Seismic Option Agreement”) and the seismic review
option agreement (the “
Seismic Review Option
Agreement”), (collectively, the
“
Agreements”) with North American Helium
(“
NAH”), announced October 21, 2022.
“As HEVI continues to map out the upcoming
operational milestones coming up through the balance of 2023, we
have been able to maintain a strong cash and liquid asset base,”
said Greg Robb, CEO of HEVI. “Our numerous operational milestones
related to drilling and seismic/shooting review activities by NAH
are expected to support a steady stream of updates. The HEVI team
has also been working hard to develop new prospects on our 100%
working interest land, having recently acquired approximately
1,000km of 2D seismic trade data over our exploration acreage in
the last six months. We remain excited about the prospect of
realizing a commercial helium development on our expansive land
base and continuing to benefit from our mutually beneficial farmout
with NAH.”
Farmout Agreement with NAH Continues to
Progress
The key operational dates and catalysts
pertaining to the Agreements with NAH are presented below, with
certain future events predicated on past decisions as indicated.
NAH currently has committed to a minimum of five, and up to eight
potential wells that can be drilled and will be fully funded by
NAH, along with the shooting and review of additional seismic data.
These milestones and catalysts are supplemented by HEVI’s internal
activities related to exploration of the Company’s 100% working
interest lands, financial reporting and other corporate
updates.
HEVI Milestones and Catalysts Through 2023 and
Mid-2024
The map below should be reviewed in concert with
the table above and provides a visual characterization of the
working areas and position of each block of land and referenced
area.
Details on Lobbying Activities for
Flow-through Share Financing
HEVI and other helium developers, through a
third-party, have been actively lobbying the Canadian Government to
have helium be eligible under the Critical Mineral Exploration Tax
Credit (the “CMETC”) and thereby helium be
included as a resource eligible for flow-through share financing
(“Flow-through”). A Flow-through share is a type
of common share that permits the initial purchaser to claim a tax
deduction for a portion of the amount invested, positioning
companies who produce the eligible resources more attractive to
investors.
Additionally, HEVI is aware that other third
parties, such as PearTree Financial Services Ltd., have made
similar submissions to the Canadian Government recommending that
all 31 critical minerals identified by Natural Resources Canada,
including helium, be eligible products under the CMETC and eligible
for Flow-through. This is supported by the fact that all critical
minerals are essential to Canada’s economic and national security,
and required for Canada’s transition to a low-carbon economy.
A decision on the matter is expected to be
included in the April 2023 Federal Government Budget.
HEVI to Attend the 2023 North American
Helium Conference
Greg Robb, CEO, and Pat Mills, COO, will be
attending the 2023 North American Helium Conference in Denver,
Colorado from March 22-23, 2023, to network, engage with
stakeholders and peers, and hear more than 40 presentations
covering all the latest industry trends and insights, including
exploration methods, reservoir characteristics, markets,
regulation, financing and more. Additional information on the
conference, including a list of companies attending, can be found
here.
2022 Financial and Operating Results to
be Released
HEVI expects to release and file its 2022 full
year financial and operating results on or around April 25, 2023.
The news release and associated documents will be available on the
Company’s SEDAR profile and its website at heliumevolution.ca.
About Helium Evolution
Incorporated
HEVI is a Canadian-based helium exploration and
production company holding the largest helium land rights position
in North America among publicly-traded companies, focused on
developing assets in southern Saskatchewan. The Company has over
five million acres of land under permit near proven discoveries of
economic helium concentrations which will support scaling the
exploration and development efforts across its land base. HEVI’s
management and board are executing a differentiated strategy to
become a leading supplier of sustainably-produced helium for the
growing global helium market, offering a compelling opportunity for
investors.
For further information, please
contact:
Greg Robb, President & CEOKristi Kunec, CFO |
Phone:
1-587-330-2459Email: info@heliumevolution.caWeb: https://www.heliumevolution.ca/ |
|
|
Cindy Gray, Investor
Relations |
info@5qir.com |
403-705-5076 |
Statement Regarding Forward-Looking
Information
This news release contains statements that
constitute "forward-looking statements." Such forward looking
statements involve known and unknown risks, uncertainties and other
factors that may cause actual results, performance or achievements,
or developments in the industry to differ materially from the
anticipated results, performance or achievements expressed or
implied by such forward-looking statements. Forward looking
statements are statements that are not historical facts and are
generally, but not always, identified by the words "expects,"
"plans," "anticipates," "believes," "intends," "estimates,"
"projects," "potential" and similar expressions, or that events or
conditions "will," "would," "may," "could" or "should" occur.
Forward-looking statements in this document
include statements regarding the Company's expectations regarding
the Company's exploration plans, expected updates regarding the
Company's activities, arrangements with NAH pursuant to the
Agreements, timing and content of the April 2023 Federal Government
Budget, attendance and activities at the North American Helium
Conference, success and timing of drilling and exploration wells,
NAH elections under the Seismic Option Agreement and the Seismic
Review Option Agreement, timing of the release of 2022 financial
and operating results and other statements that are not historical
facts. By their nature, forward-looking statements involve known
and unknown risks, uncertainties and other factors which may cause
our actual results, performance or achievements, or other future
events, to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements. Such factors and risks include, among
others: the Company may choose to defer, accelerate or abandon its
exploration plans; the Company and NAH may determine to amend the
farmout agreement; new laws or regulations, or the failure of
governments to adopt new laws or regulations, and/or unforeseen
events could adversely affect the Company’s business and results of
operations; stock markets have experienced volatility that often
has been unrelated to the performance of companies and such
volatility may adversely affect the price of the Company's
securities regardless of its operating performance risks generally
associated with the exploration for and production of resources;
the uncertainty of estimates and projections relating to expenses;
constraint in the availability of services; commodity price and
exchange rate fluctuations; the current COVID-19 pandemic; adverse
weather or break-up conditions; and uncertainties resulting from
potential delays or changes in plans with respect to exploration or
development projects or capital expenditures.
When relying on forward-looking statements and
information to make decisions, investors and others should
carefully consider the foregoing factors and risks and other
uncertainties and potential events. The Company has assumed that
the material factors referred to in the previous paragraphs will
not cause such forward-looking statements and information to differ
materially from actual results or events. However, the list of
these factors is not exhaustive and is subject to change and there
can be no assurance that such assumptions will reflect the actual
outcome of such items or factors. The reader is cautioned not to
place undue reliance on any forward-looking information. Such
information, although considered reasonable by management at the
time of preparation, may prove to be incorrect and actual results
may differ materially from those anticipated. Forward-looking
statements contained in this press release are expressly qualified
by this cautionary statement. The forward-looking statements
contained in this press release are made as of the date of this
press release. The Company does not intend, and expressly disclaims
any intention or obligation to, update or revise any
forward-looking statements whether as a result of new information,
future events or otherwise, except as required by law.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
Infographics accompanying this announcement are
available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/6fa4d17e-f18e-468d-88ef-4bb512f18ee0
https://www.globenewswire.com/NewsRoom/AttachmentNg/59389872-56cb-4ceb-8e7d-9964ecd18318
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