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SASKATOON, SK, June 25, 2020 /CNW/ - Royal Helium Ltd., ("Royal"
or the "Company") (TSXV: RHC) announces that, due to demand, it has
increased the size of its non-brokered private placement announced
on June 15, 2020, to a maximum of
20,000,000 units (the "Units") for gross proceeds of $1,000,000. Priced at $0.05, each Unit of the offering consists one
common share and one common share purchase warrant, with each
warrant entitling the holder to acquire one common share at
$0.07 for a period of 12 months
following the closing of the offering.
The increased proceeds of the offering will accelerate the
exploration programs planned on its southern Saskatchewan helium land package, as it stages
several targets towards drilling. Royal further confirms that
there is no undisclosed material information and that company
management and insiders account for approximately 8% of the
expanded offering.
Mr. Andrew Davidson, President
and CEO of Royal states "We are pleased with the support that Royal
is receiving in this financing. The increase in the total
will allow Royal to repeat its recently completed technical
programs on its asset base in the south central region of
Saskatchewan".
Royal Helium Ltd.
Royal has approximately 400,000 hectares of prospective helium
land in south western and south-central Saskatchewan, held as permits, leases and
pending permits. All of Royal's lands are in close proximity to
highways, roads, cities and importantly, close to existing oil and
gas infrastructure, with a significant portion of its land in close
proximity to existing helium producing locations. With stable,
rising prices and limited, non-renewable sources for helium
worldwide, Royal intends to become a leading North American
producer of this high value commodity.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
INFORMATION
Neither 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.
This release includes certain statements that may be deemed
to be "forward-looking statements". All statements in this
release, other than statements of historical facts, that address
events or developments that management of the Company expects, are
forward-looking statements. Although management believes the
expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of
future performance, and actual results or developments may differ
materially from those in the forward-looking statements. The
Company undertakes no obligation to update these forward-looking
statements if management's beliefs, estimates or opinions, or other
factors, should change. Factors that could cause actual
results to differ materially from those in forward-looking
statements, include market prices, exploration and development
successes, continued availability of capital and financing, and
general economic, market or business conditions. Please see
the public filings of the Company at www.sedar.com for further
information.
SOURCE Royal Helium Ltd.