The shareholders of Imperial Helium Corp. approve plan of arrangement with Royal Helium Ltd.

SASKATOON, Sask., July 12, 2022 /CNW/ – Royal Helium Ltd (“Royal“or the”Company“) (TSXV: RHC) (TSXV: RHC.WT) (OTCQB: RHCCF) is pleased to announce that Imperial Helium Ltd. (“Imperial“) received overwhelming approval from its common stock and preferred stockholders at Imperial’s special meeting (the “Meeting“) held today to consider the previously announced acquisition of Imperial by Royal by way of a statutory plan of arrangement (the “Arrangement“) under the Business Corporations Act (British Columbia) (the “BCBCA“).

Royal Helium Ltd logo. (CNW Group/Royal Helium Ltd.)

Imperial will now seek a final order from the British Columbia Supreme Court under section 291 of the BCBCA, and if such a final order is obtained, the acquisition is expected to close later in July. Pursuant to the Arrangement, Royal will acquire all of the issued and outstanding common shares of Imperial in exchange for 0.614 common shares of Royal for each Imperial share outstanding. Shortly after completion of the Arrangement, Imperial’s common shares will be delisted from the TSX Venture Exchange and Royal also intends to apply to the applicable securities authorities for an order declaring that Imperial will no longer be a reporting issuer in each of its reporting jurisdictions.

Of the votes cast by Imperial shareholders at the Meeting, 86.7% voted in favor of the special resolution approving the Arrangement. At the meeting, 35.75% of the total issued and outstanding common shares and preferred shares of Imperial were voted.

Andre DavidsonPresident and Chief Executive Officer, said, “The addition of Imperial Oil and its Steveville and Steveville East assets to Royal’s extensive pipeline of helium properties projects in Saskatchewan is very opportunistic for Royal Helium. With the current helium price spike, Royal will bring the two Steveville wells and Royal’s Climax wells into production as soon as possible. Two separate processing facilities for Saskatchewan and alberta will be commissioned with delivery and completion scheduled for the first quarter of next year. We are delighted that we were able to complete this transaction at such an opportune time and that Imperial shareholders saw the tremendous value in Royal’s leadership, assets and business plan. »

Details of the Arrangement and certain other matters are set forth in Imperial’s management information circular dated June 10, 2022 (there “Information circularA copy of the information circular and other meeting materials can be found on Imperial’s SEDAR website at www.sedar.com.

About Royal Helium Ltd.

Royal controls over 1,000,000 acres of potential helium land in the South West and South East Saskatchewan. All of Royal’s lands are close to highways, roads, towns and, most importantly, close to existing oil and gas infrastructure, with a significant portion of its lands near existing helium production sites. With stable and rising prices and limited, non-renewable sources of helium around the world, Royal intends to become one of North America’s leading producers of this high-value product.

CAUTION REGARDING FORWARD-LOOKING INFORMATION

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.

This press release contains certain statements that may be considered forward-looking statements or forward-looking information under applicable Canadian securities laws (collectively, “forward-looking statements”) that may not be based on historical facts, including including, without limitation, statements containing the words “believe”, “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “s ‘expect’, ‘potential’ and similar expressions. Forward-looking statements are necessarily based on estimates and assumptions made by the management of the Company in light of our experience and our perception of historical trends, current conditions and expected future developments, and such factors as we believe to be appropriate. .

All statements contained in this press release, other than statements of historical facts, which address events or developments expected by the management of the Company, are forward-looking statements. Forward-looking statements include, but are not limited to, statements relating to: the issuance of the final order by the Supreme Court of British Columbia and the closing of the Imperial acquisition.

Although management believes that the expectations expressed in these forward-looking statements are based on reasonable assumptions, these statements are not guarantees of future performance, and actual results or developments may differ materially from those contained 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 the forward-looking statements include market prices, exploration and development success, the continued availability of capital and financing, and general economic conditions. , market or business. Please see the Company’s public filings at www.sedar.com for more information.

SOURCE Royal Helium Ltd.

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