Royal Helium private placement, warrant listing
2023-11-15 16:59 ET - Private Placement
The TSX Venture Exchange has accepted for filing documentation with respect to a brokered private placement announced on Nov. 7, 2023, and Nov. 8, 2023.
Private placement -- first tranche
Number of shares: 18.75 million units
Purchase price: 24 cents per unit
Warrants: 18.75 million share purchase warrants to purchase 18.75 million shares
Warrant exercise price: 31 cents for a three-year period
Number of placees: 76 placees
Total existing insider involvement: 820,833 (five insiders)
Finder's fee: $245,970 cash and 1.05 million warrants
Finder's warrant terms: Each finder's warrant (non-transferable) entitles the holder to purchase one unit at 24 cents per unit. Each unit consists of one common share and one share purchase warrant. Each share purchase warrant entitles the holder to purchase one common share at 31 cents per share for a period of three years.
The company issued a news release on Nov. 14, 2023, confirming the closing of the private placement. Note that in certain circumstances the exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.
New listing -- warrants -- first tranche
Effective at the opening, Friday, Nov. 17, 2023, the warrants of the company will commence trading on the TSX Venture Exchange. The company is classified as an oil and gas services company.
Corporate jurisdiction: Saskatchewan
Capitalization: 21,562,500 warrants, authorized by a warrant indenture dated Nov. 14, 2023, of which 18.75 million warrants are issued and outstanding with respect to the first tranche
Warrant exercise price/term: 31 cents per share for three years from the date of issuance
Transfer agent: Computershare Investor Services Inc.
Trading symbol: RHC.WT.A
Cusip No.: 78029U 16 3
Each warrant entitles the holder to purchase one common share of the company at a price of 31 cents per share and will expire at 5 p.m. Saskatoon time on Nov. 14, 2026.
The underlying warrants are governed by the terms and conditions of the warrant indenture dated Nov. 14, 2023, and were issued pursuant to the company's offering document dated Nov. 7, 2023.
For further details, please refer to the company's news releases dated Nov. 7, 2023, Nov. 8, 2023, and Nov. 14, 2023.
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