Royal Helium Ltd. (TSE:RHC) has released an update.
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Royal Helium Ltd. has successfully completed a $6 million bought deal public offering, issuing 66.67 million units at $0.09 each, which includes a common share and a warrant. The net proceeds are earmarked for high-impact drilling projects, development of the Saskatchewan helium corridor, and for general corporate purposes. This financial move involves insider participation deemed a ‘related party transaction’, exempt from certain formalities as it falls below 25% of the company’s market capitalization.
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