Royal Helium (TSE:RHC) has released an update.
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Royal Helium Ltd. has opted to issue over 8.4 million common shares to satisfy interest payments due on its 14% and 12% Senior Unsecured Convertible Debentures, with payments due by July 2, 2024. The shares are priced at $0.078 each, facilitating the company’s obligations under two separate debenture indentures. This strategic move also covers interest for a debentureholder who converted their 12% Debentures on April 1, 2024, with nearly a million additional shares issued for accrued interest.
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