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Total Helium Completes Acquisition of Joint Venture Interest in Helium Project and Private Placement Financing


On May 1, 2023, Total Helium Ltd. completed the acquisition of a joint venture interest in the Pinta South Helium Project in Arizona. Pursuant to the terms of the transaction, Total Helium acquired a 20% interest in 2 producing wells and a 50% interest in eight additional existing wells for a total purchase price of US$12 million. The purchase agreement was entered into between Brooks Range Corporation, a wholly owned subsidiary of Total Helium, Pinta South Operating Company, LLC, Butler Minerals I, LLC and Mid America Exploration LLC.

Total Helium has completed a brokered private placement led by Haywood Securities Inc, to satisfy the cash portion of the purchase price, the capital development program for the Pinta South Project, and costs associated with completion of the transaction. Total Helium issued 25,000,000 special warrants at a price of $0.50 per special warrant for gross proceeds of $12.5 million.

Cassels acted for Total Helium.

RELATED EXPERTISE: Securities | Taxation