Royal Helium Reports Annual General and Special Meeting Results and Files Preliminary Shelf Prospectus
September 14, 2022
Not for distribution to United States newswire services or for dissemination in the United States
Saskatoon, Saskatchewan, September 14, 2022 – Royal Helium Ltd. (TSXV: RHC) ("Royal" or the "Company") is pleased to announce the results of the Company's annual general and special meeting of shareholders (the "Meeting") which was held today. All matters presented to shareholders for approval as set out in the Company's notice of meeting and management information circular dated September 14, 2022 (the "Circular") were approved by an overwhelming majority of the votes cast for the Meeting. Resolutions approved were to fix the number of directors of the Company at seven, the appointment of KPMG LLP, Chartered Professional Accountants as auditors of Royal, the approval of the Company's stock option plan in accordance with TSX Venture Exchange Policy 4.4 – Security Based Compensation and the approval of amendments to the articles of Royal. The voting results for the election of the directors of the Company were as follows:
|Director||Votes For #||Votes For %||Withheld||Votes Withheld %|
|R. Campbell Becher||25,460,444||99.28||183,988||0.73|
|Samuel Kyler Hardy||25,148,029||98.06||496,403||1.96|
Voting results for the other items of business at the Meeting, all as more particular described in the Circular, were as follows:
|Votes For #||Votes For %||Against||Votes Against %|
|Fixing Number of Directors at Seven||25,544,129||99.61||100,303||0.40|
|Approval of Stock Option Plan||24,051,951||93.79||1,592,481||6.30|
|Amendment to the Company's Articles||24,506,938||99.44||137,494||0.54|
|Votes For #||Votes For %||Withheld||Votes Withheld %|
|Appointment of Auditors||27,697,622||99.75||70,497||0.26|
Andrew Davidson, President and Chief Executive Officer of Royal comments, "We would like to thank the shareholders for their overwhelming support at today's Meeting. We look forward to an exciting year ahead as we transition from a helium exploration company to a truly integrated helium exploration, production and sales company."
Filing of Shelf Prospectus
Royal announces that it has filed a preliminary short form base shelf prospectus with the securities regulatory authorities in each of the provinces of Canada, except the Province of Québec.
The shelf prospectus will, subject to regulatory requirements and approval, provide for the potential offering in Canada of up to an aggregate of CAD$200 million of Royal's common shares, debt securities, subscription receipts and units from time to time over a 25-month period after applicable Canadian securities regulatory authorities have issued a receipt for the final short form base shelf prospectus.
The shelf prospectus is being filed to provide Royal the flexibility to take advantage of financing opportunities from time to time and as market conditions dictate. The terms of such future offerings, if any, will be established at the time of such offerings. At the time any of the securities covered by the shelf prospectus are offered for sale, a prospectus supplement containing specific information about the terms of any such offering will be filed with applicable Canadian securities regulatory authorities and is also subject to TSX Venture Exchange review and acceptance.
About Royal Helium Ltd.
Royal controls over 1,000,000 acres of prospective helium land across southern Saskatchewan and southeastern Alberta. All of Royal's lands are in close vicinity to highways, roads, cities and importantly, close to existing oil and gas infrastructure, with a significant portion of its land in close proximity to existing helium producing locations. With stable, rising prices and limited, non-renewable sources for helium worldwide, Royal intends to become a leading North American producer of this high value commodity. Royal's helium reservoirs are carried primarily with nitrogen. Nitrogen is not considered a greenhouse gas ("GHG") and therefore has a low GHG footprint when compared to other jurisdictions that rely on large scale natural gas production for helium extraction. Helium extracted from wells in Saskatchewan and Alberta can be up to 99% less carbon intensive than helium extraction processes in other jurisdictions.
For more information, please contact the Company.
President and Chief Executive Officer
Royal Helium Ltd.
1 (306) 653-2692
Manager of Corporate Development
Royal Helium Ltd.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Neither 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 news release includes certain statements that may be deemed to be "forward-looking statements". All statements in this news release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those 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 forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.