Helium Evolution Incorporated has closed its previously announced private placement financing, raising gross proceeds of $25 million through the issuance of 166,666,667 units at a price of $0.15 per unit. The transaction brings substantial new capital into the company and reshapes its register with the introduction of major international participants.

Each unit consists of one common share and one common share purchase warrant. The warrants allow holders to acquire an additional common share at a price of $0.30 for a period of three years, subject to an acceleration feature if the volume-weighted average trading price reaches or exceeds $0.50 for 30 consecutive trading days.

The financing attracted three new international investors—Henry Maxey, Tough Investments Limited, and Alan Howard—who each subscribed for 49,310,000 units for an aggregate consideration of $7,396,500. Each party now holds approximately 15.0% of the company's issued and outstanding common shares on a non-diluted basis. In connection with the investment, Mr. Maxey secured the right to appoint a nominee to the board of directors, and all three major subscribers entered into pro rata participation agreements enabling them to maintain their percentage holdings, provided each maintains at least a 10% stake.

The net proceeds from the financing will be deployed to accelerate exploration and development activities across Helium Evolution's Saskatchewan helium assets, advance future drilling and infrastructure initiatives, and fund general corporate purposes. These planned operational expansions follow the company's completion of an approximate 170-square-kilometer 3D seismic program across its Mankota and Grasslands core area in April 2026, executed in partnership with North American Helium Incorporated.

In connection with the placement, Helium Evolution paid a cash fee of $1,184,475 and issued 6,317,200 finder's warrants to Auctus Advisors LLP. All securities issued under the financing are subject to a four-month hold period.

Helium Evolution shares closed at $0.24, rising 11.63% on the day of the announcement.

Read the full announcement: UPDATE -- Helium Evolution Closes $25 Million Private Placement