It’s one of the largest helium leaseholders in Canada, and Saskatcoon-based Royal Helium Ltd. (TSX-Venture:RHC) announced Thursday a non-brokered private placement offering of up to 30,000,000 shares of the Company at $0.01 per share for gross proceeds of up to $300,000. Proceeds will be used to finance 2019 exploration programs and for general working capital.
The only question now is the pricing of the offering, influenced by the last trading price on the Venture Exchange before the announcement was made. The offering is subject to regulatory approval.
The price toward the end of RHC’s trading day was two cents, up half a cent, or 33.3% from Wednesday’s close. Volume totaled 60,000 shares.
