Helium Evolution Announces Filing of Q1-2024 Financial Results

Helium Evolution Announces Filing of Q1-2024 Financial Results

Helium Evolution Incorporated (TSXV:HEVI) (" HEVI " or the " Company "), a Canadian-based helium exploration company focused on developing assets in southern Saskatchewan, today announced the filing of the Company's interim condensed financial statements and associated management's discussion and analysis for the three months ended March 31, 2024 (the " Q1 Report ").

Complete details of the Q1 Report are available on SEDAR+ at www.sedarplus.ca, and on HEVI's website.

Three Months Ended March 31, 2024 Highlights:

Three months ended
Tabular amounts in thousands of
Canadian Dollars, except share and per share amounts
March 31, 2024 March 31, 2023
Financial
Net loss 239 311
Net loss per share, basic and diluted 0.00 0.00
Cash 5,304 8,229
Working capital 4,992 9,226
Total assets 11,293 13,094
Total liabilities 668 356
Weighted average shares outstanding
Basic and diluted 1 96,033,974 96,033,974

1 The weighted average number of common shares outstanding is not increased for outstanding stock options and warrants when the effect is anti-dilutive.

During the three months ended March 31, 2024, HEVI continued to execute on its focused strategy of developing the Company's 5.6 million acres of helium rights in southern Saskatchewan. With three recent helium discoveries and a six to nine well drilling program as announced on April 2, 2024, HEVI has made considerable progress on its ultimate goal of producing and selling helium, generating cash flow and driving positive returns for shareholders. HEVI has remained committed to maintaining ongoing financial flexibility, demonstrated by a positive working capital position of $5.0 million at March 31, 2024, excluding $0.8 million of tubing and casing that was pre-purchased and not utilized.

HEVI wishes to thank all shareholders and stakeholders for their continued support and as always, HEVI is committed to updating the market on significant events and developments as information becomes available.

Stay Connected to Helium Evolution

Shareholders and other parties interested in learning more about the Helium Evolution opportunity are encouraged to visit the Company's website, which includes the Company's current corporate presentation, and are invited to follow the Company on LinkedIn and X for ongoing corporate updates and helium industry information. Helium Evolution also provides an extensive, commissioned ‘deep-dive' research report prepared by a third party whose background includes serving as a research analyst for several bank-owned and independent investment dealers. In addition to recent media articles, HEVI maintains a profile on the Investing News Network platform, where further information, editorial pieces and industry reviews are available.

About Helium Evolution Incorporated

Helium Evolution is a Canadian-based helium exploration company holding the largest helium land rights position in North America among publicly traded companies, focused on developing assets in southern Saskatchewan. The Company has 5.6 million acres of land under permit near proven discoveries of economic helium concentrations which will support scaling the exploration and development efforts across its land base. HEVI's management and board are executing a differentiated strategy to become a leading supplier of sustainably-produced helium for the growing global helium market.

For further information, please contact:

Greg Robb, President & CEO Phone: 1-587-330-2459
Kristi Kunec, CFO Email: info@heliumevolution.ca
Web: https://www.heliumevolution.ca
Cindy Gray, Investor Relations info@5qir.com | 1-403-705-5076

Statement Regarding Forward-Looking Information

This news release contains statements that constitute "forward-looking statements." Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.

Forward-looking statements in this document include statements regarding the Company's expectations regarding the Company's ultimate goal of producing and selling helium, generating cash flow and driving positive returns for shareholders, the Company's expectations regarding scalable helium production from its land generally, the Company's expectations regarding recoverability of helium and development of the three recent helium discoveries, the Company's ability to preserve capital, the drilling ,timeline for and success of any future drills, and other statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: the Company and/or its partner may be unsuccessful in drilling commercially productive wells; the Company and/or its partner may choose to defer, accelerate or abandon its drilling plans; the Company and/or its partner may determine not to bring wells onto production; new laws or regulations and/or unforeseen events could adversely affect the Company's business and results of operations; stock markets have experienced volatility that often has been unrelated to the performance of companies and such volatility may adversely affect the price of the Company's securities regardless of its operating performance; risks generally associated with the exploration for and production of resources; the uncertainty of estimates and projections relating to expenses; constraint in the availability of services; commodity price and exchange rate fluctuations; adverse weather or break- up conditions; and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures.

When relying on forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and risks, other uncertainties and potential events. The Company has assumed that the material factors referred to in the previous paragraphs will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. The forward-looking statements contained in this press release are made as of the date of this press release. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

Neither the 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.


Primary Logo

News Provided by GlobeNewswire via QuoteMedia

HEVI:CA
The Conversation (0)
Helium Evolution (TSXV:HEVI)

Helium Evolution

Unlocking Canada's Untapped Helium Potential

Helium Evolution Announces Filing of Q2 2024 Financial Results and Provides Operations Update

Helium Evolution Announces Filing of Q2 2024 Financial Results and Provides Operations Update

Helium Evolution Incorporated (TSXV:HEVI) (" HEVI " or the " Company "), a Canadian-based helium exploration company focused on developing assets in southern Saskatchewan, announces the filing of the Company's interim condensed financial statements and associated management's discussion and... Keep Reading...
Helium Evolution Provides Operations Update and Announces Amendment of Stock Options

Helium Evolution Provides Operations Update and Announces Amendment of Stock Options

Helium Evolution Incorporated (TSXV:HEVI) (" HEVI " or the " Company "), a Canadian-based helium exploration company focused on developing assets in southern Saskatchewan, is pleased to provide an update regarding its Mankota helium discoveries. The 9-18-3-8W3 well (" 9-18 Well ") stimulation is... Keep Reading...
Helium Evolution Announces Voting Results From Annual General & Special Meeting of Shareholders

Helium Evolution Announces Voting Results From Annual General & Special Meeting of Shareholders

Helium Evolution Incorporated (TSXV:HEVI) (" HEVI " or the " Company "), a Canadian-based helium exploration company focused on developing assets in southern Saskatchewan, is pleased to report that all matters presented for approval at its annual general and special meeting of shareholders held... Keep Reading...
Helium Evolution Announces Filing of Annual 2023 Financial Results and Provides Operations Update

Helium Evolution Announces Filing of Annual 2023 Financial Results and Provides Operations Update

Helium Evolution Incorporated (TSXV:HEVI) (" HEVI " or the " Company "), a Canadian-based helium exploration company focused on developing assets in southern Saskatchewan, today announced the filing of the Company's annual financial statements and associated management's discussion and analysis... Keep Reading...
Helium Evolution Confirms Positive 9-35 Well Results

Helium Evolution Confirms Positive 9-35 Well Results

Helium Evolution Incorporated (TSXV:HEVI) (" HEVI " or the " Company "), a Canadian-based helium exploration company focused on developing assets in southern Saskatchewan, is pleased to provide an update on our helium discovery following the completion of the Deadwood zone and initial testing of... Keep Reading...
Oil pumps and stock market graphs merging in a digital overlay.

Oil and Gas Price Update: Q3 2025 in Review

The oil market struggled in Q3 as prices continued to soften under mounting supply pressure. Following moderate gains in H1, prices contracted to end the third quarter lower than their July 1 start positions. Brent crude began the period at US$67.10 per barrel and finished at US$65.90, a 1.7... Keep Reading...
Alvopetro Announces September 2025 Sales Volumes, Quarterly Natural Gas Price Update, Non-Core Disposition and Western Canadian Expansion

Alvopetro Announces September 2025 Sales Volumes, Quarterly Natural Gas Price Update, Non-Core Disposition and Western Canadian Expansion

Alvopetro Energy Ltd. (TSXV: ALV,OTC:ALVOF) (OTCQX: ALVOF) announces September sales volumes of 2,231 boepd (based on field estimates), our updated quarterly natural gas pricing, the disposition of our Bom Lugar and Mãe da Lua marginal oil fields in Brazil an expansion of our inventory of... Keep Reading...
Gas stove and world map.

Top 10 Countries for Natural Gas Production

Natural gas is an important energy fuel, even as the world transitions to a carbon-free economy. When investing in this industry, it's key to know the ins and outs of natural gas production by country.Global natural gas production edged up 1.2 percent in 2024 to reach 4.12 trillion cubic meters,... Keep Reading...
CHARBONE Hydrogen Announces $2M Convertible Debentures Replacement

CHARBONE Hydrogen Announces $2M Convertible Debentures Replacement

(TheNewswire) Brossard, Quebec, September 18, 2025 TheNewswire Charbone Hydrogen Corporation (TSXV: CH,OTC:CHHYF; OTCQB: CHHYF; FSE: K47) (the "Company" or "CHARBONE ") a company focused on green hydrogen production and distribution is pleased to announce the signature of Replacement Debentures... Keep Reading...
Charbone Hydrogene annonce des debentures convertibles de remplacement de 2M$

Charbone Hydrogene annonce des debentures convertibles de remplacement de 2M$

(TheNewswire) Brossard (Québec), le 18 septembre 2025 - TheNewswire - CORPORATION CHARBONE HYDROGÈNE (TSXV: CH,OTC:CHHYF , OTCQB: CHHYF, FSE: K47 ) (« Charbone » ou la « Société »), une compagnie spécialisée dans la production et la distribution d'hydrogène vert, est heureuse d'annoncer la... Keep Reading...

Latest Press Releases

Related News