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
Helium Evolution

Helium Evolution Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

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

Helium Evolution


Keep reading...Show less
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 now anticipated to take place later in June or in July 2024. The delay is due to higher than normal rainfall in the Mankota area, which has impacted the surface conditions and postponed the start of the 9-18 Well stimulation.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
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 on May 22, 2024 (the " Meeting ") were approved. A total of 29,481,254 common shares representing 30.7% of the Company's issued and outstanding common shares were voted in person or represented by proxy at the Meeting.

The shareholders voted in favour of all matters set out in the Company's Management Information Circular dated April 22, 2024 (the " Circular "), including the election of all seven director nominees of HEVI for the ensuing year or until his or her successor is elected or appointed. Each nominee received greater than 96% of votes in favour.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
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 for the year ended December 31, 2023 (the " Annual Report ").

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

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
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 the joint well drilled at 9-35-3-9W3 (" 9-35 Well ").

On February 26, 2024 , the Company outlined that the 9-35 Well flow tested at approximately 7 million standard cubic feet per day (" MMscf/d ") and 9,000 kiloPascals flowing tubing pressure during the six-day extended flow period. The gas composition of the 9-35 Well is 0.64% helium and 96.7% nitrogen, with the balance comprised of fractional percentages of minor component gases. Helium concentrations over 0.3% are deemed commercially viable.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Helium Evolution Confirms Additional Drilling of Up to 9 New Wells on Joint Land and Provides Operations Update

Helium Evolution Confirms Additional Drilling of Up to 9 New Wells on Joint Land 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, is pleased to announce a joint initiative with its partner and the operator, North American Helium Inc. (" NAH "), to embark on an ambitious drilling program in the Mankota area of Saskatchewan.

HEVI and NAH are planning to drill up to nine joint development wells (the " New Wells ") which are expected to spud between Q3 2024 and Q2 2025, subject to surface and environmental restrictions. With HEVI's 20% working interest in the New Wells, the Company is positioned to capitalize on this strategic expansion, building upon three existing helium discoveries at Mankota, including the commercially viable 2-31 Well, as defined herein and as outlined in the Company's press release on February 26, 2024 . The Company intends to work with NAH over the coming months to determine specific well locations and timelines.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Hydrogen pipes in a green grass field on a sunny day.

Hydrogen Stocks: 9 Biggest Companies in 2024

Hydrogen stocks are benefiting from cleantech sector momentum as the world moves closer to a green energy future.

The most abundant element on Earth, hydrogen is a colorless gas. It can be produced in liquid form and burned to generate electricity, or combined with oxygen atoms in fuel cells. In this way, hydrogen — which produces no carbon emissions — can replace fossil fuels in household heating, transportation and industrial processes such as steel manufacturing.

Rising demand for carbon-free energy sources alongside significant new government policies are driving growth in the hydrogen market. Grand View Research projects that the global hydrogen-generation market will grow at a compound annual growth rate of 9.3 percent from 2024 to 2030, reaching US$317.39 billion by the end of the forecast period.

Keep reading...Show less
BPH Energy Limited  Investor Webinar Presentation

BPH Energy Limited Investor Webinar Presentation

Perth, Australia (ABN Newswire) - BPH Energy Ltd (ASX:BPH) is pleased to announce its participation in the ShareCafe Small Cap "Hidden Gems" Webinar, to be held Friday 21st of June 2024 from 12:30pm AEST.

David Breeze - Executive Director will provide an overview of the Company, BPH is a diversified company holding investments in medical technology and resources. BPH holds a significant interest (36%) in unlisted oil and gas exploration company Advent Energy Ltd.

This webinar can be viewed live via Zoom and will provide viewers the opportunity to hear from, and engage with, a range of ASX-listed leading micro/mid cap companies.

To access further details of the event and to register at no cost, please visit:
https://www.abnnewswire.net/lnk/50L95CS4

A recorded copy of the webinar will be made available following the event



About BPH Energy Limited:

BPH Energy Limited (ASX:BPH) is an Australian Securities Exchange listed company developing biomedical research and technologies within Australian Universities and Hospital Institutes.

The company provides early stage funding, project management and commercialisation strategies for a direct collaboration, a spin out company or to secure a license.

BPH provides funding for commercial strategies for proof of concept, research and product development, whilst the institutional partner provides infrastructure and the core scientific expertise.

BPH currently partners with several academic institutions including The Harry Perkins Institute for Medical Research and Swinburne University of Technology (SUT).



Source:
BPH Energy Limited

News Provided by ABN Newswire via QuoteMedia

Keep reading...Show less
Elixir Energy

Elixir Adds New Taroom Acreage

Elixir Energy Limited (“Elixir” or the “Company”) is pleased to announce that it has been appointed as Preferred Tenderer in relation to a new exploration area in Queensland: PLR2023-1-7 (see map below). The area lies immediately adjacent to the Company’s Project Grandis in the Taroom Trough.

Keep reading...Show less
One gas powered vehicle and one electric vehicle.

From Fossil Fuels to Renewables: How the Energy Transition is Transforming the Oil and Gas Industry

The oil and gas sector has long been one of the Earth's largest and most valuable industries, but it's undergoing major changes to compete in the green energy transition and remain profitable.

At last year's COP28 summit, nations signaled a definitive shift away from fossil fuels, marking a potential "beginning of the end" for the era. While ambitious, the reality is more complex. Oil and gas aren't disappearing anytime soon — in fact, the industry is projected to rake in revenue of US$5.3 trillion in 2024, with daily consumption of 103 million barrels.

Indeed, petroleum remains the lifeblood of transportation systems, powering billions of vehicles, while natural gas heats a significant portion of the world's homes. At the same time, the industry's substantial environmental impact — accounting for 15 percent of energy-related emissions on a worldwide scale — cannot be ignored.

Keep reading...Show less
Elixir Energy

Elixir Energy Limited (ASX: EXR) – Trading Halt

Description

The securities of Elixir Energy Limited (‘EXR’) will be placed in trading halt at the request of EXR, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Thursday, 20 June 2024 or when the announcement is released to the market.

Keep reading...Show less
Alvopetro Announces Q2 2024 Dividend of US$0.09 Per Share and Reminder of Upcoming AGM

Alvopetro Announces Q2 2024 Dividend of US$0.09 Per Share and Reminder of Upcoming AGM

Alvopetro Energy Ltd. (TSXV: ALV) (OTCQX: ALVOF) announces that our Board of Directors has declared a quarterly dividend of US$0.09 per common share, payable in cash on July 15, 2024 to shareholders of record at the close of business on June 28, 2024 . This dividend is designated as an "eligible dividend" for Canadian income tax purposes.

Dividend payments to non-residents of Canada will be subject to withholding taxes at the Canadian statutory rate of 25%.  Shareholders may be entitled to a reduced withholding tax rate under a tax treaty between their country of residence and Canada.  For further information, see Alvopetro's website at https://alvopetro.com/Dividends-Non-resident-Shareholders .

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Helium Evolution

Helium Evolution Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×