Home to the largest helium purification facility in Canada and one of the most highly concentrated helium resources in the world, the province of Saskatchewan is an emerging jurisdiction for helium exploration and production. With its proximity to the US, one of the world’s largest helium consumers, the province is accelerating the development of its helium sector.
Through the Helium Action Plan, launched in 2021, the Saskatchewan government aims to improve its competitiveness and increase investments across the helium value chain: from exploration and production to innovation, processing and exports.
Helium Evolution (TSXV:HEVI) is a Canadian helium exploration and production company focused on developing its helium assets in southern Saskatchewan. It’s leveraging Saskatchewan’s value proposition as a ‘green’ alternative to harvesting helium as a byproduct of natural gas. HEVI owns land rights to approximately 5.6 million acres, representing the largest land package in Canada controlled by a public entity.
HEVI’s land package is located in a helium-rich area and in close proximity to the US market, which is among the largest helium consumers in the world.
HEVI selected southern Saskatchewan for a variety of reasons. First, the decaying uranium in the area’s basement rocks has produced significant helium reserves throughout southern Saskatchewan. Second, Helium Evolution’s target geological formation, known as “The Deadwood”, contains up to 2 percent proven helium content alongside more than 95 percent nitrogen content. Existing geophysical data is readily available and will help Helium Evolution select the best drill targets.
Why does this matter? The presence of nitrogen as the carrier gas allows Helium Evolution to vent the gas in an environmentally friendly manner while also providing cost advantages during the helium extraction and liquefaction processes. Additionally, drilling for helium is similar to extracting conventional natural gas, meaning there’s no need for specialized equipment, and management’s existing oil and gas development expertise can be leveraged. Low-cost vertical drilling is all that’s required for HEVI to begin extraction.
HEVI’s unique competitive advantage comes in the form of a farm-out agreement with and a $3.5-million equity investment by North American Helium (NAH). The farm-out deal enables NAH to drill five development wells on HEVI land, with an option for two additional wells, offering HEVI near-term drilling catalysts that can accelerate cash flow generation without incurring up-front capital costs, all while retaining 99 percent of its land base.
The agreement also provides HEVI, at no cost, NAH’s proprietary seismic recently used to drill three successful and producing NAH wells in the Mankota area, giving HEVI greater insight and valuable data that can be used in identifying future targets.
HEVI’s landholding is adjacent to NAH’s discovery of two helium pools at Mankota and Cadillac. The Mankota Pool is a nitrogen-rich reserve with helium concentrations of 0.94 percent to 1.08 percent.
HEVI land is adjacent to NAH’s Cadillac and Mankota Discoveries
In November 2023, HEVI made its first joint helium discovery with NAH following the completion of the Deadwood zone and initial testing of the joint well drilled at 2-31-2-8W3 (Joint Well #1). The well underwent a series of tests to confirm flow rates, reservoir boundaries and gas composition, all of which represent important data points to help inform future development plans in the area. Joint Well #1 had helium concentrations of 0.95 percent – more than three times the 0.3 percent level deemed commercially viable – and 96 percent nitrogen. This gas composition is consistent with NAH's producing helium pool 15 kilometers to the north, supporting HEVI's belief that the area offers meaningful potential for commercial helium development.
HEVI is led by an impressive management team with a combined 150 years of resource development experience, including engineering, geological and executive management across the corporate landscape. CEO Greg Robb boasts 35 years of direct experience in Western Canada, where he focused on the acquisition and development of natural resources in the region. Patrick Mills, COO, brings over three decades of executive, managerial and engineering experience in Western Canada. Kristi Kunec, CFO, brings over 15 years of financial experience to HEVI, with a proven track record that includes leading the corporate finance, organizational planning and financial reporting functions for growing resource companies. Furthermore, vice-president John Kanderka has 40 years of directly applicable experience in the energy and mineral sectors, serving as an officer in both public and private entities. The management team is complemented by a strong board of directors, including the former premier of Saskatchewan, Brad Wall.
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Unlocking Canada's Untapped Helium Potential
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 analysis for the three and six months ended June 30, 2024 (the " Q2 Report ").
Complete details of the Q2 Report are available on SEDAR+ at www.sedarplus.ca , and on HEVI's website .
Three and Six Months Ended June 30, 2024 Highlights:
| Three months ended | Six months ended | |||
| Tabular amounts in thousands of Canadian Dollars, except share and per share amounts | June 30, 2024 | June 30, 2023 | June 30, 2024 | June 30, 2023 |
| Financial | ||||
| Net loss | 254 | 331 | 493 | 642 |
| Net loss per share, basic and diluted | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash | 4,766 | 7,728 | 4,766 | 7,728 |
| Working capital | 4,708 | 8,781 | 4,708 | 8,781 |
| Total assets | 10,863 | 13,027 | 10,863 | 13,027 |
| Total liabilities | 374 | 375 | 374 | 375 |
| Weighted average shares outstanding | ||||
| Basic and diluted 1 | 96,033,974 | 96,033,974 | 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 and six months ended June 30, 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, 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, as evidenced by the Company's positive working capital position of $4.7 million at June 30, 2024, excluding $0.8 million of tubing and casing that was pre-purchased but not yet utilized.
Operations Update
HEVI is also pleased to provide an operations update, including stimulation results from the helium discovery well at 9-18-3- 8W3 (the " 9-18 Well ") at Mankota, in which HEVI maintains a 20% working interest alongside its partner and the operator of the 9-18 Well, North American Helium Inc. (" NAH ").
HEVI and NAH are strategically planning to embark on an ambitious drilling program, with up to nine joint development wells (the " New Wells ") that are expected to build on the three existing helium discoveries in the Mankota area of Saskatchewan, each of which is described in more detail below. To date, surface and environmental restrictions have prevented access to certain parts of Mankota, resulting in some deferrals of drilling, testing and other operating activities in the area. Given this seasonal shift, go forward development at Mankota will be targeted through the upcoming winter months, when restrictions are eased and access allowed.
For context, the map shown here demonstrates the positioning of each of HEVI's helium discovery wells, future drilling targets and the processing facility licensed at 12-30-2-8W3 (the " 12- 30 Facility ").
Helium Discovery - 9-18 Well
Helium Discovery - 2-31 Well
Helium Discovery - 9-35 Well
New Well Drilling and Seismic Program
Looking ahead, HEVI remains strategically positioned and highly differentiated due to its successful partnership with NAH, Canada's leading helium driller and producer in Saskatchewan. With a sizeable land base, healthy working capital and numerous catalysts on the horizon, the Company remains excited about the future.
HEVI wishes to thank all shareholders and stakeholders for their continued support and looks forward to providing future updates on its exploration and development activities.
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 an updated 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 over five 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 Kristi Kunec, CFO | Phone: 1-587-330-2459 Email: info@heliumevolution.ca Web: https://www.heliumevolution.ca/ |
| Cindy Gray, Investor Relations | heviinfo@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, future production from the 9-18 Well, the 2-31 Well and the 9-35 Well, the Company's expectations regarding scalable helium production from its land generally, the Company and/or NAH's plans with respect to the 9-18 Well, the 2-31 Well and the 9- 35 Well, potential drilling locations on the 4 Crown Sections, water production in the 9-18 Well, the 2-31 Well and the 9-35 Well, the Company's expectations regarding recoverability of helium, the size and nature of the reservoir, the Company and/or NAH's ability to identify future exploration and drilling targets including the New Wells, exploration strategies and delineation, productivity and commerciality of downdip reservoirs, productivity of multiple helium bearing zones, presence of a trap or cap rock in the Mankota area, the size of the helium fairway, the Company and/or NAH's plans with respect to drilling the New Wells, the Company's ability to identify seismic studies, shooting seismic over the 4 Crown Sections and the timing thereof, the success of the partnership with NAH, the Company's intention to provide further updates regarding significant updates and developments, the Company becoming a leading supplier of sustainably-produced helium, the timeline of future updates, the Company's beliefs regarding growth of the global helium market 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 our actual results, performance, 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: NAH and/or HEVI may be unsuccessful in drilling commercially productive wells; the Company and/or NAH may abandon or defer plans for continuing the completion, testing and evaluation of the 9-18 Well; the Company and/or NAH may choose to defer, accelerate or abandon its exploration and development plans including the New Wells and/or wells on the 4 Crown Sections; the Company may abandon, defer or accelerate its plans to acquire or shoot seismic; the Company and/or NAH may determine not to bring the 9-18 Well, the 2-31 Well and/or the 9-35 Well onto production; the Company may abandon its plans to shoot seismic and/or acquire seismic studies; 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 and the Company's working capital position; 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, 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 news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news 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.
Photos accompanying this announcement are available at
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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.
Looking ahead, HEVI is diligently working on acquiring surface leases for multi drilling locations on four sections of recently acquired land, in which the Company holds a 100% working interest (" 4 Crown Sections "). In addition, HEVI and its partner, North American Helium Inc. (" NAH "), are working together to finalize drilling locations and acquire surface leases for up to nine joint development wells (the " New Wells ") on a defined helium trend in the Mankota area. The New Wells are expected to spud between Q3 2024 and Q2 2025.
Additionally, HEVI announces that, subject to applicable TSX Venture Exchange approval, the Board of Directors of the Company has approved the amendment of an aggregate of 700,000 incentive stock options, of which 420,000 incentive stock options have vested (the " Amended Options "), previously granted to certain consultants, and investor relations service providers of the Company under the Company's 2021 stock option plan (the " Option Amendments "). The Amended Options were originally granted on June 30, 2022 at an exercise price of $0.385 per share and are exercisable until June 30, 2027. Pursuant to the Option Amendments, the exercise price of the Amended Options has been amended to $0.15 per share and there is no change to the expiry date. None of the Amended Options are held by insiders of the Company.
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 over five 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 Kristi Kunec, CFO | Phone: 1-587-330-2459 Email: info@heliumevolution.ca Web: https://www.heliumevolution.ca/ |
| Cindy Gray, Investor Relations | heviinfo@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 to obtain TSXV approval, the Company's ability to obtain the necessary consents, approvals or authorizations, and the timing and possible outcome of same, the Company's expectations regarding the Company and/or NAH's development and exploration plans and ability to obtain surface leases, the Company's expectations regarding the Mankota helium discoveries, the Company and/or NAH's ability to identify future exploration and drilling targets including the New Wells, the stimulation of the 9-18 Well including the timing and the achievable results 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 our 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 may be unsuccessful in drilling commercially productive wells; the Company and/or NAH may choose to defer, accelerate or abandon its exploration and development plans including the New Wells and/or the 4 Crown Sections; the Company and/or NAH may be unable to obtain surface leases; the Company and/or NAH may abandon plans to stimulate the 9-18 Well; the Company may not receive the necessary consents, approvals or authorizations required.
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 news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news 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.
News Provided by GlobeNewswire via QuoteMedia
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.
At the Meeting, shareholders also approved: (1) fixing the number of directors of the Company for the ensuing year at seven; (2) appointing KPMG LLP as the auditors of the Company for the ensuing year and authorizing the directors to fix the remuneration to be paid to the auditors; and (3) approving and confirming the rolling 10% stock option plan of the Company, as more particularly described in the Company's Circular.
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 |
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.
News Provided by GlobeNewswire via QuoteMedia
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.
News Provided by GlobeNewswire via QuoteMedia
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 .
Three Months and Year Ended December 31, 2023 Highlights:
| Three months ended | Year ended | |||
| Tabular amounts in thousands of Canadian Dollars, except share and per share amounts | December 31, 2023 | December 31, 2022 | December 31, 2023 | December 31, 2022 |
| Financial | ||||
| Net loss | 1,719 | 520 | 2,953 | 7,363 |
| Net loss per share, basic and diluted | 0.02 | 0.01 | 0.03 | 0.09 |
| Cash | 6,330 | 9,128 | 6,330 | 9,128 |
| Working capital | 5,743 | 10,236 | 5,743 | 10,236 |
| Total assets | 11,639 | 13,022 | 11,639 | 13,022 |
| Total liabilities | 872 | 226 | 872 | 226 |
| Weighted average shares outstanding | 96,033,974 | 96,033,974 | ||
| Basic and diluted 1 | 96,033,974 | 78,397,100 | ||
| 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 year ended December 31, 2023, HEVI continued to execute on its focused strategy of developing the Company's 5.6 million acres of helium rights in southern Saskatchewan and advancing 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 $5.7 million at December 31, 2023, excluding $0.8 million of tubing and casing that was pre-purchased and not utilized.
Operations Update
Looking forward to the remainder of 2024 and into 2025 and as announced on April 2, 2024 , the Company is strategically planning to embark upon a drilling program in the Mankota area of Saskatchewan with its partner, North American Helium Inc. (" NAH "), building upon three existing helium discoveries in the region. 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.
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 Kristi Kunec, CFO | Phone: 1-587-330-2459 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 and/or NAH's exploration and drilling plans including the New Wells, the Company's expectations regarding scalable helium production from its land generally , the Company's expectations regarding recoverability of helium, the Company and/or NAH's ability to identify future exploration and drilling targets, the Company's ability to capitalize upon the New Wells, increasing shareholder value, the Company's ability to preserve capital, the drilling timeline for and success of any future Company and/or NAH 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 may be unsuccessful in drilling commercially productive wells; the Company and/or NAH may choose to defer, accelerate or abandon its drilling plans, including the New Wells; the Company and/or NAH 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.
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Alvopetro Energy Ltd. (TSXV: ALV,OTC:ALVOF) (OTCQX: ALVOF) announces that our Board of Directors has declared a quarterly dividend of US$0.10 per common share, payable in cash on October 15, 2025 to shareholders of record at the close of business on September 30, 2025 . 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 .
Corporate Presentation
Alvopetro's updated corporate presentation is available on our website at:
http://www.alvopetro.com/corporate-presentation .
Social Media
Follow Alvopetro on our social media channels at the following links:
X - https://x.com/AlvopetroEnergy
Instagram - https://www.instagram.com/alvopetro/
LinkedIn - https://www.linkedin.com/company/alvopetro-energy-ltd
Alvopetro Energy Ltd. is deploying a balanced capital allocation model where we seek to reinvest roughly half our cash flows into organic growth opportunities and return the other half to stakeholders. Alvopetro's organic growth strategy is to focus on the best combinations of geologic prospectivity and fiscal regime. Alvopetro is balancing capital investment opportunities in Canada and Brazil where we are building off the strength of our Caburé and Murucututu natural gas fields and the related strategic midstream infrastructure.
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 news release.
All amounts contained in this new release are in United States dollars, unless otherwise stated and all tabular amounts are in thousands of United States dollars, except as otherwise noted.
Forward-Looking Statements and Cautionary Language
This news release contains forward-looking information within the meaning of applicable securities laws. The use of any of the words "will", "expect", "intend", "plan", "may", "believe", "estimate", "forecast", "anticipate", "should" and other similar words or expressions are intended to identify forward-looking information. Forward‐looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to vary significantly from the expectations discussed in the forward-looking statements. These forward-looking statements reflect current assumptions and expectations regarding future events. Accordingly, when relying on forward-looking statements to make decisions, Alvopetro cautions readers not to place undue reliance on these statements, as forward-looking statements involve significant risks and uncertainties. More particularly and without limitation, this news release contains forward-looking information concerning the Company's dividends, plans for dividends in the future, the timing and amount of such dividends and the expected tax treatment thereof. Forward-looking statements are necessarily based upon assumptions and judgments with respect to the future including, but not limited to the success of future drilling, completion, testing, recompletion and development activities and the timing of such activities, the performance of producing wells and reservoirs, well development and operating performance, expectations and assumptions concerning the timing of regulatory licenses and approvals, equipment availability, environmental regulation, including regulations relating to hydraulic fracturing and stimulation, the ability to monetize hydrocarbons discovered, the outlook for commodity markets and ability to access capital markets, foreign exchange rates, the outcome of any disputes, the outcome of redeterminations, general economic and business conditions, forecasted demand for oil and natural gas, the impact of global pandemics, weather and access to drilling locations, the availability and cost of labour and services, and the regulatory and legal environment and other risks associated with oil and gas operations. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be incorrect. Actual results achieved during the forecast period will vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. Current and forecasted natural gas nominations are subject to change on a daily basis and such changes may be material. In addition, the declaration, timing, amount and payment of future dividends remain at the discretion of the Board of Directors. Although we believe that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because we can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, risks associated with the oil and gas industry in general (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, reliance on industry partners, availability of equipment and personnel, uncertainty surrounding timing for drilling and completion activities resulting from weather and other factors, changes in applicable regulatory regimes and health, safety and environmental risks), commodity price and foreign exchange rate fluctuations, market uncertainty associated with trade or tariff disputes, and general economic conditions. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be incorrect. Although Alvopetro believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Alvopetro can give no assurance that it will prove to be correct. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on factors that could affect the operations or financial results of Alvopetro are included in our AIF which may be accessed on Alvopetro's SEDAR+ profile at www.sedarplus.ca . The forward-looking information contained in this news release is made as of the date hereof and Alvopetro undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
SOURCE Alvopetro Energy Ltd.
View original content: http://www.newswire.ca/en/releases/archive/September2025/15/c3517.html
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VVC Exploration Corporation, dba VVC Resources, ("VVC"), (TSX-V:VVC and OTCQC:VVCVF) announces the following events.
Loan from Chairman
VVC's Chairman of the Board, Terrence Martell Ph.D. (the "Lender"), has provided a US$700,000 loan (the "Loan") to VVC's subsidiary, Plateau Helium Corp., for use in operating and developing its Helium/PNG assets in Kansas, USA. The Loan, secured by a Promissory Note, is payable on demand and bears no interest. The Loan contains a conversion option whereby, at the sole option and discretion of the Lender, all or any portion of the outstanding principal amount can be settled with up to 230,000 shares of Cyber App Solutions (CRYB) at a price of US$3.09 per share.
Director Resignation
Mr. Steven Looper has resigned as a director of the Company for personal reasons and his resignation was accepted by the Board with regret. VVC would like to thank Mr. Looper, who served the Company as director since September 2023. Jim Cuver, VVC CEO commented, that « VVC regrets Steve's decision to leave the Board of Directors, but we understand the pressure for him to do so as he drives Proton Green to become a major player in both the helium and beverage CO 2 production. Steve, we wish you all the best and stand ready to help you in any way we can. » No replacement director has yet been appointed. The vacancy will most likely be filled in the months to come or at the next shareholders' meeting before the end of the year.
About VVC Resources
VVC engages in the exploration, development, and management of natural resources - specializing in scarce and increasingly valuable materials needed to meet the growing, high-tech demands of industries such as manufacturing, technology, medicine, space travel, and the expanding green economy. Our portfolio includes a diverse set of multi-asset, high-growth projects, comprising: Helium & industrial gas production in western U.S.; Copper & associated metals operations in northern Mexico; and Strategic investments in carbon sequestration and other green energy technologies. VVC is a Canada-based, publicly-traded company on the TSXV (TSX-V:VVC). To learn more, visit our website at: www.vvcresources.com .
| On behalf of the Board of Directors | ||
| Michel J. Lafrance, Secretary-Treasurer | ||
| For further information, please contact: | For further information in French, please contact | |
| Emily Bigelow - (615) 504-4621 | Patrick Fernet - (514) 631-2727 | |
| E-mail: emily@vvcresources.com | or | E-mail: pfernet@vvcexploration.com |
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
2369 Kingston Road, PO Box 28059 Terry Town, Scarborough, ON M1N 4E7 – Tel: 416-619-5304
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Brossard, Quebec TheNewswire - September 5, 2025 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 it has signed, on September 4, 2025, an Asset Purchase Agreement to acquire operational hydrogen production and refuelling equipment in Quebec. The strategic acquisition will enable CHARBONE to fast-track the commissioning of CHARBONE's flagship Sorel-Tracy facility phase 1 and empower CHARBONE to produce and deliver first industrial high purity hydrogen (UHP) sales in the upcoming quarter.
The equipment, currently in use will be dismantled, repurposed and relocated to Sorel-Tracy .
This transaction follows CHARBONE's signing of a non-dilutive USD 50 million construction capital facility announced on May 1 and June 4, 2025. While this facility is earmarked for broader project financing rather than this equipment purchase, it demonstrates CHARBONE's strengthened capital position and ability to scale up its overall development plan.
Key Investor Highlights
Accelerated Timeline : Repurposing proven operating equipment reduces installation costs of new equipment — enabling production by early Q4 2025
Selection Process : CHARBONE has been selected as the buyer of the equipment as the seller has accepted $1M in CHARBONE stock as part of a portion of the purchase price at an issue price equal to the market price of CHARBONE's shares on the TSX Venture Exchange on the effective date plus a cash balance payable in 3 tranches payment , with one-third payment on the effective date and the remaining paid over two years — preserving cash for growth.
Operational Progress : Grid connection is completed; Hydro-Québec installed the energy meter on July 22, and completed the interconnection on August 13, while the Town of Sorel-Tracy completed the water connection to its main system, providing the site with the two elements needed for hydrogen production.
Private Placement Details
Additionally, CHARBONE is pleased to announce the sequential closings of its $1M non-brokered private placement (the "Equity Offering"). The Company has already secured $0.5 million to accelerate the completion of its flagship green hydrogen production facility in Sorel-Tracy, Quebec.
The initial tranche involved the issuance of 7,699,666 units. A second tranche for the remaining $0.5M is expected to close by October 15, 2025.
The proceeds from the Equity Offering will be primarily allocated to the Company's purchase of the operating hydrogen equipment, re-installation at the Sorel-Tracy site, and infrastructure development, and general working capital requirements.
Each of the units offered (each a Unit "), priced at $0.06 per Unit, included one common share of the Company (each, a " Unit Share ") and one common share purchase warrant (each, a " Warrant "). Each Warrant gives the holder the right to buy one additional common share of the Company at an exercise price of $ 0.08 for 24 months after the closing date of the Offering (the Closing Date "). At the Closing Date, the Company paid a finder's fee of $17,222 and issued 287,040 finder's warrants to registered dealers related to the sale of certain Units to qualified subscribers introduced by such dealers. The Units were offered under the "accredited investor" exemptions of National Instrument 45-106 – Prospectus Exemptions (in Québec, Regulation 45-106 – Prospectus Exemptions ). However, the Company reserves the right to decline subscription amounts below $5,000 (83,333 Units) to avoid excessive administrative costs.
The closing of the Equity Offering remains subject to the approval of the TSX Venture Exchange and other customary closing conditions. The Company may close a second tranche in the coming days, but no later than October 15, 2025. All securities issued under the Offering are subject to a statutory four-month and one-day hold period in Canada following the Closing Date
This news release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of securities in any jurisdiction where such offer, solicitation, or sale would be unlawful, including in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the 1933 Act ") or any applicable state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and relevant state laws, or if an exemption from registration is available
CEO Comment
"Investors have waited for Sorel-Tracy to move from development to revenue," said Dave Gagnon, President and CEO of CHARBONE. "By repurposing proven equipment — at a lower cost of a new build — and structuring the deal to preserve cash, we're entering execution mode with strong capital backing and minimal dilution. He continues; This acquisition positions us to deliver green and high purity hydrogen (UHP) to our industrial customers quicker, and with best-in-class operating equipment. "
Why This Matters
This acquisition signals a turning point for CHARBONE: after years of development, the company is positioned to deliver its first hydrogen revenues, leverage non-dilutive capital to scale, and capture early-mover advantages in the North American green hydrogen market.
About Charbone Hydrogen CORPORATION
CHARBONE is an integrated company specialized in Ultra High Purity (UHP) hydrogen and the strategic distribution of industrial gases in North America and the Asia-Pacific region. It is developing a modular network of green hydrogen production while partnering with industry players to supply helium and other specialty gases without the need to build costly new plants. This disciplined strategy diversifies revenue streams, reduces risks, and increases flexibility. The CHARBONE group is publicly listed in North America and Europe on the TSX Venture Exchange (TSXV: CH,OTC:CHHYF), the OTC Markets (OTCQB: CHHYF), and the Frankfurt Stock Exchange (FSE: K47). For more information, visit www.charbone.com .
Forward-Looking Statements
This news release contains statements that are "forward-looking information" as defined under Canadian securities laws ("forward-looking statements"). These forward-looking statements are often identified by words such as "intends", "anticipates", "expects", "believes", "plans", "likely", or similar words. The forward-looking statements reflect management's expectations, estimates, or projections concerning future results or events, based on the opinions, assumptions and estimates considered reasonable by management at the date the statements are made. Although Charbone believes that the expectations reflected in the forward-looking statements are reasonable, forward-looking statements involve risks and uncertainties, and undue reliance should not be placed on forward-looking statements, as unknown or unpredictable factors could cause actual results to be materially different from those reflected in the forward-looking statements. The forward-looking statements may be affected by risks and uncertainties in the business of Charbone. These risks, uncertainties and assumptions include, but are not limited to, those described under "Risk Factors" in the Corporation's Filing Statement dated March 31, 2022, which is available on SEDAR at www.sedar.com; they could cause actual events or results to differ materially from those projected in any forward-looking statements.
Except as required under applicable securities legislation, Charbone undertakes no obligation to publicly update or revise forward-looking information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release .
| Contact Charbone Hydrogen Corporation | |
| Telephone: +1 450 678 7171 | |
| Email: ir@charbone.com Benoit Veilleux CFO and Corporate Secretary | |
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