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.
News Provided by GlobeNewswire via QuoteMedia
Alvopetro Energy Ltd. (TSXV: ALV) (OTCQX: ALVOF) announces March sales volumes of 2,580 boepd, including natural gas sales of 14.5 MMcfpd, associated natural gas liquids sales from condensate of 146 bopd and oil sales of 12 bopd, based on field estimates, bringing our average daily sales volumes to 2,446 boepd in Q1 2025, up 41% from Q4 2024.
Natural gas, NGLs and crude oil sales: |
Corporate Presentation
Alvopetro's updated corporate presentation is available on our website at:
http://www.alvopetro.com/corporate-presentation .
Social Media
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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.
Abbreviations:
boepd | = | barrels of oil equivalent ("boe") per day |
bopd | = | barrels of oil and/or natural gas liquids (condensate) per day |
Mcf | = | thousand cubic feet |
Mcfpd | = | thousand cubic feet per day |
MMcfpd | = | million cubic feet per day |
NGLs | = | natural gas liquids |
Q1 2025 | = | three months ended March 31, 2025 |
Q4 2024 | = | three months ended December 31, 2024 |
BOE Disclosure . The term barrels of oil equivalent ("boe") may be misleading, particularly if used in isolation. A boe conversion ratio of six thousand cubic feet per barrel (6Mcf/bbl) of natural gas to barrels of oil equivalence is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. All boe conversions in this news release are derived from converting gas to oil in the ratio mix of six thousand cubic feet of gas to one barrel of oil.
SOURCE Alvopetro Energy Ltd.
View original content: http://www.newswire.ca/en/releases/archive/April2025/03/c2450.html
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Charbone Hydrogen offers a compelling investment opportunity in the US$89 billion green hydrogen market, leveraging a decentralized approach for scalable plant deployment and focusing on environmentally friendly production to reduce carbon footprints.
Charbone Hydrogen (TSXV:CH,OTCQB:CHHYF,FWB:K47) is the only publicly listed green hydrogen firm in Canada looking to expand across North America (US and Canada) with a pipeline of new projects. This is an opportune time for Charbone as the world races to find effective solutions to meet its net-zero ambitions by 2050. Green hydrogen could be a perfect fit as a potentially low-emitting fuel source. There is an increasing realization of the potential of hydrogen in serving as a low-emissions substitute for fossil fuels in residential as well as industrial use cases.
The Government of Canada has laid out its hydrogen policy, aiming to meet nearly 30 percent of its energy requirement in 2050 by hydrogen, as well as become one of the top three clean hydrogen producers globally. The presence of abundant hydroelectric power, favorable government policies, and a progressive tax regime should boost hydrogen production in the country. The 2023 federal budget includes more than $17 billion in tax credits over the next five years to help fund clean energy projects, including hydrogen.
Green hydrogen: key element to decarbonize the world
The US Department of Energy expects to produce 10 million metric tons (MMT) of hydrogen annually by 2030 and eventually reach 50 MMT by 2050. According to US Deputy Secretary of Energy David Turk, 50 MMT of hydrogen could power every bus, train, plane and ship in the US.
Charbone stands to benefit from rapid adoption of hydrogen as an alternative to fossil fuels. Moreover, Charbone’s focus solely on “green hydrogen” should further its position among investors looking for opportunities to invest in sustainable energy solutions. Green hydrogen is produced when the energy used to power electrolysis comes from renewable sources like wind, water, solar or nuclear. Charbone has clearly stated its intentions to leverage hydropower and nuclear energy to produce hydrogen.
Carbone forged strong partnerships to execute its business model.
Charbone has signed a memorandum of understanding (MoU) with ABB to collaborate on the development of up to 15 modular and scalable green hydrogen production facilities across North America over the next five years. Under the MOU, ABB will support CHARBONE in standardizing basic engineering for systems and components across its project portfolio, to increase energy efficiency and reliability.
Among the sites covered by the collaboration is Charbone's flagship Sorel-Tracy facility near Montreal in Québec, Canada, which is currently under construction. The Sorel-Tracy facility is located on a 40,000-square-meter land parcel along Quebec Highway 30, known as the “Steel Highway” because of the numerous steel mills and process plants operating along the highway.
The construction of Phase 1 of its Sorel-Tracy facility is being done in partnership with EBC, one of the largest construction companies in Quebec. EBC has a proven track record of designing and building facilities in Canada and the US. The partnership agreement gives EBC the right of first refusal to construct additional Sorel-Tracy phases, as well as one or all of Charbone’s facilities within the North American market.
In addition, Charbone has entered into several other strategic partnerships all aimed to expand its footprint in North America. The company entered into a special consultancy agreement with Enki GéoSolutions for potential partnership proposals as a co-operator and distributor of an emerging form of clean and renewable hydrogen, known as white or natural hydrogen.
In June 2024, Carbone executed a supply agreement for a complete containerized electrolyzer system ready for shipment to its flagship green hydrogen site in the City of Sorel-Tracy, Quebec. The electrolyzer has a higher capacity than originally planned and will significantly enhance initial operational capacity estimates. The company also acquired its first tube trailer for the transport and bulk delivery of compressed green hydrogen produced from the City of Sorel-Tracy, Quebec flagship project to local and domestic customers.
Charbone signed commercial supply agreements (CSAs) with a top-tier US industrial gas producer and distributor. The first CSA secures hydrogen supply ahead of Charbone’s own production, while the second expands its product offerings to include helium and other industrial gases. Positioned to capitalize on emerging North American opportunities, particularly in Canada, Charbone leverages its early-mover advantage to build strategic partnerships and strengthen its role in the low-carbon, high-purity hydrogen market.
This partnership allows Charbone to sell hydrogen produced at the Sorel-Tracy facility to Superior Propane, a subsidiary of Superior Plus. Such supply agreements ensure that Charbone can generate cash flow immediately following the commencement of production.
Carbone Hydrogen entered into an off-take partnership with Superior Plus on the supply and
distribution of green hydrogen.
Another such supply agreement was signed in November 2023 with NEK Community Broadband, which ensures the supply of green hydrogen in the Northeast Kingdom of the state of Vermont (USA). NEK Broadband is building a high-speed broadband infrastructure and plans to install a hydrogen fuel cell backup system for a reliable power supply.
Further advancing its goal of US expansion, Charbone signed a memorandum of understanding in December 2023 with Michigan’s Oakland County Economic Development Department to set up Charbone’s first green hydrogen facility in the United States. Oakland County is home to major automakers, and a green hydrogen facility in their proximity will support the effort of producing environmentally friendly mobility options.
Being the only publicly listed green hydrogen player in Canada, Charbone offers investors a unique opportunity to participate in the rise of green hydrogen as a potential low-emitting alternative to fossil fuels.
Dave Gagnon has been chairman and chief executive officer of Charbone Hydrogen Corporation since April 21, 2022. He has been a climate tech entrepreneur for the last 25 years, and was the first entrepreneur in Canada to start a wind turbine company and offer a new alternative energy solution in North America. Gagnon also worked with an institutional investor that manages several public pension plans, Caisse de depot et placement du Quebec, where he gained deep knowledge of the financial markets.
Benoit Veilleux was appointed as the CFO of Charbone on August 15, 2022. Veilleux has over 15 years of experience in corporate accounting and finance. He began his professional career at KPMG in 2003, where he managed and coordinated audit teams for public companies until 2010. Since then, he has worked with a number of companies including Air Liquide Canada and the Hypertec Group.
Daniell Charette has been the chief operating officer of Charbone since February 2019. He brings over 25 years of experience in running and managing renewable energy companies. He has worked in senior leadership roles with several renewable companies including NEG Micon A/S, Vestas and Brookfield Power. He has served on various association boards and councils, including the Canadian Wind Energy Association, Association Québécoise des Producteurs d’Énergie Renouvelable, and Latin Wind Energy Association.
Francois Vitez is a hydropower and energy storage expert with more than 24 years of experience in the development, engineering and construction management as well as operations and maintenance of hydropower and energy storage projects in North America and internationally. He is a board member and chair of the Value of Hydropower committee at Waterpower Canada, vice-chair of the Energy Storage Association of Canada, board member of the California Energy Storage Association, and member of the International Hydropower Association.
Patrick Cuddihy is a seasoned operations leader with over 20 years of experience at Air Liquide Canada, to its hydrogen operations team. Patrick brings a wealth of expertise in managing industrial gas production and distribution, having held senior roles including network sales director for Quebec Region, general manager for Pacific Region, director of procurement services, and director of logistics and assets for the Eastern Region.
Quebec Innovative Materials Corp. (CSE: QIMC) (OTCQB: QIMCF) (FSE: 7FJ) ("QIMC") is pleased to announce a major expansion of its natural clean renewable hydrogen exploration activities with the establishment of a new exploration camp in the Cumberland Basin, Nova Scotia, QIMC has staked 2,645 exploration claims. This strategic initiative significantly expands QIMC's natural clean renewable hydrogen and helium exploration portfolio into Canada's Atlantic region, positioning the company to access international hydrogen export markets via existing Atlantic port infrastructure.
John Karagiannidis CEO of QIMC stated: "Our expansion into Nova Scotia marks a transformative step forward, building upon our unparalleled exploration success in Quebec. By harnessing the favorable geological features of the Cumberland Basin and utilizing our proven exploration methodologies, we are poised to unlock substantial new natural clean hydrogen and helium resources, fueling a cleaner energy future and creating significant value for shareholders."
Covering approximately 428.49 km² with 2,645 exploration claims, the Cumberland project strategically targets geological structures conducive for their natural hydrogen and helium potential. Characterized by a thick sedimentary sequence exceeding 7 kilometers, deep-seated faults, and prominent geothermal gradients, the Cumberland Basin offers optimal conditions for hydrogen generation, accumulation, and potential storage.
Leveraging the exceptional exploration model developed at QIMC's St-Bruno-de-Guigues property in Quebec, where groundbreaking exploration has yielded outstanding natural renewable hydrogen results, QIMC intends to replicate its proven approach in the geologically favorable Cumberland Basin area. Nova Scotia's geological environment, marked by significant structural similarities to renowned global hydrogen-rich regions such as the Lorraine Basin in France, offers an ideal opportunity for transformative discoveries.
Specifically, the Cobequid-Chedabucto fault system, an extensive and deep-reaching geological structure, provides pathways for natural hydrogen production through water-mineral interactions involving biotite-rich granitoids and olivine-bearing mafic rocks. Recent scientific modeling in analogous geological environments, such as France's Rhine graben, demonstrates substantial hydrogen generation from biotite-rich granites, confirming the significant hydrogen potential awaiting discovery in Nova Scotia.
In addition, Nova Scotia's geological setting provides robust potential for helium co-production and hydrogen storage, particularly due to abundant salt diapirs within the Windsor Formation. This integrated exploration strategy strengthens QIMC's leading role in natural hydrogen exploration and positions it prominently as the North American leader in natural renewable hydrogen.
Prof. Marc Richer-Laflèche explains: "Nova Scotia frequently hosts biotite-rich potassic granitoids, notably within Neoproterozoic geological complexes such as the Frog Lake pluton (Murphy et al., 2001), as well as within several significant Carboniferous plutons including the North River and Hanna Farm plutons in the Cobequid Highlands (Pe-Piper, 1991). Additionally, lamprophyric intrusions, which are notably abundant throughout the region, also exhibit high biotite concentrations. Within our exploration model for natural hydrogen in Nova Scotia, biotite plays a pivotal role. Analogous to the process involving olivine in mafic and ultramafic rocks, biotite in these granitoids is known to readily react with groundwater, facilitating substantial hydrogen generation under appropriate geothermal conditions. This reaction underscores the strategic geological significance of Nova Scotia's biotite-rich granitoids for natural hydrogen exploration and potential production. This process has been demonstrated and modelled in the Rhine graben (Alsace, France) where, for moderate temperatures of around 130-200oC, biotite produces good quantities of hydrogen (e.g. 102 KT of H2 per km3 of granite: Murray et al., 2020). Given the favorable geothermal gradient in Cumberland, these temperatures could easily be reached, enabling hydrogen production by oxidation of the Fe2+ contained in biotite."
Cumberland sector:
The geological context of Nova Scotia includes lithological, structural and geophysical features conducive to the formation of hydrogen or helium. The Cumberland Basin area (Fig. 1), in particular, is a convergence zone bringing together several critical elements conducive to the formation and accumulation of natural hydrogen in a context showing certain similarities with the geological context of the hydrogen discovery in the Lorraine region of France. This area is characterized by the presence of the Cobequid Highlands.
Figure 1: Location map of the Cumberland project in Nova Scotia and other hydrogen exploration properties of QIMC and its partners. Figure modified from Google Map.
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The sedimentary geology of the Cumberland area, adjacent to the Cobequid Highlands, is characterized at surface by the presence of Late Carboniferous geological units of the Cumberland Group (Ragged Reef Fm, Polly Brook Fm) and stratigraphically underlying rocks of the Windsor and Mabou Groups. Rock units in the basin include continental detrital sedimentary rocks, coal formations (e.g. Springhill) and evaporites (Windsor Group). These rocks are underlain by older bedrock rich in Neoproterozoic potassic granitoids, mafic volcanics and intrusives, diorites and Carboniferous potassic granites (Pe-Piper et al., 1989; Pe-Piper and Piper, 2002). These rocks are cut by local or regional faults. The Cobequid-Chedaducto fault zone, south of the Cobequid Highlands, cuts across much of Nova Scotia and separates the Avalon terrain to the north and the Meguma terrain to the south (Fig. 2). The latter are components of the Northern Appalachians. This structural zone is thought to be the upper part of a larger structure known as the Minas Geofracture. This geological structure, reactivated several times in the Paleozoic, is thought to have been involved, among other things, in the emplacement of basaltic magmas that support the hypothesis of the presence of a transcrustal fault that could reach the peridotitic lithospheric mantle. This mafic magmatism, associated with the effusion of 1,500 m of volcanic rocks (continental tholeiites) (Dessureau et al., 2000), is of great importance for the production of natural renewable hydrogen through the interaction of groundwater and minerals such as olivine, pyroxenes and magnetite.
Figure 2: Simplified geological map of Nova Scotia's Carboniferous and Triassic sedimentary basins. Source: NSDNR, 2006.
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The presence of an imposing succession of sedimentary rocks (over 7 km) in the Cumberland Basin is a favorable feature for natural hydrogen exploration, given the presence of porous, permeable rocks interbedded with impermeable rocks such as shales and evaporites (salt formations of the Windsor Fm). The formation of anticlinal structures by the rise of salt diapirs is, among other things, conducive to the formation of hydrogen and helium gas deposits. The presence of salt formations offers the potential for gas storage in the Cumberland Basin.
With its thick succession of sedimentary rocks and relatively high geothermal gradient, the Cumberland Basin is also recognized for its geothermal potential (Comeau et al., 2020). In a context of hydrogen production, through reactions between groundwater and minerals such as olivine, magnetite and biotite, the presence of relatively warm water, at realistic depths, is one of the characteristics sought for natural hydrogen production. The presence of a granitic basement rich in K, Th and U is also conducive to the production of radiolytic hydrogen and crustal radiogenic helium.
References :
Comeau et al., 2020. Assessment of geothermal resources in onshore Nova Scotia. Offshore Energy Research Association (OERA). Open File Report ME 2021-003, 216 pages.
Dessureau, G., Piper, D.J.W., and Pe-Piper, G., 2000. Geochemical evolution of earliest Carboniferous continental tholeiitic basalts along a crustal-scale shear zone, southwestern Maritimes basin, eastern Canada. Lithos, Volume 50, Issues 1-3, Pages 27-50.
Murray, J., Clément, A., Fritz, B., Schmittbuhl, J., Bordmann, V., Fleury, J.M., 2020. Abiotic hydrogen generation from biotite-rich granite: A case study of the Soultz-sous-Forêts geothermal site, France. Applied Geochemistry.
Murphy, G.B., Pe-Piper, G., Piper, D.J.W, Nance, R.D. and Doig, R., 2001. Geology of the Eastern Cobequid Highlands, Nova-Scotia. Geological Survey of Canada, Bulletin 556, 62 pages. NSDNR, 2006. Geological map of the province of Nova Scotia, Scale 1:500 000, Compiled by J. D. Keppie, 2000. Digital Version of Nova Scotia Department of Natural Resources Map ME 2000-1. DP ME 43, Version 2.
Pe-Piper, G., 1991. Granite and associated mafic phases, North River pluton, Cobequid Highlands, Nova Scotia. Atlantic Geology, 27, 15-28.
Pe-Piper, G., Murphy, J.B. and Turner, D.S., 1989. Petrology, geochemistry, and tectonic setting of some Carboniferous plutons of the eastern Cobequid Hills. Atlantic Geology, 25, 37-49.
Pe-Piper, G. and Piper, D. J.W., 2002. A synopsis of the geology of the Cobequid Highlands, Nova Scotia. Atlantic Geology, 38, 145-160.
White, C. E., Archibald, D. B. MacHattie, T. G and Escarraga, E. A. 2011. Preliminary Geology of the Southern Antigonish Highlands, Northern Mainland Nova Scotiain Mineral Resources Branch, Report of Activities 2010; Nova Scotia Department of Natural Resources, Report ME 2011-1, p. 145-164.
M. Richer-LaFlèche is the Qualified Person responsible for the technical information contained in this news release and has read the information contained herein. He is a professional geologist registered with the Ordre des géologues du Québec and is the Qualified Person responsible for the technical information contained in this news release and has read the information contained herein and approves the press release.
For more information about Quebec Innovative Materials Corp. and its products, please visit www.qimaterials.com.
About Québec Innovative Materials Corp.
Québec Innovative Materials Corp. is a mineral exploration and development company dedicated to exploring and harnessing the potential of Canada's abundant resources. With properties in Ontario and Québec, QIMC is focused on specializing in the exploration of white (natural) hydrogen and high-grade silica deposits. QIMC is committed to sustainable practices and innovation. With a focus on environmental stewardship and cutting-edge extraction technology, we aim to unlock the full potential of these materials to drive forward clean energy solutions to power the AI and carbon-neutral economy and contribute to a more sustainable future.
QUÉBEC INNOVATIVE MATERIALS CORP.
John Karagiannidis
Chief Executive Officer
For further information, please contact:
Email: info@qimaterials.com
Tel: +1 514-726-7058
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the CSE policies) accepts responsibility for the adequacy or accuracy of this news release and has neither approved nor disapproved the contents of this news release.
Forward-Looking Statements
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 Québec Innovative Materials' 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.
Although Québec Innovative Materials believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by their nature, forward-looking statements involve assumptions, 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.
Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions in Canada and abroad; adverse industry events; future legislative and regulatory developments in the natural resources sector, in particular as regards the regulation of white (natural) hydrogen exploration, development and exploitation; the Company's ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; natural resources industry and markets in Canada and generally; the ability of Québec Innovative Materials to implement its business strategies; competition; and other assumptions, risks and uncertainties.
The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.
Cautionary Statements This news release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian securities legislation. These statements are based on expectations, estimates, and projections as of the date of this release. Forward-looking statements involve risks and uncertainties, which may cause actual results to differ materially from current expectations. Readers are cautioned not to place undue reliance on these statements, as no assurance can be provided regarding future outcomes.