TSXV: HELIFRA: 2MC

Alberta-Based Helium Exploration and Development Company Offers Investors the Opportunity to Participate in the Natural Resource Sector with End Uses in the Healthcare, Scientific Research, Fiber Optic and Space Exploration Industries
 
 
Calgary, Alberta, Canada – July 8, 2021 – First Helium Inc. (“First Helium” or the “Company”) (TSXV: HELI), a helium exploration company with access to significant development opportunities across western Canada, is pleased to announce that, on June 28, 2021, the Company received a receipt for its final prospectus (the “Final Prospectus”) which was filed with the securities commissions in the provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and Nova Scotia in connection with the Company’s over-subscribed offering of subscription receipts (the “Brokered Offering”) and non-brokered convertible debenture private placement earlier this year for aggregate gross proceeds of $12 million (together with the Brokered Offering, the “Offerings”). The Final Prospectus qualifies the distribution of common shares and warrants issuable upon the conversion of previously issued securities under the Offerings, and broker warrants issuable to agents in connection with the brokered offering of subscription receipts.
 
The Brokered Offering was led by Echelon Wealth Partners Inc., as lead agent, and included Cormark Securities Inc. and Canaccord Genuity Corp. (collectively, the “Agents”) for aggregate gross proceeds of approximately C$9.2 million, including exercise of Agents’ overallotment option and a president’s list representing approximately C$1.7 million.
 
The automatic conversion of all subscription receipts and convertible debentures was completed on July 8, 2021 for no additional consideration, resulting in the issuance of an aggregate of 35,823,438 common shares and 22,709,291 warrants. Each warrant entitles the holder to purchase one additional common share at a price of $0.50 until July 12, 2023. All funds which were held in escrow in connection with the subscription receipt offerings were released to the Company and the Agents in accordance with applicable agreements. The Agents also received an aggregate of 1,709,687 broker warrants having the terms set out in the Final Prospectus. The Company now has 65,611,370 common shares outstanding.
 
First Helium has also received the conditional acceptance of the TSX Venture Exchange (the “Exchange”) to the listing of its common shares on the Exchange, subject to the satisfaction of standard listing conditions.  First Helium expects that the common shares will be listed and begin trading on the Exchange under the symbol “HELI” on July 12, 2021.
 
“The listing of our common shares for trading on the TSX Venture Exchange is a great milestone for the Company. First Helium offers investors the opportunity to participate in a unique industry in the natural resource sector, with end uses that enable key technologies in the scientific research, fiber optic, healthcare and space exploration industries, to name a few,” said Ed Bereznicki, CEO of First Helium. “On behalf of the Board of Directors and the Company’s senior management team, I would like to thank our staff, partners, shareholders and other stakeholders for all of their support along the way. The expected growth of our business is exciting  and it is a privilege to bring First Helium to the public markets,” added Mr. Bereznicki.
 
 
ABOUT FIRST HELIUM
 
First Helium is a helium exploration and development company operating in the Worsley area, north of Grande Prairie, in Alberta, Canada.  It was founded to capitalize on the untapped potential of significant helium resources in Western Canada, in response to the shifting supply dynamics of the global marketplace. Building on its successful discovery well, which has production tested at over 1.3% of helium content over three long term test periods, First Helium is working to develop its 125 Section land base along the highly prospective Worsley Helium Trend. To establish its operating base, First Helium seeks to market its helium gas into the North American market via term off-take marketing arrangements with established third-party distribution companies.
 
For more information about the Company, please visit www.firsthelium.com. The Company’s final prospectus, financial statements and management’s discussion and analysis, among other documents, are all available on its profile page on SEDAR at www.sedar.com.
 
ON BEHALF OF THE BOARD OF DIRECTORS
 
Edward J. Bereznicki
President, CEO and Director
 
CONTACT INFORMATION
 
First Helium Inc.
Investor Relations
Email: ir@firsthelium.com
Phone: 1-833-HELIUM1 (1-833-435-4861)
 
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.
 
FORWARD-LOOKING AND CAUTIONARY STATEMENTS
 
This news release contains certain statements or disclosures relating to First Helium that are based on the expectations of its management as well as assumptions made by and information currently available to First Helium which may constitute forward-looking statements or information (“forward-looking statements”) under applicable securities laws. All such statements and disclosures, other than those of historical fact, which address activities, events, outcomes, results or developments that First Helium anticipates or expects may, or will occur in the future (in whole or in part) should be considered forward-looking statements. In some cases, forward-looking statements can be identified by the use of the words “expect”, “will” and similar expressions. In particular, but without limiting the foregoing, this news release contains forward-looking statements pertaining to the listing of the Common Shares on the Exchange, the use of funds and the Company’s strategy.  The forward-looking statements contained in this news release reflect several material factors and expectations and assumptions of First Helium including, without limitation: that First Helium will continue to conduct its operations in a manner consistent with past operations; the general continuance of current or, where applicable, assumed industry conditions; availability of debt and/or equity sources to fund First Helium’s capital and operating requirements as needed; and certain cost assumptions.
 
Forward-looking statements are based on estimates and opinions of management at the date the statements are made and are subject to risks, uncertainties and assumptions, including those set out in the Final Prospectus dated June 28, 2021 and filed under the Company’s profile on SEDAR at www.sedar.com. First Helium does not undertake any obligation to update forward looking statements, except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.