First Helium Inc. Announces Private Placement to Raise C$2 Million

First Helium Inc. has announced a non-brokered private placement financing, intending to raise C$2 million. The offering consists of 40 million units at a price of $0.05 per unit. Each unit includes one common share and one transferrable warrant, exercisable at $0.10 to $0.15 per share over 36 months, subject to an acceleration clause.

Proceeds from the offering will fund the Worsley project's asset development and operating expenses, along with general working capital. Participation by certain insiders is expected, and the transaction is exempt from some formal requirements. Regulatory approvals, including TSX Venture Exchange acceptance, are needed for closure.

The company outlines potential warrant expiry acceleration if stock prices rise, with unexercised warrants expiring without compensation. Securities are under a four-month hold, in line with Canadian laws.