Imperial Helium Corp is pleased to announce closing of the Bridge Financing Round
Further to the announced Bridge Financing (Imperial Helium Corp is pleased to announce a Bridge Financing Round of CAD$1.0m, December 1, 2020), Imperial Helium Corp. (“Imperial“ or the “Company”) is pleased to announce closing of the Bridge Financing with proceeds of approximately CAD$1.50m. Proceeds from the financing will be used to complete acquisition payment for Imperial’s foundation asset, cover IPO costs and production testing expenses.
Key terms of the financing include:
- Total Raised: CAD$1.51m
- Security: Unsecured Convertible Debt
- Yield: 10% yield
- Term: 18 months from close
- Conversion Mechanism: Automatic conversion to common equity upon IPO at a 20% discount to IPO price
- Restrictions: Free trading on IPO
David Johnson, CEO, commented “the significant support we have seen during this transaction puts us in good stead to move Imperial forward. By attracting and closing $0.5m more than we had originally contemplated, on the basis of a strong foundation asset, we continue to de-risk our business and hence our strategy”.
For more information on Imperial, the transaction or our strategy, please contact Kyle Hookey, VP Corporate Finance (firstname.lastname@example.org).