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Imperial Helium Corp is pleased to announce closing of the Bridge Financing Round

January 8, 2021  |   by   Kyle Hookey
Announcements

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 (khookey@imperialhelium.ca).