Imperial Helium Corp is pleased to announce Closing of the Seed Financing Round
Imperial Helium Corp. today announced the closing of a non-brokered common share equity financing of approximately CAD$700,000. Proceeds from the financing will be used to undertake granular analysis for the foundational asset as well as target definition for a pipeline of future targets.
Imperial are utilising the premier proprietary Canadian helium database compiled with its partner, Petrel Robertson Consulting Ltd. Imperial will acquire existing oil and gas wells in the Western Canadian Sedimentary Basin, targeting well bores that have a helium concentration of greater than 0.5%. Preliminary work indicates attractive targets that have existing infrastructure, low capex and realistic production cash flow within 24 months.
“The success of this raise allows us to advance the Company toward acquiring our foundational asset(s) and put together the pieces to development strategic alliances with an EPC group and specialist midstream companies” stated David Johnson, Imperial’s CEO.
Given the current interest in helium caused by supply demand imbalance and the resulting rise in helium prices, Imperial will be looking to progress to asset acquisition by 4Q2020 and list on complete an IPO financing in 1Q 2021.