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Royal Helium Ltd. has completed its acquisition of Imperial Helium Corp. under a plan of arrangement approved by Imperial shareholders on July 12, 2022, and confirmed by the Supreme Court of British Columbia on July 15, 2022. Shareholders received 0.614 Royal shares for each Imperial common share. Following the transaction, Imperial's shares will be delisted from the TSX Venture Exchange. Royal now focuses on commercializing its Climax and Steveville helium fields, with stable helium prices enhancing its prospects as a leading North American producer.
Imperial Helium Corp. has received final court approval for its arrangement with Royal Helium Ltd., allowing Royal to acquire all issued shares of Imperial. The arrangement was approved by Imperial shareholders on July 12, 2022, and is expected to close around July 22, 2022. Under the agreement, shareholders will receive 0.614 of a Royal common share for each Imperial share held. This strategic move is positioned to enhance Imperial's role in the helium supply sector.
Imperial Helium Corp. announced shareholder approval for a plan of arrangement to be acquired by Royal Helium Ltd. Shareholders will receive 0.614 Royal common shares per Imperial share. The arrangement required 66.67% approval, which was surpassed with 86.72% of votes in favor. A final order from the British Columbia Supreme Court is expected on July 15, 2022, with the arrangement closing anticipated around July 22, 2022. This acquisition aims to enhance Imperial's helium supply capabilities in response to increasing global demand.
Imperial Helium Corp. announces the immediate resignation of Dr. David Johnson from its Board of Directors, although he will remain President and CEO until the closure of a planned arrangement with Royal Helium Ltd. A shareholder meeting to approve this arrangement is scheduled for July 12, 2022, and the deal is expected to close by July 31, 2022, pending necessary approvals and conditions. Imperial aims to be a key helium supplier, addressing global shortages critical for various industries including healthcare and electronics.
Imperial Helium Corp. (TSXV: IHC) has announced a special meeting for shareholders on July 12, 2022, to vote on a proposed arrangement with Royal Helium Ltd.. Under this plan, Royal will acquire all Imperial Shares, offering shareholders 0.614 of a Royal common share for each Imperial share held. The meeting materials have been distributed, with the record date set for June 1, 2022. The Board and a special committee recommend approval of the arrangement, which requires two-thirds majority support. The arrangement is expected to close by July 31, 2022.
Royal Helium Ltd. (TSXV: RHC) and Imperial Helium Corp. (TSXV: IHC) have agreed to an acquisition deal dated May 2, 2022. Under this arrangement, Imperial shareholders will receive 0.614 shares of Royal for each share held, reflecting a 10.01% premium based on closing prices as of April 29, 2022. This merger aims to create a larger helium entity, enhancing capital access and production capabilities while decreasing administrative costs. The transaction is contingent upon shareholder and regulatory approvals, with an expected special meeting in June 2022.
Imperial Helium Corp. (OTCQB: IMPHF) confirms raw gas deliverability of 10-15 MMcf/d from its first two wells in the Steveville Asset. The IHC-Steveville-2 and IHC-Steveville-3 wells demonstrate deliverability capacity for over three years before a potential 15% annual decline. The company is moving forward with plans for a production facility capable of processing this output. Initial tests show helium concentrations of 0.43% and 0.44% in the Blow-out Zone of both wells. The company anticipates advancing towards commercial production shortly.
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