CALGARY, Alberta, Oct. 12, 2021 (GLOBE NEWSWIRE) -- Global Helium Corp. (CSE: HECO) (OTC: HECOF) (the “Company” or “Global”), one of Canada’s largest helium exploration and development companies, is pleased to announce it has completed a series of acquisitions in southern Saskatchewan, pushing the Company’s 100%-owned acreage to beyond one million acres.
Global Helium is currently holding over $9 million in cash on the balance sheet and is now Canada’s second largest land holder of helium rights. Global enjoys 100% ownership combined with royalties of less than 5% (in effect, better than a 95% Net Revenue Interest).
“This additional helium-specific acreage represents a 50% increase to our previous land position, making Global the second largest acreage holder in the heart of Saskatchewan’s helium fairway,” stated Wes Siemens, Global’s President. “Our geological and geophysical teams are working to rapidly move our prospects to the drill stage and to advance the geological evaluation of our massive land base.”
The Company’s holdings are in Saskatchewan’s famed “helium fairway,” home to most of Canada’s helium reserves and production; and where helium has been tested and produced in concentrations of over 2% since the 1960’s. The original helium discoveries were made pre-1960 as early explorers for oil and natural gas in Saskatchewan found “inert, non-flammable or non-combustible gas” containing primarily helium and nitrogen.
Helium and nitrogen are both inert, non-combustible gases, often discovered by mistake by oil and gas exploration companies hoping to make very large natural gas discoveries.
Global’s latest land acquisition has increased the Company’s first core area northeast of Swift Current to 285,549 ha (705,607 acres). Large geological structures have been long known to exist in the area and were proposed for helium exploration in 1960. One such structure on Global’s land, the Lawson Structure, shows four-way closure up to 17,000 acres and is a potential structural trap for helium. This feature was drilled in 1944 by Imperial Oil and review of the available well data showed the well recovered “non-combustible gas” and is prospective for helium. Global recently integrated the seismic that was acquired and purchased earlier this year and has identified at least five significant structures (see news release dated October 6, 2021). Global is currently planning a seismic program for the coming winter to confirm a multi-well drilling program to commence in 2022 or earlier.
The Company’s second core area is in south-central Saskatchewan, approximately 150 km south of Regina comprising 55,835 ha (137,972 acres). The acreage is highly prospective for helium where there are multiple formations and targets. The new acreage flanks recent announcements from industry where five drilling targets have been identified. In addition, there are a number of adjacent wells that have tested helium ranging from 1.4% to 2.45%.
Global’s third core area is along the Montana/Saskatchewan border, consisting of 75,024 ha (185,388 acres). This attractive acreage sits in the middle of two recent competitive helium discoveries at Eastbrook and Climax, Saskatchewan. In addition, high percentage helium tests have been recorded in Montana where significant industry activity is also underway.
Combined, Global has increased its total land holdings in Saskatchewan to 416,408 ha (1,028,967 acres) and is still in acquisition mode, adding new highly prospective acreage on a monthly basis. The Company’s three Canadian core areas provide significant helium prospectivity over a variety of targets and risk profiles.
Additionally, the Company is pleased to announce it has engaged Invictus Investor Relations Inc. (“Invictus”) to provide investor relations services pursuant to an investor relations consulting agreement dated October 1, 2021 (the “Consulting Agreement”).
The Consulting Agreement has an initial 12-month term (which may be terminated by the Company upon 30 days written notice) and is renewable at the mutual agreement of both parties. Invictus will be paid a monthly fee of $7,500 plus applicable taxes and will be reimbursed for reasonable out-of-pocket expenses, if any.
Services under the Consulting Agreement will be provided by Walter Spagnuolo, President of Invictus. Mr. Spagnuolo currently holds 184,615 shares of the Company and has no other direct or indirect interests in the Company.
Invictus is a full-service investor relations firm headquartered in Vancouver that assists small cap public companies with communication activities, focused on the investment community. Invictus will assist Global Helium with enhancing awareness by managing corporate communications and marketing activities to achieve an effective flow of information between the Company and shareholders, finance professionals, analysts and the media.
The Consulting Agreement is subject to the approval of the Canadian Securities Exchange.
ON BEHALF OF THE BOARD OF GLOBAL HELIUM CORPORATION
“Wes Siemens”
Wes Siemens, P.Eng.
President
For more information:
Walter Spagnuolo, Investor Relations
Tel: +1 (877) 816 8163
relations@globalhelium.com
About Global Helium (CSE: HECO) (OTC: HECOF)
Global Helium is an exploration stage company focused on the exploration, acquisition, development, and production of helium to meet the needs of increasing helium demand and shrinking helium supply in North America and around the world. The Company has a seasoned team of industry professionals and technical experts and has established connections with North American and international helium buyers. Together, the team has captured 100%-owned permits encompassing over 1 million acres prospective for helium in Saskatchewan’s well-established helium fairway.
Find out more at: https://globalhelium.com/.
Forward-Looking Statements
No securities regulatory authority has reviewed nor accepts responsibility for the adequacy or accuracy of the content of this news release.
This news release contains forward-looking statements and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this internal announcement are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include the failure to satisfy the conditions of the relevant securities exchange(s) and other risks detailed from time to time in the filings made by the Company with securities regulators. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this internal announcement are expressly qualified by this cautionary statement. The forward-looking statements contained in this internal announcement are made as of the date of this internal announcement and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.
