Helium Evolution closes $25M private placement with new investors

Helium Evolution Incorporated (TSXV: HEVI, OTCQB: HEEVF), a Calgary-based helium exploration company focused on southern Saskatchewan, closed a $25 million private placement on Aug. 24, 2026, according to a company press release.

The company issued 166,666,667 units at $0.15 per unit. Each unit consists of one common share and one warrant exercisable at $0.30 for three years from the closing date. New international investors accounted for $23.7 million of the total raise, with insiders contributing $230,000 and other investors making up the remainder.

Three investors each acquired 49,310,000 common shares and 49,310,000 warrants, representing approximately 15.0% of outstanding common shares on a non-diluted basis. Those investors are Henry Maxey, acting through Oberon Investments in London; Alan Howard, based in London; and Tough Investments Limited, based in Jersey. Each paid $7,396,500 for their respective positions.

Maxey also entered into a pro rata participation and board nomination agreement, granting him the right to appoint a nominee to the Helium Evolution board of directors as long as he holds at least 10% of the company's common shares. Howard and Tough Investments Limited entered into pro rata participation agreements only.

Helium Evolution also issued 6,317,200 finder's warrants to Auctus Advisors LLP and paid a cash fee of $1,184,475 in connection with the placement. All securities issued are subject to a four-month hold period.

The company said proceeds are intended to fund exploration and development activities across its Saskatchewan helium assets, advance drilling and infrastructure initiatives, and cover general corporate purposes.

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