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First Helium Completes $12 Million in Financings in Preparation for Public Listing

Maxis Law represented First Helium with a team that included Michael Varabioff, Helen Racic and Sean Hawkins

On March 19, 2021, First Helium Inc. (“First Helium”) completed $9.2 million in subscription receipt offeringa.  The offering syndicate was led by Echelon Wealth Partners Inc. and included Cormark Securities Inc. and Canaccord Genuity Corp.  (collectively, the “Agents”).  The Agents were represented by Fasken Martineau DuMoulin LLP (Calgary).  This offering followed on the heels of a $2.8 million convertible debenture offering.  First Helium is in the process of filing a prospectus in multiple Canadian jurisdictions to qualify the distribution of the underlying securities, and is seeking a listing of its shares on the TSX Venture Exchange.

First Helium is a private helium exploration, production and development company operating in the Worsley area, located near Grande Prairie, Alberta, Canada.  It was founded to capitalize on the untapped helium potential of Western Canada in response to the shifting supply dynamics of the global helium marketplace.  Building on its successful helium discovery well, which has production tested at over 1.3% helium content over three long term period tests, First Helium is working to develop its 118 section land base along the highly prospective Worsley Helium Trend. To establish its operating base, First Helium seeks to market its helium gas into the North American helium market via term off-take marketing arrangements with established helium distribution companies. For more information, go to