Global Helium Corp.’s Acquisition is Officially Closed
CALGARY, Alberta – Recently, Global Helium Corp. (CSE: HECO) has announced a significant milestone; it has completed the acquisition process led by 2679158 Alberta Ltd. as outlined in the arrangement under section 193 of the Business Corporations Act. This acquisition includes all issued shares of the Company, encompassing Class A Common Shares and various series of preferred stock.
Shareholder Participation and Resolutions
A substantial number of Shareholders have embraced the new direction, with 31,190,215 Shares seeing cash consideration of about $1,559,510.75, translating to $0.05 per share. Additionally, 32,299,621 Shares opted for an exchange to common shares of the Purchaser, marking high engagement in this transaction.
Annual General and Special Meeting
On a noteworthy occasion, an annual general and special meeting was convened where shareholders voted overwhelmingly in favor of the Arrangement Resolution. A staggering 97.4% of participants supported the resolution, reflecting a strong consensus on the future of the Company.
Final Approval and Next Steps
With the necessary approvals secured, the Company's directors are set to finalize all critical steps. Shortly after, on a designated date, the Court of King's Bench of Alberta granted the final order, providing the necessary legal backing to this acquisition.
Delisting from the Securities Exchange
As this transaction progresses, the common shares of Global Helium Corp. are anticipated to be delisted from the Canadian Securities Exchange and the OTC Pink Markets in the upcoming weeks. Furthermore, the Company plans to file for cessation as a reporting issuer across relevant Canadian provinces, marking a new chapter in its operations.
Understanding the Arrangement
This arrangement is a pivotal moment for Global Helium Corp., showcasing its determination to reshape its structure and operations for the future. For detailed insights, shareholders can review the management information circular dated earlier this year, accessible through the relevant regulatory platforms.
About Global Helium Corp.
Global Helium Corp. is dedicated to the exploration and production of helium, a rare and valuable resource. Through strategic partnerships, including a notable farm-in agreement with Rubellite Energy Inc., the Company is positioned to access expansive resources across approximately 369,000 acres in Alberta. This strategic collaboration underscores the Company’s commitment to advancing its helium development initiatives.
Contact Information
For further inquiries or detailed discussions, please reach out to:
Tom Cross, Chief Financial Officer
Global Helium Corp.
Email: tcross@globalhelium.com
Phone: 403-975-7742
Frequently Asked Questions
What does the acquisition mean for Global Helium Corp.?
The acquisition marks a structural change, indicating a focus on streamlined operations and potential growth without the pressures of public reporting.
What will happen to the shares of Global Helium Corp.?
The common shares are expected to be delisted from the CSE and OTC Pink Markets shortly after the agreement is finalized.
Who approved the acquisition?
The acquisition received overwhelming approval from shareholders during a recent meeting, showcasing a strong consensus in favor of the transaction.
How can shareholders stay informed about future developments?
Shareholders can refer to the management information circular and stay in touch with the Company's communications for updates.
What is Global Helium Corp.'s primary focus moving forward?
The Company will concentrate on helium exploration and production, leveraging strategic partnerships to enhance its market position.
