SASKATOON, SK, Sept. 3,
2024 /CNW/ - Royal Helium Ltd. (TSXV: RHC) (TSXV:
RHC.WT.A) (OTCQB: RHCCF) ("Royal" or the "Company")
announces that Andrew Davidson has
resigned his position as Chief Executive Officer and as a Director
of the Company for personal reasons. Effective immediately Mr.
David Young has assumed the role of
Chief Executive Officer and has been appointed to the board of
directors of Royal.
Non-Executive Chair John Pringle
stated: "I want to thank and extend gratitude to Andrew for his
years of service, as well as the dedication and perseverance he has
shown in advancing Royal to the stage it is at. Andrew has worked
tirelessly to further the interests of Royal and all shareholders.
On behalf of all shareholders and our board we extend him best
wishes in his future endeavors, as we continue to focus on
increasing production from the Steveville facility and building a
world leading helium company."
I would also like to welcome David to the board and his new role
of Chief Executive Officer. David is well qualified to assume
leadership of Royal and has a wealth of relevant industry
experience to lead Royal through this crucial period. David Young has over twenty years' experience as
an investor and operator. Over the past decade, David has
been involved with numerous middle market as well as billion dollar
resource companies, including roles as an activist investor,
operator and board member. In addition, David has a wealth of
experience working in restructuring and turn-around situations,
including previous roles throughout his career at top global firms
including Houlihan Lokey, Perella
Weinberg Partners and The Carlyle Group."
Daivd Young states, "I am excited
to take on this new role and for the opportunity to join Royal's
Board and contribute toward the strategic realignment of the
Company's financial trajectory. Together, we will assemble and
synchronize a top-tier operational team, dedicated to optimizing
and fully actualizing Royal's substantial helium purification
infrastructure, ensuring its maximum potential is reached."
As part of this corporate transition, Royal also announces the
resignations of John Styles, VP
Engineering and Spiro Kletas VP
Investor Relations effective immediately. Royal's board of
directors are grateful for John and Spiro's contributions during
their time with the Company and wish them all the best.
About Royal Helium Ltd.
Royal Helium is a production, infrastructure, and exploration
company with a primary focus on the development of helium and
associated gases. The Company's extensive footprint includes
prospective helium permits and leases across southern Saskatchewan and southeastern Alberta.
Given the current and foreseeable global undersupplied nature of
this critical and non-renewable product, Royal is well positioned
to be a leading North American producer of this increasingly high
value commodity.
Royal's helium reservoirs are carried primarily with nitrogen.
Nitrogen is not considered a greenhouse gas (GHG) and therefore the
plant has a low GHG footprint when compared to plants in other
jurisdictions that rely on large scale natural gas production for
helium extraction. Helium extracted from wells in
Saskatchewan and Alberta can be up to 90% less carbon intensive
than helium extraction processes in other jurisdictions.
David Young
President and Chief Executive Officer
Royal Helium Ltd.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
INFORMATION
This news release includes certain statements that may be
deemed to be "forward-looking statements". All statements in news
this release, other than statements of historical facts, that
address events or developments that management of the Company
expects, are forward-looking statements. Although management
believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are
not guarantees of future performance, and actual results or
developments may differ materially from those in the
forward-looking statements. The Company undertakes no obligation to
update these forward-looking statements if management's beliefs,
estimates or opinions, or other factors, should change. Factors
that could cause actual results to differ materially from those in
forward-looking statements, include market prices, exploration and
development successes, continued availability of capital and
financing, and general economic, market or business conditions.
Please see the public filings of the Company at
www.sedar.com for further information.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
SOURCE Royal Helium Ltd.