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Total Helium Provides Update on Joint Venture for Large Scale Helium Production in Arizona and Financing
Total Helium Provides Update on Joint Venture for Large Scale Helium Production in Arizona and Fi...
About this update from Altura Energy Corp
[{"type":"text","content":"\n \n \n \n Total Helium Provides Update on Joint Venture for Large Scale Helium Production in Arizona and Financing\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO\n \n THE UNITED STATES\n \n /\n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n April 5, 2023\n \n \n /CNW/ -\n \n Total Helium Ltd.\n \n (TSXV: TOH)\n \n ,\n \n (OTCQB: TTLHF) (\"\n \n Total Helium\n \n \" or the \"\n \n Company\n \n \") announces that it has reached an agreement to amend (the \"\n \n Amendment\n \n \") the definitive purchase and sale agreement (the \"\n \n Purchase Agreement\n \n \") for a joint venture in the Pinta South Helium Project in Arizona.  The Purchase Agreement, dated effective\n \n January 17, 2023\n \n , was previously entered into between Brooks Range Corporation, a wholly-owned subsidiary of the Company, Pinta South Operating Company, LLC, Butler Minerals I, LLC and Mid America Exploration LLC (collectively, the \"\n \n Vendors\n \n \") and provides for the acquisition (the \"\n \n Transaction\n \n \") of an interest in existing helium production as well as a working interest in a large-scale helium exploration and production program in the\n \n Holbrook\n \n Basin (the \"\n \n Pinta South Project\n \n \").\n \n \n Pursuant to the terms of the Transaction, the Company will acquire a 20% interest in 2 producing wells and a 50% interest in eight additional existing wells which are being connected to a helium processing plant for a total purchase price of\n \n US$12,000,000\n \n (the \"\n \n Purchase Price\n \n \").  Under the terms of the Amendment, the Purchase Price will now be satisfied upon completion of the Transaction through a one-time cash payment of\n \n US$9,000,000\n \n and the issuance of 8,108,110 common shares of the Company (the \"\n \n Consideration Shares\n \n \") at a deemed price of\n \n $0.50\n \n per Considera...