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First Helium Receives $1.2 Million for 1-30 March Production and $485k More in Warrant Exercises
First Helium Receives $1.2 Million for 1-30 March Production and $485k More in Warrant Ex...
About this update from First Helium Inc.
[{"type":"text","content":"\n \n \n \n First Helium Receives $1.2 Million for 1-30 March Production and $485k More in Warrant Exercises\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 Company also Received DTC Eligibility Approval\n \n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n April 27, 2022\n \n \n /CNW/ -\n \n First Helium Inc. (\"First Helium\" or the \"Company\")\n \n (TSXV: HELI) (OTCQB: FHELF) (FRA: 2MC), today announced that it has received cash proceeds of approximately\n \n $1,200,000\n \n for March light oil production from the 1-30 well and an additional\n \n $485,000\n \n in warrant exercise proceeds. The Company also announced that it has become DTC eligible in the U.S. which should expand market access for its U.S. investors.\n \n \n \n \n \n \n \n \n \n \"Total cash proceeds of approximately\n \n $485,000\n \n from the early exercise of warrants along with cash flow from the 1-30 well continue to strengthen our balance sheet and those funds will be deployed to ongoing helium exploration activities at our Worsley Property and our Southern Alberta Helium Fairway exploration land,\" said\n \n Ed Bereznicki\n \n , President & CEO of First Helium.  \"The U.S. market for investment in helium projects is potentially very large given that Nation's long-time position as a leading global producer of helium.  Achieving DTC eligibility in the U.S. is an important step for the Company as it enables U.S. investors to more readily trade the Company's common shares,\" added Mr. Bereznicki.\n \n \n Strong cash flow continued through the receipt of payments of approximately\n \n $1,200,000\n \n for light oil volumes delivered during March from the\n \n \"1-30\"\n \n well which is located on First Helium's 100% owned, 79,000 acre Worsley landholdings in\n \n Northern Alberta\n \n , Canada.  The 1-30 well was brought on-stream on\n \n January 23, 2022\n \n , and produced an average of approximately 430 barrels per day (\"bbls/d\") of light oil during the month of March.\n \n \n In addition, during the ...