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.
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