CALGARY, Alberta, Aug. 29, 2025 (GLOBE NEWSWIRE) — Helium Evolution Incorporated (TSXV:HEVI) (“HEVI” or the “Company“), a Canadian-based helium exploration company focused on developing assets in southern Saskatchewan, is pleased to announce the closing of the a convertible note with a face value of $8.3 million (the “Note“), as announced on August 26, 2025.
Proceeds from the Note will be used to fund HEVI’s 20% working interest in the 12 million standard cubic feet per day (raw gas volumes) helium processing facility in the Mankota area, located at 1-2-4-9W3 (the “Soda Lake Facility“). In addition, the Note proceeds will fund HEVI’s drilling of new wells and related development activities in the Mankota area, with a winter drilling campaign anticipated to commence in the fourth quarter of 2025 and continue into the first quarter of 2026.
Q2-2025 Results
The Company also announces the filing of the Company’s interim condensed financial statements and associated management’s discussion and analysis for the three and six months ended June 30, 2025 (the “Q2 Report“).
Complete details of the Q2 Report are available on SEDAR+ at www.sedarplus.ca, and on HEVI’s website.
| Three months ended | Six months ended | |||
| Tabular amounts in thousands of Canadian Dollars, except share and per share amounts |
June 30, 2025 | June 30, 2024 | June 30, 2025 | June 30, 2024 |
| Financial | ||||
| Net loss | 196 | 254 | 871 | 493 |
| Net loss per share, basic and diluted | 0.00 | 0.00 | ||