Global Helium Adds Executive Director with 500K Investment Global Helium Adds Executive Director with Concurrent $500,000 Strategic Investment
Global Helium Corporation
CALGARY, Alberta, May 24, 2022 (GLOBE NEWSWIRE) -- Global Helium Corp. (CSE: HECO) (OTC: HECOF) (the “Company” or “Global”), one of Canada’s largest helium exploration and development companies, is pleased to announce the appointment of Mr. Jesse Griffith to the board of directors. Mr. Griffith will immediately begin transitioning into the role of President and will be active in all day-to-day operational aspects of the Company. Additionally, Mr. Griffith is making a $500,000 strategic investment into the Company.
Mr. Griffith was previously the founder and Vice President of Crestwynd Exploration Ltd., which was recently acquired for more than $200 million by a major publicly listed company. The majority of Mr. Griffith’s career to date has involved starting and growing businesses through M&A, land acquisition, exploration and execution.
Mr. Griffith has progressed over 17 years in the oil and gas industry in the capacity of founder, executive management, business development, exploration, operations, land management, legal responsibilities, asset evaluation and corporate evaluation. He has been intimately involved in the early-stage growth and development of several upstream oil and gas companies in Canada and the United States. He has developed a strong working knowledge of the helium industry through his extensive relationships and personal interest in helium.
Wes Siemens, current President of Global, will continue to work hand-in-hand with Mr. Griffith and will remain active with the Company for the long term as a director and trusted technical advisor to the Company.
Mr. Siemens stated, “Jesse’s appointment could not have come at a more exciting time for Global. As we enter the United States through strategic acquisitions and start planning a significant drilling program in North America, we intend to make Global a helium production Company in the near future. As a significant shareholder of Global, I am excited to have recruited an aggressive, experienced operator in Jesse to help lead the Global team. As he transitions into the role, I will continue to actively fulfil a technical and operational function, where needed. Adding Jesse to the team is a big win for Global shareholders, who should expect significant and expedient progress.”
The Company recently announced its entry into Montana with a large acquisition of assets proven to contain helium. As such, Mr. Griffith’s short-term objectives include:
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Immediate pursuit of additional acquisitions of helium-proven properties in the United States
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Expanding the Company’s already considerable 1,500,000-acre position in Canada
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Analyzing and acting on results from Global’s nearly completed seismic program
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Preparation of surface leases, applicable permits and readying the Company to drill multiple wells
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Drilling and testing of multiple wells identified on the Company’s lands
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Proving helium content and flowrates, capable of sustainable, long-term helium production
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Securing engineering proposals for the design and installation of helium processing equipment
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Achieving helium production and executing helium offtake agreements with existing and new downstream partners
Brad Nichol, CEO of Global, noted, “I have known and worked with Jesse for 15 years and can attest firsthand to his professionalism and performance. I have rarely witnessed another with the capacity to produce positive outcomes at the pace that Jesse has consistently delivered. He is coming off a significant success and brings a vast network and incredible energy with him – not to mention his eagerness to invest significantly in the Company on his first day. There are few others in the industry that I would entrust with our aggressive agenda and Jesse was top of the list.”
Concurrent with Mr. Griffith’s appointment, the Company is closing a strategic, non-brokered private placement for gross proceeds of $500,000 from the sale of 1,562,500 units of the Company (“Units”) at a price of $0.32 per Unit (the “Financing”). Each Unit consists of one common share and one share purchase warrant, with each warrant exercisable into one common share at $0.42 for a three-year term. Mr. Griffith and/or his affiliates are responsible for the entirety of subscriptions associated with this strategic financing. The Financing is expected to close on or about May 25, 2022 and is subject to the Company receiving all necessary regulatory and Exchange approvals. The securities issued under the Financing will be subject to a four month hold period under applicable Canadian securities laws.
ON BEHALF OF THE BOARD OF GLOBAL HELIUM CORPORATION
“Brad Nichol”
Brad Nichol
CEO and Chairman of the Board
For more information:
Walter Spagnuolo, Investor Relations
Tel: +1 (877) 816 8163
relations@globalhelium.com
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