SASKATOON, SK, Oct. 3, 2023 /CNW/ - Royal Helium Ltd. (TSXV: RHC) (OTCQB: RHCCF) ("Royal" or the "Company") is pleased to announce the results of the Company's Annual General and Special Meeting of shareholders (the "Meeting") which was held today. All matters presented to shareholders for approval as set out in the Company's notice of meeting and management information circular dated September 6, 2023 (the "Circular") were approved by an overwhelming majority of the votes cast by the Company's shareholders at the Meeting. Resolutions approved were to fix the number of directors of the Company at eight, the appointment of KPMG LLP, Chartered Professional Accountants as auditors of Royal, the approval of the Company's equity incentive compensation plan in accordance with TSX Venture Exchange Policy 4.4 – Security Based Compensation (the "TSXV Policy") and the approval of amendments to the articles of Royal. The voting results for the election of the directors of the Company were as follows:
|
Director
|
Votes For #
|
Votes For %
|
Withheld
|
Votes Withheld %
|
|
Andrew Davidson
|
33,738,604
|
96.90 %
|
1,080,336
|
3.10
|
|
John Pringle
|
34,307,504
|
98.53 %
|
511,436
|
1.47
|
|
Jeffrey Sheppard
|
33,813,748
|
97.11 %
|
1,005,192
|
2.89
|
|
Martin Wood
|
34,234,180
|
98.32 %
|
584,760
|
1.68
|
|
Sylvain Laberge
|
34,266,343
|
98.41 %
|
552,597
|
1.59
|
|
R. Campbell Becher
|
34,283,178
|
98.46 %
|
535,762
|
1.54
|
|
Samuel Kyler Hardy
|
33,949,036
|
97.50 %
|
869,904
|
2.50
|
|
Karl Kurz
|
34,306,755
|
98.53 %
|
512,185
|
1.47
|
Voting results for the other items of business at the Meeting, all as more particularly described in the Circular, were as follows:
|
Votes For #
|
Votes For %
|
Against
|
Votes Against %
|
|
Fixing the Number of Directors at Eight
|
38,878,188
|
97.93
|
820,600
|
2.07
|
|
*Approval of the Equity Incentive Compensation Plan
|
16,972,060
|
67.90
|
8,023,438
|
32.10
|
|
Amendment to the Company's Articles
|
32,558,998
|
93.55
|
2,244,942
|
6.45
|
|
Votes For #
|
Votes For %
|
Withheld
|
Votes Withheld %
|
|
Appointment of the Auditors
|
39,544,276
|
99.57
|
154,513
|
0.43
|
*Excluding 9,808,442 common shares held by Insiders (Insiders and management were restricted from voting on this resolution pursuant to the TSXV Policy)
Andrew Davidson, President and Chief Executive Officer of Royal comments, "We would like to thank the shareholders for their overwhelming support at today's Meeting. We look forward to an exciting year ahead as we look to start production at Steveville and continue to develop our other project areas."
About Royal Helium Ltd.
Royal is an exploration, production, and infrastructure company with a primary focus on the development and production of helium and associated gases. The Company controls over 1,000,000 acres of 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 has a low GHG footprint when compared to 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.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING 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 release.
This news release includes certain statements that may be deemed to be "forward-looking statements". All statements in this news 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.sedarplus.ca for further information.
SOURCE Royal Helium Ltd.
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