North American Helium Inc. (NAH) has closed a non-brokered common share equity financing of approximately $17.8m, which will be used for its exploration and development at its Battle Creek, Cypress and Claydon fields in Saskatchewan, Canada.
NAH’s priority will be the installation of a single-well mobile helium processing unit that will help revenue generation at NAH’s Cypress field through sales of helium on a long-term contract basis.
This project is the first significant step towards moving NAH from an exploration-only focus into cash flow from helium production, according to the Calgary, Canada-based company.
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