Helium Evolution Announces First Commercial Sales of Helium

Executive Summary

• Helium Evolution delivered its first load of helium to an off‑taker from the Soda Lake Facility, marking the company’s inaugural commercial helium sales.
• The Soda Lake Facility is operating at its designed capacity of 12 mmscf/d of raw gas, with HEVI holding a 20% working interest.
• Board update: Director Greg Robb resigned; he retires after his tenure on the board.

Key Details

• First Commercial Sale: First helium load shipped from the Soda Lake Facility (1‑2‑4‑9 W3, Mankota area) to an off‑taker.
• Facility Capacity: Designed to process 12 million standard cubic feet per day of raw gas; currently producing at full design capacity.
• Working Interest: HEVI holds a 20% working interest in the joint project with North American Helium Inc. (NAH).
• Revenue Implication: Anticipated steady contribution of production revenue from the working interest as commercial sales commence.
• Project Structure: Joint venture with NAH; three helium wells feed the facility via a dedicated pipeline gathering system.
• Management Quote: “We are extremely proud to reach this important milestone… The first commercial sale of helium is a transformational event for HEVI, validating our strategy…” – Jim Baker, Interim President & CEO.
• Board Change: Greg Robb resigned from the Board of Directors; retirement announced.

Notable Quotes

“The first commercial sale of helium is a transformational event for HEVI, validating our strategy and confirming the potential of our Saskatchewan helium assets.” – Jim Baker, Interim President & CEO

Materiality Assessment: Material – Positive (first revenue‑generating sales signal transition to commercial production).