First Helium Completes $2.6 Million Oversubscribed Placement

First Helium Inc. has successfully closed its non-brokered private placement, raising approximately $2.58 million through the issuance of 51,590,000 units at $0.05 per unit. Each unit includes one common share and one warrant, exercisable for 36 months at a price between $0.10 and $0.15, depending on the date of exercise. The funds will be used for asset development and operating expenses at the Worsley project, and for general working capital.

No finders' fees were paid. Conditions for closing include regulatory approvals and TSX Venture Exchange's acceptance. Certain insiders participated, but no special minority shareholder approval was necessary. A statutory hold period of four months applies to the securities. The potential for early warrant expiry exists, linked to trading price conditions.