Led · Equity · May 2020

North American Helium is a private Calgary-based helium exploration and production company founded in 2013 that has drilled over 30 wells to date and holds rights to more than 5.0 million contiguous acres primarily in Saskatchewan and Utah. The company owns and operates Canada’s largest helium purification facility and reports four recent helium discoveries. NAH’s core product is domestically produced helium for high-technology applications, and it emphasizes building a reliable, long-term green helium supply for sectors such as space exploration and semiconductor manufacturing. The company plans a continuous capital investment program including acquiring seismic data, drilling 15–20 wells per year, and building additional processing and purification facilities to scale production and develop a regional green helium hub in Saskatchewan. Management recently completed financing and cites internally generated cash flow to support simultaneous development of multiple production assets and to bring additional production online in 2022. North American Helium is a Calgary-based private helium exploration and production company founded in 2013. The company explores, drills and commercializes high‑helium gas fields and says it is the only firm in the past 40 years to discover new economic high‑helium fields in North America. NAH holds rights to over 3.7 million contiguous acres and has drilled 15 wells to date, planning seismic acquisition and up to 10 additional wells in H2 2020. Proceeds from a recently closed approximately $39 million non‑brokered common‑share equity financing will be used to build a second helium purification plant at the Battle Creek field, fund an active drilling program, and for general corporate purposes. The Battle Creek purification plant, ordered from Air Liquide Advanced Technologies USA LLC, will have throughput capacity of 160 mcf/d of purified helium (20 MMcf/d raw gas) and, on commissioning (target July 2021), will be the largest helium purification system in Canada. NAH expects to start producing and marketing helium in July 2020 and aims to convert its land base into a development inventory to generate future cash flows. North American Helium (NAH) is a Calgary-based, private helium exploration and production company focused on discovering and commercializing high‑helium gas fields. The company holds over 3.6 million contiguous acres of land, primarily in Saskatchewan and Utah, and has made four new discoveries in the past three years. NAH’s core product is helium for industrial and high‑technology applications, and it expects to start producing and marketing helium in 2020. Near‑term plans include installing a single‑well mobile helium processing unit at its Cypress field to accelerate revenue generation through long‑term sales contracts and placing an equipment order for a multi‑well production plant at Battle Creek. The company closed a non‑brokered common share equity financing of approximately C$17.8 million to advance exploration and development at its Battle Creek, Cypress and Claydon fields and for general corporate purposes. Management recently appointed Neil Burrows as CFO and added Portal Capital’s Robert Mitchell to the board as part of the financing.