Early Warning Press Launch

VANCOUVER, British Columbia, April 05, 2024 (GLOBE NEWSWIRE) — On April 4, 2024, as a part of a non-brokered personal placement (the “Non-public Placement”), Mr. Robert Scott (“Mr. Scott“) acquired 23,238,000 items (“Models”) of First Helium Inc. (the “Issuer”) at a value of $0.05 per Unit, for a complete subscription value of $1,161,900. Every Unit consists of 1 widespread share (a “Share”) within the capital of the Issuer and one widespread share buy warrant (a “Warrant”), with every Warrant entitling the holder thereof to amass one extra Share at a value of $0.075 per Share till April 4, 2027.

Mr. Scott is offering the next disclosure pursuant to Nationwide Instrument 62-103 – The Early Warning System and Associated Take-Over Bid and Insider Reporting Points as Mr. Scott’s possession over the Shares of the Issuer will represent 10% or extra of the issued and excellent shares on an undiluted and a partially-diluted foundation following the completion of the Non-public Placement.

Instantly previous to the Non-public Placement, Mr. Scott beneficially owned, or had management and course over, 816,530 Shares, and 1,500,000 warrants and 900,000 choices exercisable for two,400,000 Shares, representing roughly 0.937% of the excellent Shares on an undiluted foundation and three.56% of the excellent Shares on a partially-diluted foundation, assuming the train of the warrants and choices held by Mr. Scott, and based mostly upon 87,059,353 Shares excellent previous to the Non-public Placement.

Instantly after the Non-public Placement, Mr. Scott beneficially owns, or has management and course over, 24,054,530 Shares, and 24,738,000 warrants and 900,000 choices exercisable for 25,638,000 Shares, representing roughly 15.70% of the excellent Shares on an undiluted foundation and 27.78% of the excellent Shares on a partially-diluted foundation, assuming the train of the warrants and choices held by Mr. Scott, and based mostly upon 153,232,353 Shares excellent upon completion of the Non-public Placement.

The Models had been acquired by Mr. Scott for funding functions solely, and sooner or later, Mr. Scott could purchase extra securities of the Issuer, eliminate some or the entire current securities it holds or will maintain, or could proceed to carry its present place, relying on market situations, reformulation of plans and/or different related components.

A duplicate of the early warning report filed by Mr. Scott in reference to the Non-public Placement can be out there underneath the Issuer’s profile on the SEDAR+ web site. To acquire a duplicate of the Report, an individual may additionally contact Ed Bereznicki, CEO of the Issuer by phone at 1-833-435-4861.