Canada NewsWire
SASKATOON, SK , May 1, 2023 /CNW/ - Royal Helium Ltd. (TSXV: RHC) (TSXV: RHC.WT) (OTCQB: RHCCF) (" Royal " or the " Company ") is pleased to announce the appointment of Mr. David T. Young as Executive Vice-President & Head of US Operations.
Mr. Young has more than 20 years of experience as an investor, advisor and operator across a range of industries. For over a decade, Mr. Young has operated with a primary focus on the natural resources space where he has invested in and advised upstream development and midstream operations across North America.
Most recently, Mr. Young was a principal at the Carlyle Group, one of the world's largest and preeminent private equity firms, with over $300 billion in assets. While at the Carlyle Group, Mr. Young was part of the leadership team managing over US$4 billion in natural resource investments, with a primary focus on upstream development and midstream related assets.
Prior to joining the Carlyle Group, Mr. Young was a Director of Talara Capital Management, where he led the team's control-oriented private equity investments in the natural resources space.
During his tenure at Talara, Mr. Young represented its interests on the board of directors of multiple upstream oil and gas development companies and, most notably, led the distressed acquisition and subsequent take-private transaction of Caza Petroleum. Mr. Young led the team in building Caza Petroleum from less than 50 barrels per day of production to its current standing as a regional leader in the Delaware Basin.
Mr. Young previously held positions at leading New York based investment banks, including Perella Weinberg Partners, Kramer Capital Partners, and Houlihan Lokey .
Mr. Young is graduate of the University of Virginia's McIntire School of Commerce and has frequently returned as a guest lecturer on investment topics, including control investments in the oil and gas industry.
Andrew Davidson , President and CEO of Royal comments, "We are pleased to add David and his significant experience and skillset in moving companies from early stage to industry leaders. David will play a leading role with our existing management team in financial and operating strategy and execution as we continue to expand our operations."
Royal also announces the grant of 500,000 stock options pursuant to the Company's stock option plan, exercisable at $0.38 per share and expiring April 26, 2028 , subject to earlier expiration in accordance with the stock option plan and applicable policies of the TSX Venture Exchange have been granted.
Royal controls over 1,000,000 acres of prospective helium land across southern Saskatchewan and southeastern Alberta . All of Royals' lands are in close vicinity to highways, roads, cities and importantly, close to existing oil and gas infrastructure, with a significant portion of its land in close proximity to existing helium producing locations. With stable, rising prices and limited, non-renewable sources for helium worldwide, Royal intends to become a leading North American producer of this high value commodity.
Royal's helium reservoirs are carried primarily with nitrogen. Nitrogen is not considered a greenhouse gas (GHG) and therefore has a low GHG footprint when compared to other jurisdictions that rely on large scale natural gas production for helium extraction. Helium extracted from wells in Saskatchewan and Alberta can be up to 90% less carbon intensive than helium extraction processes in other jurisdictions.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.
SOURCE Royal Helium Ltd.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/May2023/01/c3381.html