Royal Helium Ltd. Exits CCAA After Reverse Takeover by Keranic Industrial Gas

Royal Helium Ltd. (or “Royal”) — together with its subsidiaries Royal Helium Exploration Limited (RHEL) and Imperial Helium Corp. — has officially exited the restructuring process under the Companies' Creditors Arrangements Act (CCAA) following the closing of a reverse takeover by Keranic Industrial Gas Inc. (“Keranic”). Under the deal — structured as a three‑cornered amalgamation per an Amalgamation Agreement dated September 25, 2025 — Keranic merged with a Royal subsidiary to form a new wholly‑owned subsidiary, while Royal, RHEL and Imperial Helium were removed from CCAA proceedings. As part of the transaction, Royal undertook an 8‑for‑1 share consolidation and amended its charter to create two share classes: voting “Class A” shares and non‑voting “Class B” shares. All previously outstanding debentures, options, and warrants were terminated under the court order. Under the financing package for the takeover, Keranic issued 7,030,000 subscription receipts at US$0.50 each and sold 75,901,328 new shares at about US$0.02108 per share. Meanwhile, an affiliate of AirLife Gases Private Limited invested approximately US$2.93 million (US$2.0 M via subscription receipts and US$0.93 M via share offering) and acquired additional shares, resulting in a ~52.9% stake of fully diluted Class A shares. The transaction delivers control of Royal’s core helium assets — including a roughly 600,000‑acre land position across Saskatchewan and Alberta, plus the recently built Steveville plant (with 15,000 Mcf/day processing capacity) — to Keranic. Production at the Steveville plant is targeted to restart within 12 weeks, with full capacity expected within 10 months. Looking ahead, Royal intends to apply for listing its Class A shares on the TSX Venture Exchange (TSXV) “as soon as reasonably practicable,” subject to regulatory approval. #RoyalHelium #HeliumIndustry #CorporateRestructuring #EnergyNews #SlimScan #GrowthStocks #CANSLIM