Another publicly listed helium player has joined the Saskatchewan helium industry.
Helium Evolution Incorporated of Calgary went public on March 30 on the Toronto Venture Exchange listing 78.3 million shares.
Former Saskatchewan premier Brad Wall is a director of Helium Evolution with a holding of 502,700 shares, according to the prospectus filed with securities authorities.
In three years the company has acquired leases from the province on 5.25 million acres of helium prospective land — one of the largest helium land holdings of any player in the province.
Three regions make up most of the acreage — the McCord-Mankota region, an area east of that, and an area near the Alberta border and Maple Creek.
One well drilled in the McCord area provided 1.1 per cent helium.
Starting in the second quarter this year plans are to drill up to six wells in the McCord acreage.
Shares closed at 50 cents on the first day of trading.
The company had approximately $12 million cash at Dec. 31, 2021.
Ron Walter can be reached at [email protected]
