Royal Helium Ltd. Announces Election to Issue Common Shares in Satisfaction of Convertible Debenture Interest Payment Obligations and for Conversion

SASKATOON, SK, June 20, 2024 /CNW/ - Royal Helium Ltd. (TSXV:RHC.VN) (TSXV:RHC-WT-A.VN) (TSXV:RHC-WT-B.VN) (OTC-BB:RHCCF) ("Royal" or the "Company") announces that in accordance with the terms of the two separate debenture indentures entered into between the Company and Computershare Trust Company of Canada (the "Trustee") dated February 8, 2023 (the "February Indenture") and dated June 12, 2023 (the "June Indenture" and collectively with the February Indenture, the "Debenture Indentures"), the Company has elected to issue an aggregate of 8,448,929 common shares in the capital of the Company (the "Common Shares") at a price of $0.078 to the holders of the 14.0% Senior Unsecured Convertible Debentures due December 31, 2025 (the "14% Debentures") and the holders of the 12.0% Senior Unsecured Convertible Debentures due June 30, 2025 (the "12% Debentures", together with the 14% Debentures, the "Convertible Debentures"), as payment for the satisfaction of the interest payment of $70.00 for each $1,000 principal amount of 14% Debentures and the interest payment of $66.41 for each $1,000 principal amount of 12% Debentures. The aggregate amount of Common Shares also satisfies interest owing to a holder of 12% Debentures that elected to convert on April 1, 2024.