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Airlife Gases Acquires Control of Royal Helium Ltd.
AirLife affiliate gained majority control with 52.9% of Royal's Class A shares to ensure supply chain control and restart Steveville plant within 12 weeks.
- A court-approved reverse vesting order enabled Royal and its subsidiaries to exit the CCAA when Keranic completed the Amalgamation Agreement on September 25, 2025, with assets retained by target companies and liabilities vested to ResidualCo.
- Prior to closing, Keranic Industrial Gas Inc. raised capital via 7,030,000 Subscription Receipt Offering at $0.50 and Share Offering including 75,901,328 shares, while an affiliate of AirLife Gases Private Limited subscribed $2,000,000 and $930,000, acquiring 31,783,681 shares.
- The Transaction transfers four core areas covering a ~7,030,000-acre land position across Saskatchewan and Alberta helium corridors; the Steveville plant will restart within 12 weeks and reach full capacity in 10 months processing 15,000 Mcf/day.
- Following closing, the Strategic Investor holds approximately 52.9% of Class A Shares and secured board of directors majority nomination rights, exclusive offtake agreement, and corporate naming rights subject to approval.
- The release cautions that forward-looking statements depend on market prices, financing, and operational success, with Royal planning to apply to the TSXV as soon as practicable.
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Total News Sources15
Leaning Left9Leaning Right2Center1Last UpdatedBias Distribution75% Left
Bias Distribution
- 75% of the sources lean Left
75% Left
L 75%
R 17%
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