CALGARY, Alberta, November 18, 2025 (GLOBE NEWSWIRE) — Helium Evolution Incorporated (TSXV:HEVI) (“HEAVY” or “Company“), a Canadian helium exploration company developing assets in southern Saskatchewan, today announced the filing of the company's interim condensed financial statements and related management's discussion and analysis for the three and nine months ended September 30, 2025 (“”Third quarter report“).
Complete information about the third quarter report can be found on SEDAR+ at www.sedarplus.ca and on HEVI. website.
Highlights for the three and nine months ended September 30, 2025.
| Three months are over | Nine months are over | |||||
| Tabular amounts V thousands from Canadian Dollars, except share and amounts per share |
September 30, 2025 |
September 30, 2024 |
September 30, 2025 |
September 30, 2024 |
||
| Financial | ||||||
| Net loss | 1764 | 185 | 2635 | 678 | ||
| Net loss per share, basic and diluted | 0.01 | 0.00 | 0.02 | 0.00 | ||
| Cash, cash equivalents and restricted cash | 8,565 | 4.432 | 8,565 | 4.432 | ||
| Working capital1 | (1014 | ) | 4231 | (1014 | ) | 4231 |
| Total assets | 21,949 | 10,816 | 21,949 | 10,816 | ||
| Total liabilities | 10,292 | 466 | 10,292 | 466 | ||
| Weighted average share of shares outstanding | 122 974 553 | 96 033 974 | ||||
| Basic and diluted2 | 111 970 982 | 96 033 974 | ||||
1In October 2025, the Convertible Notes (as defined herein) were converted into shares of the Company's common stock, returning the working capital position to a positive position.
2The weighted average number of shares of common stock outstanding does not increase for outstanding stock options and warrants if the effect is anti-dilutive.
In the third quarter of 2025, HEVI achieved several transformation milestones that will allow the company to move into the next stage of growth:
- Financing of US$8.3 million Convertible Notes (the “Convertible Notes”): In August 2025, HEVI secured financing to a) fully fund its 20% working interest in the Soda Lake property and associated wells, and b) fund future drilling and development costs in the Mankota area. The convertible notes were subsequently converted into common stock on October 24, 2025, strengthening the balance sheet and eliminating debt.
- Construction of the Soda Lake facility: Construction of the Soda Lake helium processing facility occurred during the quarter, with production to begin in October 2025. This marks an important achievement in moving HEVI from researcher to manufacturer.
HEVI remains focused on expanding its production base through continued exploration and development of its extensive land holdings in southern Saskatchewan, while maintaining financial discipline and creating sustainable shareholder value.
Stay connected to the evolution of helium
Shareholders and other parties interested in learning more about Helium Evolution's capabilities are encouraged to visit the company's website. websitewhich includes an updated corporate presentationand are invited to follow the company on LinkedIn And X for current corporate updates and information about the helium industry. Helium Evolution also provides extensive custom “deep dive” research report prepared by a third party whose experience includes serving as a research analyst for several bank-owned and independent investment dealers.
About Helium Evolution Incorporated
Helium Evolution is a Canadian helium exploration company with the largest North American helium rights position among publicly traded companies, focused on developing assets in southern Saskatchewan. The Company owns more than five million acres under permit near proven deposits of economically viable concentrations of helium, which will help scale exploration and development efforts throughout its territory. HEVI's management and board of directors are pursuing a differentiated strategy to become a leading supplier of environmentally friendly helium to the growing global helium market.
For more information contact:
Statement Regarding Visionary Information
This press release contains statements that constitute “forward-looking statements.” These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements or events to occur. V That industry To differ financially from That expected results, performance or achievements expressed or implied such visionary statements. Forward looking statements are statements What are No historical facts And are in general, but No Always, identified To That words “expects” “plans” “foresees” “believes” “intends” “estimates” “projects” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “might,” or “should” occur.
Forward-looking statements in this document include statements regarding the Company's expectations regarding helium production in its territory generally, the Company's plans to expand its production base, the Company's intent to maintain financial discipline, the Company's beliefs regarding sustainable value creation, the Company's emergence as a leading supplier of sustainably produced helium, the Company's belief that it will become a key player in the North American helium industry, the Company's beliefs regarding the growth of the global helium market and other statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks. uncertainty and other factors which Maybe call our valid results, performance or achievements, or other future events that will significantly different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among other things: company Maybe be unsuccessful V drilling commercially productive wells; The Company may decide to delay, accelerate or abandon its exploration and development plans, including future drilling; The company may decide not to put helium wells into production; The Company may abandon, delay or accelerate plans and decisions regarding the Soda Lake facility; new laws or regulations and/or unanticipated events could adversely affect the Company's business and results of operations; equity markets experience volatility that is often unrelated to company performance, and such volatility could adversely affect the price of the Company's securities regardless of its operating performance; financing may not close as expected or at all; risks typically associated with resource exploration and production; uncertainty in estimates and forecasts regarding the Company's expenses and working capital position; restriction of service availability; fluctuations in commodity prices and exchange rates; adverse weather or decay conditions; and uncertainties arising from potential delays or changes in plans regarding exploration or development projects or capital expenditures.
When relying on on visionary statements And information To do solutions, investors And other must carefully take into account the above factors and risks of other uncertainties and potential events. The company has suggested that material factors relate To V That previous paragraphs will No cause such visionary statements And information To differ financially from actual results or events. However, the list of these factors is not exhaustive and is subject to change, and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The reader is cautioned against unnecessary posting trust on any visionary information. Such information, Although thoughtful reasonable To control V time from Preparation, Maybe prove To be wrong And valid results Maybe differ financially from those expected. Forward-Looking Statements contained V this news release are obviously skilled To this warning statement. visionary statements contained V this news release are did How from That date from this news release. Company does No mean, And categorically refuses any intention or obligation To, update or correct any visionary statements whether How A result from new information, future events or otherwise, except as required by law.
None That TLC Risk Exchange neither his Regulation Services Supplier (How What term definite V That policy from That The TSX Venture Exchange accepts responsibility for the adequacy and accuracy of this release.
