Helium Evolution Announces Filing of Third Quarter 2025 Financial Results

Core Insights - Helium Evolution Incorporated (HEVI) reported its interim condensed financial statements for the three and nine months ended September 30, 2025, highlighting a net loss and significant milestones in its operational growth [1][3][4]. Financial Performance - For the three months ended September 30, 2025, HEVI recorded a net loss of CAD 1.764 million compared to a net loss of CAD 0.185 million in the same period of 2024, representing an increase in loss of approximately 853% [3]. - The net loss per share for the third quarter was CAD 0.01, up from CAD 0.00 in Q3 2024 [3]. - Total assets increased to CAD 21.949 million from CAD 10.816 million year-over-year, while total liabilities rose to CAD 10.292 million from CAD 0.466 million [3]. - Cash, cash equivalents, and restricted cash stood at CAD 8.565 million, unchanged from the previous year [3]. Operational Highlights - HEVI achieved several transformational milestones during Q3 2025, focusing on expanding its production base through exploration and development in southern Saskatchewan [4]. - The company successfully constructed the Soda Lake helium processing facility, with production commencing in October 2025, marking a significant transition from exploration to production [7]. - In August 2025, HEVI secured CAD 8.3 million in convertible note financing to fund its working interest in the Soda Lake Facility and future drilling expenditures, which was converted into common shares in October 2025, improving the company's balance sheet [7]. Strategic Positioning - HEVI holds the largest helium land rights position among publicly traded companies in North America, with over five million acres under permit in southern Saskatchewan, positioning itself as a key player in the helium market [8]. - The company aims to become a leading supplier of sustainably-produced helium, capitalizing on the growing global demand for helium [8].