12:20 PM EDT, 03/26/2024 (MT Newswires) -- Royal Helium Ltd. ( RHCCF ) announced Tuesday that it has entered into its first offtake agreement for the sale of food and beverage grade CO2 from its Steveville Processing and Purification Facility.

This initial offtake agreement has a term of three years and will primarily serve markets in the Pacific Northwest Region of the United States.

David Young, President of Royal Helium ( RHCCF ) said in a statement: "this agreement marks a significant expansion of the economics of Royal's initial facility, showcasing the company's commitment to growth and innovation. This agreement not only propels us forward in our mission to sell a diversified set of value-added gases but also serves as a testament to the multifaceted commercial products generated from our facility, which provide multiple economic cash flow streams for shareholders. This first agreement is a testament to our strategic approach to fully monetizing each facility, and we anticipate further opportunities to meet the growing unmet demand for CO2, and purified commercial products, across various underserved markets in the U.S."

Due to the competitive nature of these negotiations, and the fact that Royal is in continuing negotiations for further contracts, disclosure over volume and price will not be made at this time.

Royal is an exploration, production, and infrastructure company with a primary focus on the development and production of helium and associated gases.

Price: 0.17, Change: +0.01, Percent Change: +6.25