Royal Helium Ltd., Royal Helium Exploration Limited, and Imperial Helium Corp.
FollowActive
- Proceeding
- NOIthe Bankruptcy and Insolvency Act, RSC 1985, c B-3, as amended
- File
- BK-25-03176112-0031
Filings held7
Last activity29 Jan 2025
On the record612 days
Secured debt$8.69M
OverviewSummary updated
Royal Helium Ltd., Royal Helium Exploration Limited, and Imperial Helium Corp. filed a notice of intention to make a proposal on January 17, 2025, in the Ontario Superior Court of Justice (Commercial List), with Grant Thornton Limited named proposal trustee. A preliminary creditors list for Royal Helium Ltd. shows Canadian Western Bank and the Business Development Bank of Canada each owed $8,692,433.00, alongside unsecured claims including $230,000.00 to David Young, $193,351.53 to Bennett Jones LLP, $178,801.79 to KPMG LLP, and $123,884.00 to Jeff Sheppard.
Proceedings AIAsk this case — answers cite the filings
Case updates8 dated entries
#Report
The officer filed report no. First Report. The Companies' operations, including at the Steveville Facility, have been paused, and the business is not currently operating while it pursues a court-supervised sale and investment solicitation process. Court file BK-25-03176112-0031.
Source: First Report of Proposal Trustee dated January 28, 2025.pdf
#Filing
Royal Helium Ltd., Royal Helium Exploration Limited, and Imperial Helium Corp. — NOI filed, Alberta.
Parties
Debtor
Royal Helium Ltd., Royal Helium Exploration Limited, and Imperial Helium Corp.
Proposal trustee
Doane Grant Thornton
Capital structureAs asserted in the filings
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Canadian Western Bank · in 80 casesas of NOI filing date — Listed in preliminary creditors list; classification as secured inferred from typical bank lending relationship, but document does not explicitly label security - included per list amount — debtor: Royal Helium Ltd. | $8.69M | RHL-Creditors Package dated January 21, 2025.pdf |
| 4 | Secured | Business Development Bank of Canada · in 241 casesas of NOI filing date — Listed in preliminary creditors list; classification as secured inferred from typical BDC lending relationship, but document does not explicitly label security - included per list amount — debtor: Royal Helium Ltd. | $8.69M | RHL-Creditors Package dated January 21, 2025.pdf |
| 8 | Unsecured | David Youngas of NOI filing date — individual — debtor: Royal Helium Ltd. | $230K | RHL-Creditors Package dated January 21, 2025.pdf |
| 8 | Unsecured | Bennett Jones LLP · in 26 casesas of NOI filing date — debtor: Royal Helium Ltd. | $193K | RHL-Creditors Package dated January 21, 2025.pdf |
| 8 | Unsecured | KPMG LLP · in 51 casesas of NOI filing date — debtor: Royal Helium Ltd. | $179K | RHL-Creditors Package dated January 21, 2025.pdf |
| 8 | Unsecured | Jeff Sheppardas of NOI filing date — individual — debtor: Royal Helium Ltd. | $124K | RHL-Creditors Package dated January 21, 2025.pdf |
| 8 | Unsecured | Cormark Securities Incas of NOI filing date — debtor: Royal Helium Ltd. | $105K | RHL-Creditors Package dated January 21, 2025.pdf |
| 8 | Unsecured | Quinn Carberryas of NOI filing date — individual — debtor: Royal Helium Ltd. | $93.4K | RHL-Creditors Package dated January 21, 2025.pdf |
| 8 | Unsecured | Shayne Neigumas of NOI filing date — individual — debtor: Royal Helium Ltd. | $83.1K | RHL-Creditors Package dated January 21, 2025.pdf |
| 8 | Unsecured | Venture Liquidity Providers Inc · in 2 casesas of NOI filing date — debtor: Royal Helium Ltd. | $79.1K | RHL-Creditors Package dated January 21, 2025.pdf |
| 8 | Unsecured | Jaelky Holdings Inc.as of NOI filing date — debtor: Royal Helium Ltd. | $73.5K | RHL-Creditors Package dated January 21, 2025.pdf |
| 8 | Unsecured | Wildeboer Dellelce LLP · in 5 casesas of NOI filing date — debtor: Royal Helium Ltd. | $62.1K | RHL-Creditors Package dated January 21, 2025.pdf |
| 8 | Unsecured | Battle River Consulting Incas of NOI filing date — debtor: Royal Helium Ltd. | $58.8K | RHL-Creditors Package dated January 21, 2025.pdf |
| 8 | Unsecured | Strand Hanson Limitedas of NOI filing date — address in London, England, UK — debtor: Royal Helium Ltd. | $58.7K | RHL-Creditors Package dated January 21, 2025.pdf |
| 8 | Unsecured | Michael Gleesonas of NOI filing date — individual — debtor: Royal Helium Ltd. | $40.9K | RHL-Creditors Package dated January 21, 2025.pdf |
| 8 | Unsecured | 49 North Resources Incas of NOI filing date — debtor: Royal Helium Ltd. | $25.2K | RHL-Creditors Package dated January 21, 2025.pdf |
| 8 | Unsecured | CNW Group Ltd · in 5 casesas of NOI filing date — debtor: Royal Helium Ltd. | $19.6K | RHL-Creditors Package dated January 21, 2025.pdf |
| 8 | Unsecured | 1179431 BC Ltdas of NOI filing date — debtor: Royal Helium Ltd. | $15.8K | RHL-Creditors Package dated January 21, 2025.pdf |
| 8 | Unsecured | Resource Stock Digestas of NOI filing date — address in Round Rock, Texas, USA - currency assumed USD — debtor: Royal Helium Ltd. | $13.7K USD | RHL-Creditors Package dated January 21, 2025.pdf |
| 8 | Unsecured | CDS Innovations Inc · in 2 casesas of NOI filing date — debtor: Royal Helium Ltd. | $13.7K | RHL-Creditors Package dated January 21, 2025.pdf |
| 8 | Unsecured | Jonathan Financial Inc.as of NOI filing date — debtor: Royal Helium Ltd. | $12.7K | RHL-Creditors Package dated January 21, 2025.pdf |
| 8 | Unsecured | Capilano Policy Group Incas of NOI filing date — debtor: Royal Helium Ltd. | $11K | RHL-Creditors Package dated January 21, 2025.pdf |
| 8 | Unsecured | Capital Event Management Ltd.as of NOI filing date — debtor: Royal Helium Ltd. | $10.5K | RHL-Creditors Package dated January 21, 2025.pdf |
| 8 | Unsecured | Dean Nawataas of NOI filing date — individual — debtor: Royal Helium Ltd. | $10.5K | RHL-Creditors Package dated January 21, 2025.pdf |
| 8 | Unsecured | VOC Virtual Data Corpas of NOI filing date — debtor: Royal Helium Ltd. | $10K | RHL-Creditors Package dated January 21, 2025.pdf |
| 8 | Unsecured | Broadview Networks · in 2 casesas of NOI filing date — debtor: Royal Helium Ltd. | $9.34K | RHL-Creditors Package dated January 21, 2025.pdf |
| 8 | Unsecured | Houlihan Lokey Capital Inc.as of NOI filing date — address in Los Angeles, California, USA - currency assumed USD — debtor: Royal Helium Ltd. | $8.28K USD | RHL-Creditors Package dated January 21, 2025.pdf |
| 8 | Unsecured | National Investor Publishingas of NOI filing date — address in St. Augustine, Florida, USA - currency assumed USD — debtor: Royal Helium Ltd. | $8.21K USD | RHL-Creditors Package dated January 21, 2025.pdf |
| 8 | Unsecured | Pipeline Online LLPas of NOI filing date — debtor: Royal Helium Ltd. | $6.83K | RHL-Creditors Package dated January 21, 2025.pdf |
| 8 | Unsecured | Bergerman Smith LLPas of NOI filing date — debtor: Royal Helium Ltd. | $5.7K | RHL-Creditors Package dated January 21, 2025.pdf |
| 8 | Unsecured | Initiate Researchas of NOI filing date — debtor: Royal Helium Ltd. | $5.25K | RHL-Creditors Package dated January 21, 2025.pdf |
| 8 | Unsecured | Andrew Davidson · in 2 casesas of NOI filing date — individual — debtor: Royal Helium Ltd. | $3.74K | RHL-Creditors Package dated January 21, 2025.pdf |
| 8 | Unsecured | Odyssey Trust Company · in 16 casesas of NOI filing date — debtor: Royal Helium Ltd. | $3.74K | RHL-Creditors Package dated January 21, 2025.pdf |
| 8 | Unsecured | Donnelley Financial Solutions Canada Corpas of NOI filing date — debtor: Royal Helium Ltd. | $2.99K | RHL-Creditors Package dated January 21, 2025.pdf |
| 8 | Unsecured | MLT Aikins · in 4 casesas of NOI filing date — debtor: Royal Helium Ltd. | $2.57K | RHL-Creditors Package dated January 21, 2025.pdf |
| 8 | Unsecured | Computershare Account Receivableas of NOI filing date — debtor: Royal Helium Ltd. | $2.19K | RHL-Creditors Package dated January 21, 2025.pdf |
| 8 | Unsecured | Investor Creativeas of NOI filing date — debtor: Royal Helium Ltd. | $1.97K | RHL-Creditors Package dated January 21, 2025.pdf |
| 8 | Unsecured | Broadridge · in 25 casesas of NOI filing date — debtor: Royal Helium Ltd. | $1.94K | RHL-Creditors Package dated January 21, 2025.pdf |
| 8 | Unsecured | CDS Clearing and Depository Services Inc · in 2 casesas of NOI filing date — debtor: Royal Helium Ltd. | $1.73K | RHL-Creditors Package dated January 21, 2025.pdf |
| 8 | Unsecured | Saskatchewan Workers' Compensation Board · in 16 casesas of NOI filing date — regulatory/statutory body — debtor: Royal Helium Ltd. | $1.59K | RHL-Creditors Package dated January 21, 2025.pdf |
| 8 | Unsecured | Micheal Gleesonas of NOI filing date — individual; appears as separate line item from similarly-named entry on page 4, possibly duplicate/alternate spelling — debtor: Royal Helium Ltd. | $1.22K | RHL-Creditors Package dated January 21, 2025.pdf |
| 8 | Unsecured | Cornerstone Governance Corporationas of NOI filing date — debtor: Royal Helium Ltd. | $819 | RHL-Creditors Package dated January 21, 2025.pdf |
| 8 | Unsecured | 5 Quarters Investor Relations Incas of NOI filing date — debtor: Royal Helium Ltd. | $473 | RHL-Creditors Package dated January 21, 2025.pdf |
Estate financialsReported figures — never derived
Total assets at filing$87.6M
Total liabilities at filing$40.1M
As at 31 Dec 2024 · per based on the provided (unaudited) financial statements of the Companies · consolidated - Royal Helium Ltd., Royal Helium Exploration Limited, and Imperial Helium Corp. (collectively 'the Companies') — Comparative figures also given as at December 31, 2023: Total Assets $91,814,798; Total Liabilities $42,205,139. Trustee notes the Companies have significant long-term exploration/PP&E assets but no liquidity to service current and long-term liabilities.
Documents7 filings
| Date | Document | File |
|---|---|---|
| Factum of the Applicants returnable January 29, 2025.pdf | ||
Motion Record returnable January 29, 2025.pdf
| ||
First Report of Proposal Trustee dated January 28, 2025.pdf
| ||
| Aide Memoire of the Applicants returnable January 24, 2025.pdf | ||
| IHC-Creditors Package dated January 21, 2025.pdf | ||
| RHE-Creditors Package dated January 21, 2025.pdf | ||
RHL-Creditors Package dated January 21, 2025.pdf
| ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Royal Helium Ltd., Royal Helium Exploration Limited, and Imperial Helium Corp.” (NOI), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/royal-helium-ltd-royal-helium-exploration-limited-and-imperial-helium-corp