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.
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
Royal Helium Ltd., Royal Helium Exploration Limited, and Imperial Helium Corp. — NOI filed, Alberta.
Debtor
Royal Helium Ltd., Royal Helium Exploration Limited, and Imperial Helium Corp.
Proposal trustee
Doane Grant Thornton
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Business Development Bank of Canada · in 251 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 |
| 4 | Secured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
42 more claims in 2 classes The stack holds Secured and Unsecured claims.
Every creditor and every amount, drawn to scale.
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The 2 totals the debtor stated at filing
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See all plans| Date | Document | File |
|---|---|---|
First Report of Proposal Trustee dated January 28, 2025.pdf
| PDF · Subscribers | |
| Factum of the Applicants returnable January 29, 2025.pdf | PDF · Subscribers | |
| Aide Memoire of the Applicants returnable January 24, 2025.pdf | PDF · Subscribers | |
Motion Record returnable January 29, 2025.pdf
| PDF · Subscribers | |
IHC-Creditors Package dated January 21, 2025.pdf
| PDF · Subscribers | |
RHE-Creditors Package dated January 21, 2025.pdf
| PDF · Subscribers | |
RHL-Creditors Package dated January 21, 2025.pdf
| PDF · Subscribers | |
Filing titles and dates are public, and so is each filing's own page. The figures read from them are for subscribers.
CiteProceedings., “Royal Helium Ltd., Royal Helium Exploration Limited, and Imperial Helium Corp.” (NOI), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/royal-helium-ltd-royal-helium-exploration-limited-and-imperial-helium-corp
Sources last checked · summary updated 6 September 2026 · Report a correction · Printed from proceedings.ca/case/royal-helium-ltd-royal-helium-exploration-limited-and-imperial-helium-corp
Facts and summaries are extracted automatically from the court filings linked on each page; the filings remain the authoritative record. Suggested corrections are reviewed against the source filings.