Top 10 North American Helium Producer to Enter the Public Markets
Combined Company to Seek Nasdaq Uplisting in the Third Quarter of 2023
HOUSTON, TX / ACCESSWIRE / July 26, 2023 / Proton Green, LLC ("Proton Green" or the "Company"), a leading operator of one of the largest Helium and beverage grade CO2 hubs in North America, today announced that it has entered into a definitive share exchange agreement for an all-stock transaction with the publicly traded Cyber App Solutions Corp. (OTC PINK:CYRB). The share exchange agreement will create a leading publicly traded supplier of helium and beverage grade CO2 in North America.
Per the terms of the definitive share exchange agreement, the publicly traded Cyber App Solutions Corp. acquired Proton Green in an all-stock transaction such that upon completion, Proton Green shareholders own approximately 94.4% of the combined company. The current Proton Green management team and Board of Directors will lead the new combined organization.
In the immediate term, the combined company will pursue a name change to Proton Green, Inc., as well as a concurrent ticker change to "PGRN", which has been reserved with Nasdaq. This will be followed by an expected Nasdaq uplisting, which is anticipated to take place in the second half of 2023.
The combined company will be a North American leader in the sustainable production of helium and beverage grade CO2, leveraging exclusive resource rights on the 170,500 acre St. Johns field in Arizona - one of the largest helium, CO2 and carbon storage reservoirs in North America, containing an estimated 33 billion cubic feet of helium and 9 trillion cubic feet of CO2 in accessible reservoirs. Phase I Helium production is currently underway and notably both the Helium and CO2 produced at St. Johns field contain no hydrocarbon component.
Steve Looper, Chief Executive Officer of Proton Green, commented: "We are pleased to enter the public markets through this share exchange agreement, providing the capital markets community with a compelling Helium and CO2 pure-play opportunity. As it stands today with Phase I of Helium production underway, we are now a top 10 Helium producer in North America - with a clear line of sight to becoming the second largest as we scale production in the coming quarters - leveraging fixed-price offtake agreements with two multi-national industrial gas distribution and marketing companies.
"Looking ahead, our vision for Proton Green is clear. We will seek to rapidly scale our helium production, begin beverage grade CO2 production, and set new sustainability benchmarks for the industry with our hydrocarbon-free gases. I firmly believe that we can scale Helium production revenue from hundreds of thousands to millions of dollars per month by year-end. We're set to transform the industry while concurrently driving sustainable value for both our shareholders and their communities," concluded Looper.
About Proton Green, LLC
Proton Green LLC is a leading operator of one of the largest Helium and beverage grade CO2 hubs in North America. The Company maintains exclusive production rights to St. Johns Field, a 176,500 acre property in Arizona with a 33 billion cubic feet helium reservoir, 9 trillion cubic feet CO2 reservoir and a basin with the potential to store 1 billion metric tons of CO2. The Company is currently a top 10 producer of Helium in North America - a high-demand gas in both consumer and critical technology applications - leveraging strategic offtake partners with fixed-price agreements to drive a predictable revenue stream. Notably, both Helium and CO2 produced at St. John's Field contain no hydrocarbon component. To learn more, please visit our website at https://www.protongreen.com/.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will" and similar references to future periods. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: our limited operating history; our dependence on third parties for many aspects of our business; general market and economic conditions; technical factors; the availability of outside capital; our receipt of revenues; legislative developments; changes in our expenditures and other uses of cash; our ability to find, recruit and retain personnel in sufficient numbers to support our growth; our ability to manage growth; and general market, economic and business conditions. Additional factors that could cause actual results to differ materially from those anticipated by our forward-looking statements are under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our most recent Registration Statement filed with the Securities and Exchange Commission. Any forward-looking statement made in this press release is based only on information currently available to the Company and speaks only as of the date on which it is made. The Company undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
Media & Investor Relations Contact:
Lucas A. Zimmerman
Director
MZ Group - MZ North America
(949) 259-4987
PGRN@mzgroup.us
www.mzgroup.us
SOURCE: Proton Green, LLC
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