Pune, India--(Newsfile Corp. - October 21, 2025) - AirLife Gases Private Limited ("AirLife") is pleased to announce its participation in a private placement of subscription receipts of Keranic Industrial Gas Inc. ("Keranic") in support of Keranic's growth plans and proposed combination with Royal Helium Inc. ("Royal Helium"). Syndicate Lending Corporation ("SLC") acted as AirLife's exclusive representative, providing financial advisory, strategic guidance, and overall deal-execution support.

AirLife has also agreed, subject to customary conditions, to participate in additional financing to further support the proposed transaction.

Keranic has entered into a definitive agreement with Royal Helium Ltd., Royal Helium Exploration Limited, and Imperial Helium Corp. (collectively, "Royal Helium") for a business combination. Upon completion, the transaction would result in Royal Helium acquiring all issued and outstanding shares of Keranic, with the resulting entity expected to pursue a listing on a recognized Canadian stock exchange.

The Transaction includes Royal Helium's four core areas with multiple helium discoveries and widespread helium concentrations across a large, approximately 600,000-acre land position strategically located across Saskatchewan's and Alberta's helium corridors. This portfolio is complemented by the recently built Steveville plant facility and pipeline infrastructure capable of processing 15,000 Mcf/day of raw gas. The Steveville plant is expected to restart production within 12 weeks following completion of the transaction, supported by a helium-focused management team. In total, the transaction will transfer approximately 600,000 acres of helium exploration rights in Saskatchewan and Alberta, together with the Steveville purification plant and its 15,000 Mcf/day gathering system-a development poised to support job creation, industrial expansion, and long-term energy diversification in Alberta.

Following completion of the combination and related financings, AirLife expects to be a significant shareholder of the resulting issuer. In connection with the transaction, AirLife intends to enter into an investor rights arrangement providing customary rights, including board representation and certain branding considerations, subject to required approvals. AirLife will also have the right to negotiate long-term offtake arrangements for helium and specialty gases produced by the resulting issuer.

"This transaction marks a significant milestone for AirLife as we evolve into an integrated helium producer," said Kiran Karnawat, Chairman & CEO of AirLife Gases Private Limited. "Through this strategic partnership with Royal Helium, we are expanding our footprint in Canada's helium corridor, securing direct access to upstream production, and contributing to job creation and industrial growth in Alberta and Saskatchewan. The combination of AirLife's global distribution expertise with Royal Helium's proven assets will enhance supply reliability and deliver long-term value to customers worldwide."

About AirLife Gases Private Limited

AirLife Gases Private Limited is a multi-national supplier of helium and specialty gases, serving high-growth sectors such as healthcare, fiber optics, semiconductors, and aerospace & defense. Operating from multiple international facilities and supported by a robust global distribution network, AirLife has built long-standing supply relationships with industrial clients and helium producers, underpinned by rigorous quality assurance and regulatory compliance.

With the proposed transaction, AirLife is strategically evolving from a global distributor to an integrated helium producer, expanding its role across the value chain. This transition will enable AirLife to participate directly in upstream helium production while leveraging its extensive logistics and customer infrastructure to deliver end-to-end supply solutions. By aligning production with established distribution capabilities, AirLife aims to strengthen supply security for its global customers, reduce reliance on third-party producers, and enhance value creation through vertical integration.

This transaction represents a pivotal milestone in AirLife's growth strategy-positioning the company as a fully integrated helium enterprise with control over sourcing, production, and global delivery, ensuring sustainable growth in an increasingly supply-constrained market.

About Syndicate Lending Corporation

Syndicate Lending Corporation (SLC) is a financial advisory and strategic debt provider specializing in capital structuring, transaction execution, and cross-border deal facilitation across diverse markets. SLC partners with corporate clients to originate, structure, and complete complex financings and strategic combinations, acting as an advisor, arranger, and exclusive representative where required.

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