New Era Helium amends CEO employment agreement to include relocation expenses

New Era Helium Inc. (NASDAQ:NEHC) announced an amendment to the employment agreement with its Chief Executive Officer, E. Will Gray II, according to a statement released Wednesday and disclosed in a filing with the Securities and Exchange Commission. The company, currently valued at $7.8 million in market capitalization, faces significant financial challenges according to InvestingPro analysis.

The amendment, effective July 16, 2025, provides for the reimbursement of certain relocation and housing expenses for Mr. Gray. The company, which is incorporated in Nevada and operates in the crude petroleum and natural gas sector, had previously entered into an employment agreement with Mr. Gray dated April 15, 2024. With a current ratio of 0.51 and significant debt obligations, InvestingPro data indicates the company may face challenges meeting its short-term obligations.

Details regarding the specific terms of the reimbursement were not disclosed in the filing. The amendment was included as Exhibit 10.1 to the current report on Form 8-K.

New Era Helium’s common stock and warrants are listed on The Nasdaq Stock Market LLC under the symbols NEHC and NEHCW, respectively.

This information is based on a press release statement and the company’s filing with the SEC.

In other recent news, New Era Helium Inc. reported updates to its equity purchase agreement with an institutional investor, allowing for extended purchase pricing periods and other administrative changes. The company has issued and sold over 12 million shares, generating approximately $8.59 million in gross proceeds under the existing facility. Additionally, New Era Helium announced the termination of a supply agreement with Matheson Tri-Gas due to delays in its Pecos Slope Plant operations. In a strategic move, New Era Helium’s joint venture, Texas Critical Data Centers LLC, signed a non-binding Letter of Intent with a global AI cloud service provider for a data center project in Texas. This joint venture aims to acquire land and secure a power purchase agreement for up to 250 megawatts of electricity. Furthermore, New Era Helium has appointed three new board members to fill recent vacancies, including experts in renewable energy and digital infrastructure. These developments come as the company continues to pursue its strategy in helium production, power generation, and data infrastructure.

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