Helium One Announces Total Voting Rights

Source: www.gulfoilandgas.com 4/16/2021, Location: Africa

Helium One Global Ltd is pleased to announce that it has raised gross proceeds of £10 million through a subscription and placing (the "Placing" and "Subscription" together the "Fundraise") by the issue of 100,000,000 Ordinary Shares (the "Fundraise Shares") at 10p per Fundraise Share ("Issue Price") with institutional and other investors.

· Significiantly oversubscribed Placing and Subscription raising £10 million at 10p per share
· Funds will be used to continue the fast-track development programme of the Company's Rukwa project in Tanzania
· Proceeds will enable the Company to save significant time and costs by keeping drilling equipment in the field to carry out appraisal work immediately following intended exploration success
· Proceeds will also allow contracting of 3D seismic over any discovery, maximising resource to reserve conversion and allowing completion of the majority of the field appraisal programme before the end of 2021
· Company's directors intend to participate in the Subscription

David Minchin, CEO of Helium One, commented:
"We are delighted to be able to continue the fast-track development of our Rukwa project in Tanzania. The response that we have seen during this oversubscribed fundraise endorses the confidence that we feel in our assets and planned exploration drilling campaign, as well as giving financial support necessary to contract all appraisal work to avoid downtime between any discovery and economic evaluation.

"The fundraise has seen broad support from a number of institutional and other investors, who support our aggressive exploration and appraisal strategy, as well as the quality and scale of our assets.

"Helium remains a vital resource, essential and irreplaceable, and which is a crucial component of growing next-generation technology focussed business. We believe our Rukwa Helium Project is well placed to become a strategic asset in supplying anticipated zero-carbon primary helium into this demand. Whilst we are fully funded for our three well exploration programme, this fundraise will enable us to aggressively carry out our appraisal drilling and 3D seismic programme immediately following any discovery.

"We look forward to welcoming our new shareholders on board at this exciting time for the Company as we prepare to commence our maiden drilling."

Norway >>  10/14/2021 - Hilde Ådland, board member of Panoro Energy ASA, has acquired 3,000 shares in the Company at a price per share of NOK 25.4. Following the acquisition,...
United States >>  10/13/2021 - Kosmos Energy Ltd. has launched a registered underwritten public offering of 37,500,000 shares of common stock (the “Offering”). In addition, Kosmos i...

Bermuda >>  10/12/2021 - GasLog Ltd. has entered into a Note Purchase Agreement with The Carlyle Group (“Carlyle”) and EIG for an amount of up to $325 million of 7.75% Notes d...
Norway >>  10/12/2021 - Equinor is the operator of 20 projects under development in Norway. This is a solid and profitable portfolio, creating ripple effects and value all ov...

Bermuda >>  10/11/2021 - Seadrill Limited and the Issuer announce that at the end of September 2021, certain subsidiaries of SeaMex Ltd. (in provisional liquidation), a 50/50 ...
Bermuda >>  10/11/2021 - Seadrill Limited (SDRL) has announced the voting results for its plan of reorganization (the “Plan”). All voting classes of stakeholders accepted the...

Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.