Helium One Global (AIM:HE1) announced this morning that it has officially commenced trading on the AIM market of the London Stock Exchange under the ticker HE1.
The number of ordinary shares in issue follows its admission is 496,893,111 giving the Helium a market capitalisation of around £14.1 million at the issue price of 2.84 pence per share.
Helium has successfully raised £6m through an oversubscribed placing of 211,267,597 ordinary shares with institutional and other investors at a price of 2.84p per Ordinary Share.
The company has described itself as ‘a globally significant asset’ whose aim is to resolve a supply constrained market. The company’s primary focus is its large-scale, high-grade primary helium project with un-risked prospective helium resource (2U/P50) of 138Bcf.
The Rukwa project, which is Helium's main asset, is the is a large scale primary helium project in Tanzania and is estimated to be one of largest projects of its kind in the world.
Helium informed investors that it is fully funded for its exploration programme which it anticipates will commence in Q1/Q2 2021 and will consist of infill seismic acquisition and three well drilling programmes targeting high priority Prospects over the Rukwa Project.
Helium highlighted to investors that it has a management team with ‘an extensive track record of exploration, development and operation in Africa’ which will accompany it in its efforts.
This Admission to trading follows the amalgamation with Attis Oil and Gas (AOGL) as approved at the Extraordinary General Meeting of AOGL on the 25th November 2020.
“Our Admission to AIM is a hugely significant moment for Helium One. Following our oversubscribed capital raise we are fully funded to carry out an aggressive exploration programme commencing in Q1/Q2 2021,” said CEO of Helium, David Minchin.
He added: “This drilling programme will enable us to prove what we believe is an asset with globally strategic implications in a supply constrained helium market. Helium One is the only company listed on AIM that provides investors exposure to helium - a scarce and irreplaceable commodity which is essential for many modern technologies.”
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