Global Helium Reports Q3'23 Results
- Nov 29, 2023
- 1 min read
The company drilled, logged, and cased its first helium well in Southeast Alberta along the Manyberries Helium trend. Subsequently, an additional well was completed, leading to the option to lease more land on the Manyberries trend in collaboration with a JV partner. Post the quarter-end, a private placement of preferred shares raised C$3.5mm. During the quarter, Global reported a net loss of C$0.35mm (reduced by ~60% due to its cost-cutting plans), cash position of C$1.3mm, and total assets of C$6.7mm.