Helium One completed a £4.7mm equity raise, issuing 313mm new shares at a price of 1.5p/sh. The company's share capital is now ~3.7bn shares. The placement come after the recent success at the Itumbula West-1 well and will be used to fund working capital for the company to advance the project. The placing price represents a 30% discount to the previous closing price. However, shares are still up by 850% since last month.
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