Helium One Secures US$10.2mm to Advance Itumbula Helium Project
- AKAP
- Jun 11, 2024
- 4 min read
Helium One raised ~£8mm (US$10.2mm) through an oversubscribed fundraise, issuing 1.6bn new ordinary shares at a significant discount of 56.5% at £0.50p/sh (vs the previous day closing of £1.10p). Helium One previously raised US$5.9mm in February at 1.5p/sh. The funds raised from this issue will support the advancement of Tanzania's first helium project, including crucial development phases like the deepening of Itumbula West-1. The new shares will represent about 30% of the company's enlarged share capital post-admission. Following admission, the company's fully paid share capital will consist of 5.3bn shares.