LONDON - Helium One Global Ltd (LON:HE1H) (AIM:HE1), a Tanzanian helium exploration company, has announced the issuance of 15,716,113 ordinary shares to a service provider in lieu of cash payment. The transaction was part of a pre-agreed arrangement for services rendered during the company's recent Extended Well Test (EWT).
The new shares are set to be admitted to trading on the AIM market of the London Stock Exchange (LON:LSEG), with expectations that the process, known as Admission, will be effective from 8.00 a.m. on December 13, 2024. These shares will have equal voting rights with the existing ordinary shares.
Following the Admission, Helium One's issued share capital will rise to 5,921,426,876 ordinary shares. The company has stated that it does not hold any shares in treasury, and this total share count will serve as the denominator for shareholders to calculate notifications of interest or changes to their interest in the company's share capital, as per the UK Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
Helium One holds prospecting licenses in Tanzania and has been involved in exploration activities that could position the company as a key player in the global helium market, which is currently facing supply constraints. The company's primary project is located in the Rukwa Rift Basin in southwest Tanzania, which has entered the appraisal stage following a successful exploration drilling campaign in 2023/24.
The EWT conducted in the third quarter of 2024 confirmed a helium discovery, with a continuous flow of 5.5% helium to the surface. This development has led Helium One to file a Mining Licence application with the Tanzanian Government's Mining Commission.
In addition to its Tanzanian interests, Helium One holds a 50% working interest in the Galactica-Pegasus helium development project in Colorado, USA, operated by Blue Star Helium Ltd (ASX: BNL).
The company's shares are also traded on the OTCQB market in the United States under the ticker HLOGF. This information is based on a press release statement from Helium One Global Ltd.
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