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REG - Helium One Global Ld - Result of Placing and Subscription Offer

Helium One GlobalAnnouncement

21/12/2023 07:15

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RNS Number : 5960X Helium One Global Ltd 21 December 2023

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, THE
REPUBLIC OF SOUTH AFRICA, JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH
RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. PLEASE SEE THE
IMPORTANT INFORMATION SECTION AT THE END OF THIS ANNOUNCEMENT.

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR
CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY
PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE OF ANY SECURITIES IN
HELIUM ONE GLOBAL LTD OR ANY OTHER ENTITY IN ANY JURISDICTION WHERE TO DO SO
WOULD BREACH ANY APPLICABLE LAW OR REGULATION. NEITHER THIS ANNOUNCEMENT NOR
THE FACT OF ITS DISTRIBUTION SHALL FORM THE BASIS OF, OR BE RELIED ON IN
CONNECTION WITH, ANY INVESTMENT DECISION IN RESPECT OF HELIUM ONE GLOBAL LTD.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET
ABUSE REGULATION (EU) 596/2014 WHICH FORMS PART OF UK LAW BY VIRTUE OF THE
EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("UK MAR"). IN ADDITION, MARKET SOUNDINGS
(AS DEFINED IN UK MAR) WERE TAKEN IN RESPECT OF CERTAIN OF THE MATTERS
CONTAINED IN THIS ANNOUNCEMENT, WITH THE RESULT THAT CERTAIN PERSONS BECAME
AWARE OF SUCH INSIDE INFORMATION, AS PERMITTED BY UK MAR. UPON THE PUBLICATION
OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE
PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF
INSIDE INFORMATION.

21 December 2023

Helium One Global Ltd

("Helium One" or the "Company")

Result of Placing and Subscription Offer

Helium One Global (AIM: HE1), the primary helium explorer in Tanzania, is
pleased to announce that, following the announcement on 20 December 2023 (the
"Launch Announcement") regarding the launch of a proposed placing (the
"Placing") and a direct subscription (the "Subscription") (together, the
"Fundraise"), the Company has raised gross proceeds of £6.1 million
(approximately US$7.7 million) through the issue of an aggregate of
2,420,842,500 new ordinary shares of no par value in the capital of the
Company ("Ordinary Shares") at a price of 0.25 pence per Ordinary Share (the
"Issue Price"). The Fundraise was oversubscribed.

The Placing was conducted through an accelerated bookbuild process (the
"Bookbuild") undertaken by Liberum Capital Limited and Peterhouse Capital
Limited acting as joint bookrunners ("Joint Bookrunners").

The Fundraise comprised of a Placing of 2,413,642,500 new Ordinary Shares
("Placing Shares") to raise approximately £6.0 million (approximately US$7.7
million) and a Subscription of 7,200,000 new Ordinary Shares ("Subscription
Shares") to raise approximately £18k (approximately US$23k) (together and in
aggregate the "Fundraise Shares").

The Issue Price represents a discount of approximately 72 per cent. to the
closing price of 0.09 pence per Ordinary Share on 19 December 2023, being
the last business day prior to the announcement of the Fundraise.

In addition to the Fundraise Shares the Company will also issue 25,708,500
Ordinary Shares at the Issue Price in lieu of certain advisory fees (the "Fee
Shares").

Lorna Blaisse, Chief Executive Officer, commented:

"We are pleased with the response that we have received during our
oversubscribed Placing and Offer. These funds are essential and enable us to
complete the drilling of the Itumbula West-A well now, whilst we still have
all equipment and third party services mobilised. Delaying this fundraise
would have significantly impacted the Company and its strategy. The learnings
from the drilling of Tai-3 have led us to revise the well location on the
Itumbula prospect as we now look to target the fault play as well as the
conventional Lake Bed and Karoo closures. The well has been designed to
directly target and test this new fault play where the Company anticipates
helium concentrations to be significantly elevated."

"We're currently rigging up at Itumbula West-A and performing pre-spud
maintenance checks ahead of commencing drilling in early January targeting
this exciting prospect. We look forward to providing further updates as
appropriate and as we spud Itumbula."

Admission and Total Voting Rights

Application has been made for the Fundraise Shares and the Fee Shares to be
admitted to trading on AIM ("Admission"). It is anticipated that trading in
the new shares will commence on AIM at or around 8.00 a.m. on 28 December
2023. The Fundraise Shares and the Fee Shares will rank pari passu with the
existing Ordinary Shares in issue.

Following Admission, the Company's issued and fully paid share capital will
consist of 3,402,377,430 Ordinary Shares, all of which carry one voting right
per share. The Company does not hold any Ordinary Shares in treasury.
Following Admission, the figure of 3,402,377,430 Ordinary Shares may be used
by shareholders as the denominator for the calculation by which they will
determine if they are required to notify their interest in, or a change to
their interest in, the Company, under the Disclosure Guidance and Transparency
Rules.

The Fundraise Shares will represent approximately 71 per cent. of the
Company's enlarged issued share capital on Admission (assuming no other
issuance of Ordinary Shares prior to Admission).

Director Participation in the Subscription

All off the Directors and a senior staff member of the Company have subscribed
for a total of 7,200,000 Subscription Shares in aggregate. The beneficial
holdings of the Directors before and after Admission of the new shares are set
out below:

Director Subscription Shares Total Ordinary Shares held on Admission % of Issued Share Capital on Admission
Lorna Blaisse 2,000,000 2,173,333 0.06
Graham Jacobs 800,000 1,193,333 0.04
Sarah Cope 800,000 1,095,857 0.03
Nigel Friend 800,000 983,333 0.03
James Smith 400,000 623,333 0.02
Russel Swarts 400,000 600,000 0.02

Capitalised terms not defined in this announcement have the meaning given to
them in the Launch Announcement.

For more information please contact:

Helium One Global Ltd +44 20 7920 3150

Lorna Blaisse, CEO

Liberum Capital Limited (Nominated Adviser and Joint Broker) +44 20 3100 2000

Scott Mathieson

Ed Thomas

Nikhil Varghese

Peterhouse Capital Limited (Joint Broker) +44 20 7220 9792

Lucy Williams

Charles Goodfellow

Duncan Vasey

Tavistock (Financial PR) +44 20 7920 3150

Nick Elwes

Tara Vivian - Neal

Notes to Editors

Helium One Global, the AIM-traded Tanzanian explorer, holds prospecting
licences totalling 2,965km(2) across three distinct project areas, with the
potential to become a strategic player in resolving a supply-constrained
helium market.

The Rukwa, Balangida, and Eyasi projects are located within rift basins on the
margin of the Tanzanian Craton in the north and southwest of the country. The
assets lie near surface seeps with helium concentrations ranging up to 10.6%
He by volume. All Helium One's licences are held on a 100% equity basis and
are in close proximity to the required infrastructure.

The Company's flagship Rukwa Project is located within the Rukwa Rift Basin
covering 1,899km(2) in south-west Tanzania. The project is considered to be an
advanced exploration project with leads and prospects defined by a subsurface
database including multispectral satellite spectroscopy, airborne gravity
gradiometry, 2D seismic data, and QEMSCAN analysis. The Rukwa Project has been
de-risked by the 2021 drilling campaign, which identified reservoir and seal
with multiple prospective intervals from basin to near surface within a
working helium system.

In July 2023, Helium One acquired their own exploration drill rig, an Epiroc
Predator 220 oil and gas type rig, capable of drilling to depths of 2,400m.
The rig was shipped to Tanzania in order to commence Phase II drilling
operations.

Helium One is traded on the AIM market of the London Stock Exchange with the
ticker of HE1 and on the OTCQB in the United States with the ticker HLOGF.

Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with them.

1 Details of the person discharging managerial responsibilities/person closely
associated
a. Name Lorna Blaisse
2 Reason for notification
a. Position/Status Chief Executive Officer
b. Initial notification/ Amendment Initial
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a. Name Helium One Global Limited
b. LEI 213800J96OENDQKNQZ60
4 Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
a. Description of the financial instrument, type of instrument Ordinary Shares of nil par value each

Identification Code

ISIN: VGG4392T1075
b. Nature of the transaction Subscription for ordinary shares
c. Price(s) and volume(s)
Price(s) Volume(s)
0.25p 2,000,000

d. Aggregated information N/A

- Aggregated Volume