First Helium (TSXV: HELI) is the latest helium-focused firm to hit the markets. The firm this morning announced that it will commence trading today on the TSX Venture, under the symbol “HELI”. The listing followings two offerings conducted earlier this year for gross proceeds of $12.0 million.
Based in the prairies, the company is currently focused on developing its flagship asset, the Worsley Helium Project, which is located near to Grande Prairie, Alberta. The project as a whole amounts to 32,000 hectares along the Worsley Helium Trend.
The company is focused on near-term cash flow, with the company currently focused on the further development of the project. A discovery well has already been conducted on the firms project, with the well testing out at 1.32% helium over three test periods.
Sponsored · Selkirk Copper Mines
The firm last week received its final prospectus for its over-subscribed subscription receipt offering, as well as a convertible debenture offering, which raised gross proceeds of $12.0 million in aggregate. In total, 35.8 million common shares and 22.7 million warrants were issued in connection with the financings. Warrants are valid for a period of two years from the date of listing, and contain an exercise price of $0.50 per share.
A total of 65.6 million shares are now outstanding in the new issuer.
Information for this briefing was found via Sedar and First Helium. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
