Altura Energy Upsizes Private Placement Again to Raise $2.93 Million

Total Helium Ltd ( (TSE:ALTU) ) has issued an update.

Altura Energy Corp. has again increased the size of its non-brokered private placement, now targeting gross proceeds of approximately $2.93 million through the issuance of about 29.25 million units at $0.10 each, driven by strong investor demand. Each unit consists of one common share and a five-year warrant exercisable at $0.25, with an acceleration feature tied to share price performance, and the financing—subject to TSX Venture Exchange approval and a standard four-month hold—is expected to fund site maintenance, additional well recompletions, working capital and general corporate purposes, with insiders participating under related-party exemptions and finder’s fees potentially payable.

Spark’s Take on TSE:ALTU Stock

According to Spark, TipRanks’ AI Analyst, TSE:ALTU is a Underperform.

Total Helium Ltd’s overall stock score is significantly hindered by its financial instability, characterized by declining revenues, substantial net losses, and negative equity. Technical analysis indicates bearish sentiment with weak price trends and momentum indicators. Valuation metrics further detract from the score with a negative P/E ratio, suggesting a lack of profitability. However, the recent corporate rebranding and recapitalization efforts provide a glimmer of potential improvement in operational efficiency and financial stability.

To see Spark’s full report on TSE:ALTU stock, click here.

More about Total Helium Ltd

Altura Energy Corp. is an exploration and production company focused on oil and gas assets in the Holbrook Basin of Arizona, where it is pursuing development and recompletion opportunities to grow production and reserves.

Average Trading Volume: 84,329

Technical Sentiment Signal: Strong Sell

Current Market Cap: C$5.39M

For a thorough assessment of ALTU stock, go to TipRanks’ Stock Analysis page.