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Total Helium Ltd ( (TSE:ALTU) ) has issued an announcement.
Altura Energy Corp., an exploration and production company active in Arizona’s Holbrook Basin, is expanding its capital base to support ongoing field work and corporate needs. The company has upsized its previously announced non-brokered private placement to approximately 20 million units at $0.10 per unit, for gross proceeds of about $2 million, reflecting strong investor demand. Each unit comprises one common share and one warrant exercisable at $0.25 for up to 60 months, with an acceleration feature if the share price trades above a specified level. Net proceeds will fund site maintenance, additional well recompletions, and working capital, while the offering, which may include finder’s fees and insider participation, remains subject to TSX Venture Exchange approval and customary regulatory conditions, including a four‑month-plus-one‑day hold period.
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 with interests in the Holbrook Basin of Arizona, focusing on upstream energy development in that region.
Average Trading Volume: 81,401
Technical Sentiment Signal: Strong Sell
Current Market Cap: C$4.2M
Find detailed analytics on ALTU stock on TipRanks’ Stock Analysis page.