Helix Exploration Raises £2.2 Million in AIM Placing to Advance Montana Helium Assets

Helix Exploration Plc ( (GB:HEX) ) has provided an announcement.

Helix Exploration has completed a share placing at 25 pence per share, conditionally raising about £2.2 million through the issue of 8.8 million new shares, alongside 60,000 fee shares, with Hannam & Partners acting as sole bookrunner. The net proceeds will fund operational working capital, the Inez well re-entry and perforation, and corporate overheads, while increasing the company’s issued share capital to 195,427,400 shares once the new stock is admitted to trading on AIM, clarifying voting rights and modestly diluting existing shareholders as Helix advances its near-term helium development plans in Montana.

More about Helix Exploration Plc

Helix Exploration PLC is a helium exploration and development company focused on near-term production assets within the Montana Helium Fairway in the United States. The business targets the growing market for helium, a critical industrial gas used in sectors such as healthcare, technology and manufacturing, by advancing its exploration and development portfolio toward production.

Average Trading Volume: 1,339,430

Technical Sentiment Signal: Buy

Current Market Cap: £56.9M

See more data about HEX stock on TipRanks’ Stock Analysis page.