Result of Placing and Subscription Offer

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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).

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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:

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

For more information please contact:

Notes to Editors

Helium One Global, the AIM-traded Tanzanian explorer, holds prospecting licences totalling 2,965km² 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 1,899km² 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.