Helium One Global Ltd (AIM:HE1, OTCQB:HLOGF) confirmed it has raised £1 million through an oversubscribed WRAP Retail Offer, with the offer closing early amid strong demand.
It will now issue some 185.185 million new shares, priced at 0.54p each.
The retail offer follows the recent approval of a £10 million raise.
Chief executive Lorna Blaisse told investors the company is now funded to push ahead with our ESP operations and develop our southern Rukwa project further.
"We are very pleased to have been able to include our retail shareholders via the WRAP and
“[We] are delighted with the response that we have received, given that it was oversubscribed to the extent that it closed early.
“I'd like to thank our existing shareholders who remain committed to the company and see the potential that the board has always believed to be integral to our projects.”
She added: “This is a very exciting time for Helium One as the company moves away from being an explorer towards becoming an established helium producer; with first gas planned for later this year from our non-operated helium-CO2 project in Colorado with Blue Star Helium.”