Helios Energy Ltd (ASX:HE8) Announces Results of Entitlement Offer
Entitlement Offer Results
Helios Energy Ltd (ASX:HE8) reported that its entitlement offer received 131,835,522 valid applications, raising approximately $922,848 before costs. Gleneagle Securities (Aust) Pty Ltd will subscribe for the remaining 240,171,541 new shares, underlining the total gross proceeds of $2,604,049. The new shares are expected to be issued on 16 April 2025 and will rank equally with existing shares.
Financial Position and Future Plans
The successful entitlement offer places Helios Energy in a robust financial position to advance the Presidio Project. The company anticipates commissioning drilling activities in the upcoming months, assessing additional acreage opportunities, and exploring potential joint ventures in their Presidio holdings. Further assessments of commercial opportunities arising from production will also be conducted.
Executive Comments
Managing Director Philipp Kin stated, “We are pleased to see strong support from existing Shareholders in the Entitlement Offer, particularly over what has been a singularly uncertain time in world capital markets, and would like to thank those Shareholders who participated in addition to Gleneagle for underwriting the remaining shortfall. Helios is now in a strong financial position to progress the Presidio Project and expects to, in the next coming months, to be ready for commissioning of drilling, announce an assessment of further acreage opportunities, continue assessment of commercial opportunities that will likely arise from production and investigation of potential Joint Ventures in our Presidio acreage. I look forward to updating the market on our progress in the coming months.”
Motley Fool contributor Aaron Shaw has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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