Mendell Helium is pleased to announce that M3 Helium Corporation (“M3 Helium”) has agreed terms for the lease of a 265 Mcf capacity trailer for delivery of helium from its Rost 1-26 well (“Rost”) and the nearby Rost twin well (“Rost Twin”) where drilling has recently finished in the Fort Dodge region of Kansas, USA. This trailer, which has an operating pressure of 3,600 psi, is substantially larger than other options that M3 Helium was previously considering and will be more efficient and cost effective in managing on site storage and helium deliveries. Together with its existing 160 Mcf tube trailer, M3 Helium now has a delivery capability of 425 Mcf in addition to fixed storage on the Rost site.
As announced on 27 June 2024, the Company has an option (the “Option”) to acquire M3 Helium, a producer of helium which is based in Kansas and holds an interest in six producing wells. There is no certainty that the Company’s option to acquire M3 Helium will be exercised, nor that the enlarged group will successfully complete a re-admission. The Company and M3 Helium have agreed to extend the date on which the Option should be exercised to 30 April 2026.
Mendell Helium also announces that it has received notice to exercise warrants over 1,708,333 new ordinary shares, comprising 333,333 new ordinary shares at an exercise price of 4.5 pence per share 375,000 new ordinary shares at an exercise price of 4 pence per share and 1,000,000 new ordinary shares at an exercise price of 3 pence per share, generating aggregate cash proceeds for the Company of £60,000.
Admission
Application has been made for 1,708,333 new ordinary shares to be admitted to trading on the Aquis Stock Exchange AQSE Growth Market (“Admission”). Admission is expected to occur at 8:00 a.m. on or around 28 April 2026. The new ordinary shares will rank pari passu with the existing Ordinary Shares.
Total Voting Rights
Following Admission, the Company’s enlarged share capital will comprise 152,574,639 Ordinary Shares of 1 pence each. Therefore, the total number of voting rights in the Company will be 152,574,639. This figure may be used by shareholders as the denominator for calculations by which they will determine if they are required to notify their interest in the Company, or a change to their interest in the Company, under the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules.
ENDS
Engage with the Mendell Helium management team directly by asking questions, watching video summaries and seeing what other shareholders have to say. Navigate to our Interactive Investor website here: https://mendellhelium.com/link/PKa6Ve
Enquiries:
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Investor questions on this announcement We encourage all investors to share questions on this announcement via our investor website
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Mendell Helium plc Nick Tulloch, CEO
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Via our website investors@mendellhelium.com |
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Cairn Financial Advisers LLP (AQSE Corporate Adviser) Ludovico Lazzaretti / Liam Murray
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Tel: +44 (0) 20 7213 0880 |
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SI Capital Limited (Broker) Nick Emerson |
Tel: +44 (0) 1483 413500 |
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Stanford Capital Partners Ltd (Broker) Patrick Claridge/Bob Pountney
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Tel: +44 (0) 203 3650 3650/51
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Fortified Securities Guy Wheatley
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Tel: +44 (0) 203 4117773
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AlbR Capital Limited Gavin Burnell / Colin Rowbury / Jon Belliss
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Tel: +44 (0) 207 4690930
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Brand Communications (Public & Investor Relations) Alan Green |
Tel: +44 (0) 7976 431608
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