Helios Energy Limited (ASX:HE8) Announces Placement and Entitlement Offer
Placement and Entitlement Offer
Helios Energy Limited is raising approximately $1.1 million (in total) through a placement of 142,857,142 new shares at $0.007 each, with settlement scheduled for 21 March 2025 and new shares expected on 24 March 2025. Additionally, the company is undertaking a fully underwritten non-renounceable entitlement offer of new shares at a ratio of 1 new share for every 7 shares held by eligible shareholders, aiming to raise approximately $2.6 million at $0.007 per new share, representing a 40% discount to the 30-day VWAP.
Use of Funds
The funds raised will be used to advance the Presidio Oil & Gas Project, collaborate with WDVG on a development plan, conduct further fieldwork, initiate the next drill program, and cover general working capital and corporate costs.
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