RNS Helium Ventures plc27 Aug 2024 14:11
Helium Ventures plc
("Helium Ventures" or the "Company")
Investment Update: Blue Star Helium Limited
Helium Ventures plc (AQSE:HEV), a special purpose acquisition vehicle notes the announcement made by AIM quoted Helium One Global Ltd. ("Helium One") today in relation to the Company's ASX listed investee company, Blue Star Helium Limited ("Blue Star") which has entered into a conditional sale of 50% of its Galactica helium project to Helium One. Helium One has also completed a fundraise to fund the acquisition and the drill out of 100% of six wells totalling $US2.7m and $US1.5m for past costs incurred by Blue Star.
Helium Ventures holds 7,142,858 ordinary shares in Blue Star.
The full announcement from Helium One Global Ltd. can be viewed via the following link:
https://polaris.brighterir.com/public/helium_one/news/rns/story/w0zg6zr
Neil Ritson, Chairman of Helium Ventures commented:
"We are pleased to see the Galactica helium project fully funded for six drills which is expected be on stream and producing in H1 2025."