RE: Very interesting new route3 Jul 2025 08:03
Joint Venture Company
The establishment of a joint venture company is also currently being concluded. The joint venture company is to be named Songwe Helium Ltd ("Songwe") and 83% of the issued share capital will be owned by the Helium One (through a subsidiary undertaking) and 17% by the Government of Tanzania.
The board of Songwe will consist of five members, three of which will be appointed by the Company and two by the Government.
Governing Documents
The negotiation of all relevant agreements has been concluded and these comprise a Regulatory Framework Agreement, a Shareholders' Agreement, the Memorandum and Articles of Association of Songwe and a jointly agreed economic model.
The Company is currently waiting for final approvals and the names of the Government-nominated directors of Songwe and upon notification, the executable versions of all documents will be prepared, and it is expected that a formal signing ceremony will then occur.
The Company is in the process of determining the next steps in the development programme and will announce these as well as the date of the signing ceremony as soon as possible.
Relinquished Prospecting Licenses
On 1st June 2025 Prospecting Licenses PL 11135/2017 and PL 11136/2017 expired. In light of the remoteness of these licences and the fact that they both partially offshore, the Company has decided not to seek further renewal.
For further information please visit the Company's website: www.helium-one.com
Contact
Helium One Global Ltd
Lorna Blaisse, CEO
Graham Jacobs, Finance and Commercial Director
+44 20 7920 3150
Panmure Liberum Limited (Nominated Adviser and Joint Broker)
Scott Mathieson
Nikhil Varghese
+44 20 3100 2000
Zeus Capital Limited (Joint Broker)
Simon Johnson
Louisa Waddell
+44 20 3829 5000
Tavistock (Financial PR)
Nick Elwes
Tara Vivian-Neal
+44 20 7920 3150
Notes to Editors
Helium One Global, the primary helium explorer in Tanzania with a 50% working interest in the Galactica-Pegasus helium development project in Colorado, USA. The Company holds helium licenses within two distinct helium project areas, across two continents. With an expanding global footprint, the company has the potential to become a strategic player in resolving a supply-constrained helium market.
The Company's flagship southern Rukwa Project is located within the southern Rukwa Rift Basin in south-west Tanzania. This project entering a full appraisal and development stage following the success of the 2023/24 exploration drilling campaign, which proved a helium discovery at Itumbula West-1 and, following an extended well test ("EWT"), successfully flowed 5.5% helium continually to surface in Q3 2024.
Following the success of the EWT, the Company filed a Mining Licence ("ML") application with the Tanzania Mining Commission in September 2024. The 480km2 ML has now been o