Helium One (AIM: HE1) (“Helium One” or “the Company”) is pleased to update the market on progress at its Rukwa Project (100%) in Tanzania with drilling rig and equipment mobilised to a forward holding yard and announce that the Company’s ordinary shares will cross-trade publicly on the US OTCQB Venture Market (“OTCQB”), under the ticker HLOGF with effect from market open in the US today.
Highlights:
·Mobilisation of drilling rig and equipment from locations in Tanzania and Mozambique to a forward holding yard near Mbeya, approximately 100km from Rukwa
· Camp established at Rukwa ready to accommodate workers ahead of drilling
· Support systems and ancillary materials on route from China, South Africa, USA, Canada, Australia and the UK
· Trading on the US OTCQB Venture Market (“OTCQB”), under the ticker HLOGF commencing 29 April 2021
· David Minchin CEO to provide a live investor presentation via the Investor Meet Company platform on 6th May 2021 at 3:00pm BST
David Minchin, Chief Executive Officer, commented:
“We are delighted to report on continued progress at the Rukwa project with our on the ground team commencing the process of mobilising the drill rig and support equipment to site. Mobilising a project of this size requires time and planning. Equipment from a wide range of sources will be collected at a forward holding yard near Mbeya before travelling in convoy to the first well location.
“Management has worked tirelessly to deliver this project on time and I am immensely proud of the achievements of all involved as we look to deliver our maiden drilling programme on schedule in mid-May.
“The Company is seeking to encourage the significant interest that our Rukwa project has generated internationally with the commencement of trading of our shares on the OTCBQ. The US has a significant interest in helium as a commodity and we hope that the visibility we gain will further broaden our shareholder base and increase shareholder demand in one of the major helium markets of the world.”
Drilling Update
Helium One has this week commenced mobilisation of a drilling rig and ancillary equipment to a forward holding yard near Mbeya. The yard, situated roughly 100km from the project area, provides a secure base to collect together materials from a range of sources prior to final delivery to the first drilling location.
Although the drill rig itself is mobilising from a location in Tanzania, the Company is working with a range of service providers to bring ancillary and support equipment to Rukwa from all over the world. Items in transit include casing from China, drilling mud additives from South Africa and Canada, wireline tools and testing equipment from USA and Australia, and bridge-plugs for secure suspension of discovery wells imported from the UK.
On the ground activity at Rukwa continues to ramp-up while we await final ESIA approval with the establishment of a secure, fenced, tented accommodation camp facility to house up to 50 workers and specialists for the duration of the drilling campaign.
Mobilisation is progressing on time to allow the Company to achieve its target spudding date of mid-May.
OTCQB Cross Trading
Trading on the US OTC market is due to commence today at market open in the US and will have no impact on the Company’s existing ordinary shares trading on the AIM Market of the London Stock Exchange. No new ordinary shares were issued as part of the cross-trade. The Group will continue to make announcements and disclosures to the London Stock Exchange through the Regulatory News Channel and has no Sarbanes-Oxley or SEC reporting requirements.
The cross-trading facility is provided through OTC Markets Group Inc., located in New York. OTC Markets operates the world’s largest electronic interdealer quotation system for US broker dealers and offers multiple media channels to increase the visibility of OTC-listed companies. Independent studies show that trading on the OTC by an international company offers a positive effect on the liquidity of its shares.
The Company would like to thank Nikolaos Galanopoulos of Galanopoulos & Company, the corporate securities law firm that acted as Sponsor for the Company’s application to commence cross-trading on the OTCQB board of the OTC Markets.
Investor Presentation
David Minchin CEO will provide a live investor presentation via the Investor Meet Company platform on 6th May 2021 at 3:00pm BST. The presentation will provide an update on the progress on the Company’s exploration activities on the Rukwa Project this year, including an update on preparations for our maiden drilling programme, and will also outline anticipated post-discovery activities for the year ahead.
The presentation is open to all existing and potential shareholders. Questions can be submitted pre-event via the Investor Meet Company dashboard up until 9am the day before the meeting or at any time during the live presentation.
Investors can sign up to Investor Meet Company for free and ask to meet Helium One Global Ltd via:
https://www.investormeetcompany.com/helium-one-global-ltd/register-investor
Investors who already follow Helium One Global Ltd on the Investor Meet Company platform will automatically be invited.
For further information please visit the Company’s website: www.helium-one.com
