10 October 2024
Mendell Helium
plc
("Mendell
Helium" or the "Company")
Issue of Equity &
Warrants
Mendell Helium announces that
it has issued 667,000 new ordinary shares at a price of 3 pence per
share (the "Shares") and 500,000 warrants over new ordinary shares
with an exercise price of 3 pence per share exercisable for a
period of two years from Admission (as defined below), in
lieu of certain accrued liabilities owed by the Company.
Admission
Application has been made for the
Shares to be admitted to trading on the Aquis Stock Exchange AQSE
Growth Market ("Admission"). Admission is expected to occur at 8:00
am on or around 15 October 2024.
Total voting rights
Following Admission, the Company's
enlarged share capital will comprise 43,885,160 ordinary shares of
1 pence each. Therefore, the total number of voting rights in the
Company will be 43,885,160. 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.
As
announced on 27 June 2024, the Company has an option to
acquire M3 Helium Corp., a producer of helium based in Kansas and
with an interest in six 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 its
re-admission to trading on the AQSE Growth
Market.
This announcement contains inside
information for the purposes of the UK Market Abuse Regulation and
the Directors of the Company are responsible for the release of
this announcement.
ENDS
Enquiries:
Mendell Helium plc
Nick Tulloch, CEO
|
Tel: +44 (0) 1738 317 693
http://voyagerlife.uk
nick@voyagerlife.uk
|
Cairn Financial Advisers LLP (AQSE Corporate
Adviser)
Ludovico Lazzaretti/Liam
Murray
|
Tel: +44 (0) 20 7213 0880
|
SI
Capital Limited (Broker)
Nick Emerson
|
Tel: +44 (0) 1483 413500
|
Stanford Capital Partners Ltd (Broker)
Patrick Claridge/Bob Pountney
|
Tel: +44 (0) 203 3650 3650/51
|
Brand Communications (Public & Investor
Relations)
Alan Green
|
Tel: +44 (0) 7976 431608
|
Overview of M3 Helium and the
Hugoton North Play
Mendell Helium, formerly Voyager
Life plc, announced on 27 June 2024 that it has entered into an
option agreement to acquire the entire issued share capital of M3
Helium through the issue of 57,611,552 new ordinary shares in
Mendell Helium to M3 Helium's shareholders. The exercise of
the option will constitute a reverse takeover pursuant to AQSE Rule
3.6 of the Access Rule Book and is subject to, inter alia, publication of an admission
document.
M3 Helium has interests in six wells
in South-Western Kansas of which three (Peyton, Smith and Nilson)
are in production. Five of the company's wells are within the
Hugoton gas field, one of the largest natural gas fields in North
America. Significantly these wells are in the proximity of a
gathering network and the Jayhawk gas processing plant meaning that
producing wells can quickly be tied into the
infrastructure.
The sixth well is in Fort Dodge and
was tested in July 2024 as containing 5.1%
helium composition. Although not within direct access to the
gathering network, M3 Helium owns a mobile Pressure Swing
Adsorption production plant which could be
used to purify the helium on site.
FORWARD LOOKING STATEMENTS
This announcement includes
"forward-looking statements" which include all statements other
than statements of historical facts, including, without limitation,
those regarding the Company's financial position, business
strategy, plans and objectives of management for future operations,
or any statements preceded by, followed by or that include the
words "targets", "believes", "expects", "aims", "intends", "will",
"may", "anticipates", "would", "could" or "similar" expressions or
negatives thereof. Such forward-looking statements involve known
and unknown risks, uncertainties and other important factors beyond
the Company's control that could cause the actual results,
performance or achievements of the Company to be materially
different from future results, performance or achievements
expressed or implied by such forward-looking statements. Such
forward-looking statements are based on numerous assumptions
regarding the Company's present and future business strategies and
the environment in which the Company will operate in the future.
These forward-looking statements speak only as at the date of this
announcement. The Company expressly disclaims any obligation or
undertaking to disseminate any updates or revisions to any
forward-looking statements contained herein to reflect any change
in the Company's expectations with regard thereto or any change in
events, conditions or circumstances on which any such statements
are based unless required to do so by applicable law.