Helium One Global Ltd has raised £1.5 million through an oversubscribed retail offer for 250m new ordinary shares, at 0.6 pence per share.
TVRs
The company said it increased its target figure of £1m following strong support from its retail shareholders.
The sum adds to the £3.5m raised by way of a direct subscription for 583,333,334 shares.
On admission of the retail and subscription shares, Helium One’s issued share capital will comprise 10,155,492,215 ordinary shares, with one voting right each.
The company does not hold any ordinary shares in treasury.
Helium One is advancing its project in the Southern Rukwa Basin, Tanzania and its 50-50 Galactica-Pegasus joint venture in Colorado, USA.