Business
Helius Minerals Announces Non-Brokered Private Placement to Raise up to Cdn$2,150,000
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES VANCOU...
About this update from Helius Minerals Limited
[{"type":"text","content":"Helius Minerals Announces Non-Brokered Private Placement to Raise up to Cdn$2,150,000\n\n\n\n\n NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES\n \n\n\n VANCOUVER, British Columbia, March 25, 2025 (GLOBE NEWSWIRE) -- Helius Minerals Limited (“\n \n Helius\n \n ” or the “\n \n Company\n \n ”) (TSXV: HHH) is pleased to announce that it is arranging a non-brokered private placement (the “\n \n Private Placement\n \n ”) comprised of the sale of up to 4,300,000 common shares of the Company (each, an “\n \n Offered Share\n \n ” and each common share of the Company, a “\n \n Common Share\n \n ”) at a price of Cdn$0.50 per Offered Share.\n \n\n The Company plans to allocate at least US$500,000 of the net proceeds from the Private Placement towards the Serra Pelada gold-PGM project in Brazil (the “\n \n Serra Pelada Project\n \n ”). As disclosed in the Company’s news release of March 4, 2024, the Company has entered into an Exclusivity, Share Option and Acquisition Agreement dated as of March 3, 2025 (the “\n \n Definitive Agreement\n \n ”) between the Company and Colossus Minerals Inc. (“\n \n Colossus\n \n ”) regarding the Serra Pelada Project. Colossus placed Serra Pelada on a care and maintenance program in 2014 when Colossus became insolvent. The Serra Pelada Project property interests are held indirectly by Colossus’ Brazilian subsidiaries, Colossus Mineração Ltda. (“\n \n Colossus Brazil\n \n ”) and Mineração Fazenda Monte Belo Ltda. (“\n \n MFM\n \n ” collectively with Colossus Brazil, the “\n \n Target Companies\n \n ”).\n \n\n Under the Definitive Agreement, Helius has been provided with a twelve-month exclusivity period (the “\n \n Organizational Period\n \n ”) during which it would raise not less than US$1 million (the “\n \n Initial Financing\n \n\n Requirement\n \n ”) and allocate a minimum of US$500,000 to undertake the following activities:\n \n\n\n Reviewing and developing a plan to ensure compliance with relevant mining laws and other regulatory requirements;\n \n\n Formulating a comprehensive strategy to address outstanding debts, including those related to ongoing litig...