Business
Fundraise, Warrants and Issue of Equity
Fundraise, Warrants and Issue of Equity.
About this update from Mendell Helium Plc
[{"type":"text","content":"\n\n\n7 April 2025\n \nMendell Helium plc\n \n(\"Mendell Helium\" or the \"Company\")\n \nFundraise, Warrants and Issue of Equity\nDirector / PDMR Shareholding and Related Party Transaction\n \n \nMendell Helium is pleased to announce that the Company has raised approximately £796,000 by way of a placing (\"Placing\") and subscription (\"Subscription\") (together \"Fundraise\") through the issue of 39,807,950 new ordinary shares of 1 pence each in the Company (\"New Ordinary Shares\"), at an issue price of 2 pence per New Ordinary Share.\n \nAs announced on 27 June 2024, the Company has an option (the \"Option\") to acquire M3 Helium Corporation (\"M3 Helium\"), a producer of helium which is based in Kansas and holds an interest in nine 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 a re-admission.\n \nIn conjunction with the re-admission of the enlarged group, the Company is exploring opportunities to also admit its shares to trading on alternative UK stock exchanges.\n \nPlacing\nAs part of the Fundraise, the Company has raised gross proceeds of £165,000 through the issue of 8,250,000 New Ordinary Shares (the \"Placing Shares\"), at the Issue Price, pursuant to the Placing.\n \nSubscription\nIn addition to the Placing, the Company has raised gross proceeds of £631,159 through the issue of 31,557,950 New Ordinary Shares (the \"Subscription Shares\"), at the Issue Price, pursuant to the Subscription. The majority of the Subscription was carried out directly by the Company and will not incur payment of commissions, other than in respect of £100,000 that was arranged by brokers.\n \nDirector Participation & Director / PDMR Shareholding\nAs part of the Subscription, Eric Boyle, Non-Executive Chairman, has subscribed for £10,000 of Subscription Shares (\"Director Participation\") as set out in the table below.\n \n\n\n\n\nDirector\n\n\nAmount subscribed for in the Subscription\n\n\nNumber of Subscription Shares\n\n\nNumber of Warrants\n\n\nResultant shareholding following Admission\n\n\n\n\nEric Boyle\n\n\n£10,000\n\n\n500,000\n\n\n500,000\n\n\n3,087,474\n\n\n\n\n \nRelated Party Transaction\nThe Director Participation (the \"Transaction\") is...