Helium One Global Ltd Announces Notice of Conversion of Advance

Rhea-AI Summary

Helium One Global (HLOGF) has received conversion notices totaling £1,650,000 from investors following the approval of the Investment Agreement on July 18, 2025. The conversion price is set at 0.235p, representing a 21.7% discount to the closing mid-price on September 18, 2025, resulting in the issuance of 702,127,658 new ordinary shares.

Upon admission on September 25, 2025, the company's total ordinary shares will increase to 7,716,654,294. The company holds significant helium assets, including the Rukwa Project in Tanzania, which successfully flowed 5.5% helium in Q3 2024, and a 50% stake in the Galactica-Pegasus project in Colorado, where wells have shown helium concentrations up to 3.3% with production expected in Q4 2025.

[ "Mining License formally awarded for 480km2 area in Tanzania in July 2025", "Successful extended well test at Itumbula West-1 showing 5.5% helium flow", "Galactica-Pegasus project showing promising helium concentrations up to 3.3%", "Near-term production expected in Q4 2025 for Colorado operations" ]

Positive

• None.

Negative

• Significant share dilution with 702,127,658 new shares being issued
• 21.7% discount on share conversion price compared to market price

LONDON, UK / ACCESS Newswire / September 24, 2025 / Further to the approval of the Investment Agreement dated 18 July 2025 by shareholders at a General Meeting held on 6 August 2025, the Company has received conversion notices totalling £1,650,000 from the Investors.

Pursuant to the terms of the Investment Agreement, the conversion price has been calculated at 0.235p and this represents a discount of approximately 21.7% to the closing mid-price of the Company's existing Ordinary Shares on 18 September 2025 (the day prior to the conversion notice being received). This will result in the allotment of 702,127,658 new Ordinary Shares.

Admission and Total Voting Rights

Applications have been made for the new ordinary shares to be admitted to trading on AIM ("Admission"). Admission is expected to become effective on 25 September 2025.

Upon Admission, the Company's issued ordinary share capital will consist of 7,716,654,294 Ordinary Shares with one voting right each. The Company does not hold any Ordinary Shares in treasury. Therefore, from Admission the total number of Ordinary Shares and voting rights in the Company will be 7,716,654,294. With effect from Admission, this figure may be used by Shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

Helium One Global Ltd	+44 20 7920 3150
Lorna Blaisse, CEO Graham Jacobs, Finance and Commercial Director
Panmure LiberumLimited (Nominated Adviser and Joint Broker) Scott Mathieson Gaya Bhat	+44 20 3100 2000
Zeus Capital Limited (Joint Broker) Simon Johnson Louisa Waddell	+44 20 3829 5000
Tavistock(Financial PR) Nick Elwes	+44 20 7920 3150

Notes to Editors

Helium One Global, the primary helium explorer in Tanzania with a 50% working interest in the Galactica-Pegasus helium development project in Colorado, USA. The Company holds helium licenses within two distinct helium project areas, across two continents. With an expanding global footprint, the company has the potential to become a strategic player in resolving a supply-constrained helium market.

The Company's flagship southern Rukwa Project is located within the southern Rukwa Rift Basin in south-west Tanzania. This project is entering a full appraisal and development stage following the success of the 2023/24 exploration drilling campaign, which proved a helium discovery at Itumbula West-1 and, following an extended well test ("EWT"), successfully flowed 5.5% helium continually to surface in Q3 2024.

Following the success of the EWT, the Company filed a Mining Licence ("ML") application with the Tanzania Mining Commission in September 2024 and the 480km² ML was formally awarded to the Company in July 2025.

The Company also owns a 50% working interest in the Galactica-Pegasus helium development project in Las Animas County, Colorado, USA. This project is operated by Blue Star Helium Ltd (ASX: BNL) and has successfully completed a six well development drilling campaign in H1 2025. The completion of the development programme is a key component of the broader Galactica-Pegasus development strategy; aimed at progressing the helium and CO₂ discoveries to near-term commercial production.

This programme has seen a systematic approach to developing the extensive Lyons Formation reservoir. The programme has delivered encouraging results, in line with expectations, consistently encountering good helium (up to 3.3% He) and CO₂ concentrations in the target formation and demonstrating promising flow potential. The next steps will see the Galactica wells tied into initial production in Q4 2025.

Helium One is listed on the AIM market of the London Stock Exchange with the ticker of HE1.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: Helium One Global Ltd

View the original press release on ACCESS Newswire

FAQ

What is the conversion price for Helium One Global's (HLOGF) recent investment agreement?

The conversion price has been set at 0.235p, representing a 21.7% discount to the closing mid-price on September 18, 2025.

How many new shares will be issued by Helium One Global (HLOGF) following the conversion?

The company will issue 702,127,658 new ordinary shares, bringing the total number of shares to 7,716,654,294 upon admission.

What are the recent developments in Helium One Global's (HLOGF) Tanzania operations?

The company's Rukwa Project successfully flowed 5.5% helium in Q3 2024 and was awarded a 480km2 Mining License in July 2025.

When will Helium One Global's (HLOGF) Colorado operations begin production?

The Galactica-Pegasus project in Colorado, showing helium concentrations up to 3.3%, is expected to begin initial production in Q4 2025.

What is the total value of the conversion notices received by Helium One Global (HLOGF)?

The company received conversion notices totaling £1,650,000 from investors following the Investment Agreement approval.