Helium One enters into agreement with Noble to source & secure a suitable drilling rig

Helium One Global

Helium One Global Ltd (LON:HE1), the primary helium explorer in Tanzania, has announced that, further to the announcement made by Noble Helium (ASX:NHE), the Company has entered into a co-operation agreement with Noble, pursuant to which Helium One and Noble have agreed to cooperate in sourcing and securing a suitable drilling rig, associated services and arranging logistics as required for the Company’s proposed drilling campaign. This agreement is not expected to impact the proposed drilling timeline as outlined in the Company’s AGM last week.

Also as announced on 9 February and following conclusion of AIM Regulatory Due Diligence, Lorna Blaisse has been appointed to the Board as an Executive Director of Helium One Global Ltd with immediate effect.

The board have resolved to issue 8,000,000 options in aggregate to subscribe for ordinary shares.  The Options have been issued as to 5,000,000 to Lorna Blaisse and 3,000,000 to Kai Gruschwitz, the Company’s new Technical Director.  The Options will vest in three equal tranches over the next 3 years and are exercisable at 6.25p per share, a premium of 16.8% to the closing share price on 22 February 2023, being the last practicable day before the issuance of the Options.

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