Mendell Helium Raises £5 million with Fortified Securities as Co-Broker
- 2 days ago
- 1 min read
Fortified Securities is pleased to have acted as co-broker, alongside OAK Securities and SI Capital Limited, to Mendell Helium plc (AQSE: MDH) on its successful £5 million placing and subscription, completed through the issue of 125,000,000 new Ordinary Shares at 4 pence per share.
The funding enables Mendell Helium to complete its acquisition of M3 Helium Corp. and accelerate development of its Fort Dodge helium operations in Kansas, USA.
Use of Proceeds:
Re-completion of the Schneweis Ventures 13 well targeting May 2026
Drilling of four new production wells in Fort Dodge through 2026
Construction of a second helium purification plant
"Today's £5 million Fundraise is a major step forward for Mendell Helium and we are delighted by the strong backing that we have received from institutional investors," said Nick Tulloch, CEO of Mendell Helium.
With pilot production already underway at Rost and an expanding development pipeline across the prospective Morrow Sands formation, Mendell Helium continues to build its position as a very promising independent helium producer in the United States.
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