- Helios Energy (HE8) has entered a trading halt ahead of an upcoming capital raise
- The only details available on the capital raise are that it’s being jointly managed by CPS Capital Group and Gleneagle Securities
- It isn’t clear how much will be raised or what the money will be used for but these details should be announced by Wednesday, July 21
- As of July 19, the company had $9 million in cash and no debt
- Helios Energy’s shares last traded at 16 cents on Friday, July 16
Helios Energy (HE8) has entered a trading halt ahead of an upcoming capital raise.
Helios is an oil and gas company that’s solely focused on assets within the US state of Texas. Its major focus is the Presidio Oil Project located in county of Presidio.
At this stage, the only details available regarding the capital raise are that it’s being jointly managed by CPS Capital Group and Gleneagle Securities.
Other details, including how much will be raised and what the funding will be used for, will be announced by the time Helios’ shares come out of the trading halt which is expected on Wednesday, July 21.
The last time the company raised capital was in late February. Around $11.4 million was raised through a placement to support working capital and buying more oil and gas leases in the Presidio Oil Project.
This project covers 66,776 gross net acres (27,023 hectares) and is Helios Energy’s main focus.
As of July 19, the company had $9 million in cash and no debt.
Helios Energy’s shares last traded at 16 cents on Friday, July 16.