Helios Energy to Raise AU$69,325 via Convertible Notes Issue

MT Newswires Live

02/07

Helios Energy (ASX:HE8) received firm commitments to raise AU$691,325 by issuing convertible notes to Thorny Investment Group and additional oil and gas investors, according to a Friday filing with the Australian bourse.

The company will issue 691,325 notes, each with a face value of AU$1, the filing said.

The funds raised will support ongoing oil and gas exploration of the company's Presidio project in Texas, repayment of current director and staff loans, and as regulatory working capital for Helios Energy's license renewal.

Gleneagle Securities led the convertible note raise, per the filing.

Shares of the company rose past 7% at market close.

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