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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.