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Mendell Helium announces that it has issued 667,000 new ordinary shares at a price of 3 pence per share (the “Shares”) and 500,000 warrants over new ordinary shares with an exercise price of 3 pence per share exercisable for a period of two years from Admission (as defined below),  in lieu of certain accrued liabilities owed by the Company.

Admission

Application has been made for the Shares to be admitted to trading on the Aquis Stock Exchange AQSE Growth Market (“Admission”). Admission is expected to occur at 8:00 am on or around 15 October 2024.

Total voting rights

Following Admission, the Company’s enlarged share capital will comprise 43,885,160 ordinary shares of 1 pence each. Therefore, the total number of voting rights in the Company will be 43,885,160. This figure may be used by shareholders as the denominator for calculations by which they will determine if they are required to notify their interest in the Company, or a change to their interest in the Company, under the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules.

As announced on 27 June 2024, the Company has an option to acquire M3 Helium Corp., a producer of helium based in Kansas and with an interest in six wells.  There is no certainty that the Company’s option to acquire M3 Helium will be exercised, nor that the enlarged group will successfully complete its re-admission to trading on the AQSE Growth Market.

This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.