• Helix Resources (HLX) opens its $2 million stock purchase plan (SPP) for eligible shareholders, as part of its $13 million fundraising
• The company also opened its SPP to eligible registered shareholders in Australia and New Zealand to purchase up to $30,000 of shares at the same issue price as the placement.
• Funds raised from the fundraising will be used to accelerate exploration and development activities in the company’s copper-focused programs in the greater Cobar area
• In the market this morning, Helix was in the gray trading at 1.3 cents per share

Helix Resources (HLX) has announced the opening of a $2 million stock purchase plan (SPP) for eligible shareholders, as part of the company’s $13 million fundraising.

Eligible shareholders registered in Australia and New Zealand can purchase up to $30,000 of shares at 1.2 cents per share.

The issue price of the SPP represents a discount of 20% to the closing share price at the time of the announcement of the SPP and 20.8% to the five-day volume-weighted average price (VWAP ).

The offering is expected to close on May 6, with the new shares to be issued on May 13 and trading to begin on May 16.

Funds raised from the fundraising would be used to accelerate exploration and development activities in the company’s copper-focused programs in the greater Cobar area.

Activities include copper discovery progress and resource growth at Rochard, including the Canbelego project, and at Collerina, including the CZ project, as well as metallurgical testing and development studies.

In the market this morning, Helix was in the gray and trading at 1.3 cents per share at 10:09 a.m. AEDT.