Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, August 11, 2023

Article Excerpt

TOTAL HELIUM LTD., $0.43, symbol TOH on the TSX Venture Exchange, aims to become a significant producer of helium. Its focus is now on a recently acquired interest in the Pinta South helium field in Arizona. In March 2023, Total Helium announced that it had entered into a transaction with Brooks Range Corporation to acquire 20% working interest in two producing wells at the Pinta South helium field, a 50% working interest in eight more wells at the Arizona project, and a 50% interest in any future wells beyond those 10. The company paid $12 million U.S. in cash for all of the above. It will also provide $2 million U.S. for a future capital development program. Meanwhile, Total Helium has partnered with German firm Linde plc (symbol LIN on New York) to help fund the Pinta South project. Linde is the world’s largest industrial gas producer; it has committed to fund a pipeline expansion at the Pinta South project and to purchase…