11 November 2024
Mendell Helium
plc
("Mendell
Helium" or the "Company")
Result of General Meeting and
Completion of Disposal
The General Meeting of the
Shareholders of Mendell Helium was held today at 11.30 am (UK) at Arran House, Arran
Road, Perth, Perthshire PH1 3DZ. The Company is pleased to confirm
that the resolution was duly passed.
This was the final condition for the
disposal ("Disposal") by
the Company of its plant based health & wellness business
("Voyager") to Orsus
Therapeutics plc ("Orsus")
announced on 14 October 2024. The Company is therefore
pleased to confirm that the Disposal has completed and the business
and assets of Voyager have been transferred to Orsus.
Eric Boyle, Chairman of Mendell Helium,
said: "We are pleased to confirm the completion of
the sale of our plant based health & wellness business to
Orsus. Over the past four years, we have developed several
high profile and substantial customers in our manufacturing
division alongside three brands with over 100 product
formulations. We wish Orsus well in the next phase of
building the Voyager business."
The Directors of the Company are
responsible for the release of this announcement.
ENDS
Enquiries:
|
Mendell Helium plc
Nick Tulloch, CEO
|
Tel: +44 (0) 1738 317 693
nick@mendellhelium.com
https://mendellhelium.com/
|
|
Cairn Financial Advisers LLP (AQSE Corporate
Adviser)
Ludovico Lazzaretti/Liam
Murray
|
Tel: +44 (0) 20 7213 0880
|
|
SI
Capital Limited (Broker)
Nick Emerson
|
Tel: +44 (0) 1483 413500
|
|
Stanford Capital Partners Ltd (Broker)
Patrick Claridge/Bob Pountney
|
Tel: +44 (0) 203 3650 3650/51
|
|
Brand Communications (Public & Investor
Relations)
Alan Green
|
Tel: +44 (0) 7976 431608
|
Overview of M3 Helium and the
Hugoton North Play
Mendell Helium, formerly Voyager
Life plc, announced on 27 June 2024 that it has entered into an
option agreement to acquire the entire issued share capital of M3
Helium through the issue of 57,611,552 new ordinary shares in
Mendell Helium to M3 Helium's shareholders. The exercise of
the option will constitute a reverse takeover pursuant to AQSE Rule
3.6 of the Access Rule Book and is subject to, inter alia, publication of an admission
document.
M3 Helium has interests in nine
wells in South-Western Kansas of which five (Peyton, Smith, Nilson,
Bearman and Demmit) are in production. Eight of the company's
wells are within the Hugoton gas field, one of the largest natural
gas fields in North America. Significantly these wells are in
the proximity of a gathering network and the Jayhawk gas processing
plant meaning that producing wells can quickly be tied into the
infrastructure.
The ninth well is in Fort Dodge and
was tested in July 2024 as containing 5.1%
helium composition. Although not within direct access to the
gathering network, M3 Helium owns a mobile Pressure Swing
Adsorption production plant which could be
used to purify the helium on site.