The public companies and capital markets team at Gowling WLG has advised Liberum Capital and Peterhouse Capital on a £9.9 million placing and subscription for Helium One Global, the primary helium explorer in Tanzania.

The oversubscribed placing was conducted through an accelerated bookbuild process undertaken by Liberum and Peterhouse acting as joint bookrunners.

Helium One Global, the AIM-traded Tanzanian explorer, holds prospecting licences totalling 2,966km2 across three distinct project areas, with the potential to become a strategic player in resolving a supply-constrained helium market. The net proceeds of the fundraise will be used for a targeted single well exploration drilling programme of the Tai prospect in the Rukwa Basin.

Principal associate in Gowling WLG's capital markets team, Alex Davidson, led on the fundraising, supported by corporate partner Charles Bond and trainee Anna Samokhina.

Commenting on the fundraise, Alex Davidson said:

"We are delighted to have assisted Liberum and Peterhouse in completing such a successful fundraise and look forward to seeing Helium One Global build on its existing success."