North American helium exploration company Global Helium Corporation will now trade on US OTC Markets under the new symbol “HECOF”.
The company on Wednesday (22nd Sept) said it had received approval for the change, which is believed to better reflect the actively traded Canadian Securities Exchange symbol “HECO”.
In addition to the symbol change, Global Helium has also received approval from the Depository Trust Company to make the company’s common shares eligible to be electronically cleared and settled.
A huge player in the Canadian helium market, Global Helium currently stands as one of the largest landholders in Saskatchewan’s helium runway, having earlier this month acquired more acreage in the province.
On the trade changes, Wes Siemens, President of Global Helium, said, “We are pleased to have obtained DTC eligibility and we view trading on the OTC Market as an important step for global to reach a broad and diverse audience with our story and to complement our existing investor base.”
“We already have a large US investor base and today’s news is an important milestone to strengthen our market presence. This will lead to greater liquidity as well as our sharing becoming more accessible to a broader range of investors.”
Saskatchewan’s emergence as a new helium hub
In the latest edition of gasworld US, we heard exclusively from Bronwyn Eyre, Minister of Energy and Resources for the Saskatchewan Government, about the province’s helium potential.
At the time of publication, Saskatchewan has the fifth-largest helium resource in the world with significant underground reserves with some attractive geology.
In addition to that, the province currently has ten producing helium wells and Minister Eyre told gasworld the province’s ambitious goal is to eventually surpass 150 wells.
Read the full feature here.