Onfolio enters binding LOI with Paramount Helium to access US helium resource

Corporate ActionCommodity Impact 4
โดย GlobeNewswire·Read original
Summary · why it matters

Onfolio Holdings has executed a binding letter of intent with Paramount Helium for a strategic combination that would give the company access to an estimated $3 billion US-based helium resource. Paramount Helium has agreed to terms with secured creditors of Proton Green to acquire the senior debt position secured by Proton Green’s helium and carbon dioxide assets in the St. Johns Unit in northeastern Arizona. The resource is estimated to hold recoverable volumes of more than 20 billion cubic feet of helium, approximately ten times the size of the recently privatized US Federal Helium Reserve, and independent analysis has identified the St Johns Dome as containing the largest identified terrestrial resource of helium-3, a rare isotope critical to quantum computing, with an expected sales value of $10 to $20 million per kilogram. Onfolio believes the assets could support a world-class position in the global helium market and the largest single source of production in the North American merchant carbon dioxide market, targeting potential supply into semiconductor manufacturing, space exploration, and aerospace and defense.

Impact on stocks 1

Communication Services▲ · 1 stocks
Onfolio Holdings Inc
ONFO
▲ PositiveSupplyrelevance

Onfolio enters binding LOI to access a $3 billion helium resource, positioning it as a major helium producer.

Theme Impact 5

Off-coverage companies 2

Paramount HeliumPrivate▲ Positive
Capitalrelevance

Paramount Helium agrees to acquire senior debt position, enabling the strategic combination with Onfolio.

Proton GreenPrivate± Mixed
Capitalrelevance

Proton Green's secured creditors are involved in the debt acquisition, but the company itself is not directly discussed.

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