LONDON: Voyager Life has entered into an option agreement to acquire the entire issued share capital of M3 Helium Corp., a producer of helium based in Kansas, USA. 

The option agreement gives Voyager the right to acquire M3 Helium through the issue of 57,611,552 new ordinary shares in Voyager to M3 Helium’s shareholders, representing 57 per cent of the issued share capital of Voyager as enlarged by the new ordinary shares following the option and the fundraise.

Nick Tulloch, Chief Executive Officer and Founder of Voyager, said: “Investors might understandably be surprised by our decision to restructure our business as a helium producer but, although the change may seem sudden, it is the product of a considered plan.  Eric Boyle and I have known Paul Mendell, founder of M3 Helium, for many years.  We worked together at Highlands Natural Resources and Paul was one of Voyager’s first directors. 

Prior to founding Voyager, we looked at a different helium opportunity in Kansas together – it was not suitable for a number of reasons; Eric and I went on to lead Voyager and Paul continued to develop other opportunities.

“In the past two years, it is apparent that investors have developed a degree of caution around cannabis and CBD companies. The sector has been beset by disappointments and share prices, including our own, have underperformed.  Conversely, helium opportunities have become highly popular as evidenced by the success of recent fundraisings, again including our own. 

We may reflect that it is ironic that we are switching horses just as our CBD business reaches new levels of success but we have a responsibility to our shareholders to act in their best interests.

A health & wellness manufacturer and e-commerce business like Voyager may be better suited as a private company or being part of a larger entity whereas our public company can support a fast-growing natural resources opportunity.

“M3 Helium offers several significant benefits.  With proven geology in one of the USA’s most recognised resources postcodes, the company is already producing helium and, even more importantly, has access to infrastructure to transport, process and bring it to market. 

M3 has established its production credentials and we know the likely cost of new wells.  We can apply funding raised to develop and extend M3’s asset base with the clear goal of accelerating and increasing helium production.

“The option structure announced today gives the two companies the ability to work together on further investments in Kansas whilst we complete the admission document and conclude the acquisition.  As the coming months unfold, I can assure shareholders that, following on from this successful fundraising, they can look forward to further newsflow as we continue our production roll out in Kansas.”