LONDON: Helium Ventures plc announced Tuesday a series of strategic moves, including a proposed name change to VaultZ Capital plc, a £1.2 million ($1.5 million) equity fundraise and plans to establish a Bitcoin treasury function.
The company entered a non-binding memorandum of understanding with Cayman Islands-based NewQube Holdings Ltd. to manage Bitcoin investments through a new subsidiary, VaultZ Treasury. The strategy aims to:
– Accumulate Bitcoin as a long-term reserve asset.
– Fund future acquisitions using equity, debt and structured financing.
– Actively manage holdings through selective divestments.
NewQube will receive 2.5 million Helium shares if shareholders approve the plan at an upcoming general meeting.
Helium raised £478,050 ($610,000) via a subscription of 23.9 million new shares priced at £0.02 each. An additional £721,950 ($920,000) is pending shareholder approval.
Non-Executive Director Charlie Wood participated in the fundraising, acquiring 750,012 shares total. Independent director Fungai Ndoro deemed the terms fair for shareholders.
Proceeds will support the Bitcoin strategy and corporate operations. The company also plans to issue shares to settle advisory fees and liabilities.
Helium cited companies like MicroStrategy, which holds over 130,000 Bitcoin, and Japan’s Metaplanet Inc., with a 120% year-to-date treasury yield from its 5,000 BTC holdings, as validation for its strategy. The U.S. government has also explored Bitcoin as a potential reserve asset.
Shareholders will vote on the rebrand to VaultZ Capital and the Bitcoin treasury proposal at a future meeting.