Latest news with #Helius
Cision Canada
09-05-2025
- Business
- Cision Canada
Helius' Transaction with Colossus on Serra Pelada Project Receives Colossus Shareholder Approval
VANCOUVER BC, May 9, 2025 /CNW/ - Helius Minerals Limited (" Helius" or the " Company") (TSXV: HHH) is pleased to announce that the shareholders of Colossus Minerals Inc. (" Colossus") at the special meeting of Colossus' shareholders held on May 2, 2025 passed a special resolution approving the sale to Helius of all of the shares (the " Target Companies' Shares") of Colossus Mineracao Ltda. (" Colossus Brazil") and Mineracao Fazenda Monte Belo Ltda. (" MFM", and together with Colossus Brazil, the " Target Companies"), representing all or substantially all of the property of Colossus, and thereby a 75% beneficial interest in the partnership called Serra Pelada – Companhia de Desenvolvimento Mineral (" SPCDM"), which partnership holds a 100% interest in the Serra Pelada gold-platinum-palladium mining project in Brazil (the " Serra Pelada Project"). Colossus became insolvent in 2014 after dewatering measures at the Serra Pelada Project proved inadequate in controlling water ingress. This created liquidity issues immediately before metal production was to commence, which led to Colossus' bankruptcy. The Serra Pelada Project was thereafter put on a care and maintenance program and Colossus halted all exploration, construction and development activities to conserve cash. As announced in Helius' news releases of March 4, 2025 and March 25, 2025, Helius entered into a definitive Exclusivity, Share Option and Acquisition Agreement dated March 3, 2025 (the " Definitive Agreement") with Colossus which provides Helius with a twelve-month exclusivity period to conduct financing (the " Financing") to undertake: (a) a review and development of a plan to ensure compliance with relevant mining laws and other regulatory requirements; (b) the formulation of a comprehensive strategy to address outstanding debts, including those related to ongoing litigation, of the Target Companies; and (c) the development of a detailed plan to rehabilitate the Serra Pelada Project, the Target Companies and SPCDM (collectively, the " Organizational Period Requirements"), to allow Helius to address certain regulatory and compliance matters to allow the Serra Pelada Project to move forward. As announced in Helius' news release dated April 11, 2025, Helius completed the Financing on April 10, 2025 by closing a non-brokered private placement of 4,300,000 common shares of the Company at a price of Cdn$0.50 per share to raise gross proceeds of $2,150,000. Upon Helius' satisfaction of the Organizational Period Requirements, and upon receipt of conditional approval from the TSX Venture Exchange, Helius could elect, in its sole discretion, to deliver notice (the " Option Notice") to Colossus of its decision to proceed with an irrevocable option (the " Option") to purchase: (a) all of the shares of the Target Companies' Shares; and (b) all of the intercorporate loans and all interest accrued thereunder (the " Intercompany Debt") owed by the Target Companies to Colossus, if any. Upon Helius' exercise of the Option within six months of the date of delivery of the Option Notice, the parties would proceed with closing of Helius' purchase of the Target Companies' Shares and any Intercompany Debt. Helius is also pleased to announce that it has received approval from the holders of the existing senior secured convertible notes issued by Colossus (the " Existing Notes") in an aggregate principal amount of US$4 million (the " Existing Debt") to exchange said Existing Notes for amended senior secured convertible notes that Helius would issue to said noteholders in exchange for the Existing Debt. In addition, Helius is also pleased to announce that Christian Grainger, Evan Jones, Brian Cole and Samuel Clarke were elected to its board of directors at its annual general meeting of shareholders held April 29, 2025. Samuel Clarke is a new director and his appointment is subject to TSX Venture approval. Mr. Clarke has 20 years of mining executive experience, including roles as Finance Director or Chief Financial Officer at various public mining companies, and he is a Chartered Accountant. Helius' focus will now shift to completing certain due diligence on the Serra Pelada Project to satisfy the Organizational Period Requirements with a view to potentially exercising the Option to acquire the Target Companies' Shares and any Intercompany Debt. About Helius Minerals Limited Helius is a mineral exploration company focused on the identification and exploration of high-quality mineral assets across the Americas, with an emphasis on South American jurisdictions. On Behalf of the Board of Directors of Helius Minerals Limited Neither TSX Venture Exchange nor its Regulation Services Provider (as that term in defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS: This news release may contain forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," 'projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Forward-looking statements in this news release include, without limitation, statements regarding the acquisition in connection with Serra Pelada Project and Target Companies and the future satisfaction of the Organizational Period Requirements . These forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: the uncertainties inherent to current and future legal challenges that face the Serra Pelada Project and the Target Companies; controls, regulations, and political or economic developments in Brazil; changes in national and local government legislation in Canada and Brazil; the lack of certainty with respect to foreign legal systems, which may not be immune from the influence of political pressure, corruption or other factors that are inconsistent with the rule of law; the speculative nature of mineral exploration and development, including the risks of obtaining and maintaining the validity and enforceability of the necessary licenses and permits and complying with the permitting requirements of Brazil; fluctuations in the international currency markets and in the rates of exchange of the currencies of Canada, the United States and Brazil; significant capital requirements; risks related to fluctuations in metal prices; uncertainties related to raising sufficient financing to fund exploration work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Serra Pelada Project; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in conducting work programs; the risk of environmental contamination or damage resulting from Helius' operations and other risks and uncertainties. Any forward-looking statement speaks only as of the date it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
Business Journals
01-05-2025
- Business
- Business Journals
Helius Medical Technologies initiates 1-for-15 reverse stock split to meet Nasdaq requirements
The number of Helius outstanding shares on the Nasdaq exchange will be reduced from about 7.9 million to roughly 500,000.
Yahoo
14-03-2025
- Business
- Yahoo
Helius joins BCI landscape with new subsidiary
Helius Medical Technologies is muscling in on the promising brain computer interface (BCI) field with the launch of a new business focused on developing the tech. The business, called Revelation Neuro, will be a wholly owned private subsidiary focused on developing non-implantable versions of BCIs. Shares in the Nasdaq-listed company opened unchanged following the announcement. Helius Medical develops its own portable neuromodulation stimulator platform to help with movement and balance. The US company stated it will combine newly developed intellectual property (IP) with existing technology – the latter will be licensed to Revelation Neuro. While it has amassed over $70m in funding to date, Helius does not plan to pump additional capital into the subsidiary, instead opting to rely on financing through third-party sources. BCIs are chips implanted in brain tissue that take brain signals and translate them into commands. The measured signals, which can be described as 'thoughts', are relayed to a secondary, external device which then carries out a specific function. Through Revelation Neuro, Helius is opting to go down the non-implantable route. Whilst it did not reveal specifics of its planned BCI technology, a clue can be found in Helius' neuromodulation platform that uses the stimulation on the tongue to elicit brain activity. This method of modulation is known as translingual stimulation and does not require implantation. Helius' CEO Dane Andreeff said: 'We believe Revelation Neuro's BCI technology will be a unique and less invasive therapeutic option.' Revelation Neuro will also apply artificial intelligence (AI) to optimise response to the translingual stimulation, using datasets from Helius' experience in the movement dysfunction field. The algorithms will enable a precise and personalised approach to motor function rehabilitation. 'BCI-enabled improvement in functional rehabilitation is the initial focus of Revelation Neuro's efforts, with the potential in the future to address neurological conditions including cognitive deficit, mood and behaviour disorders,' Andreeff added. The BCI landscape has received plenty of public attention, primarily in part due to Elon Musk-owned Neuralink. The company has implanted two paralysed patients with its chips, helping them play video games and chess, amongst other activities. Other companies like Synchron, BrainGate, and Clinatec, are more advanced in their clinical journey but it is hard to predict when the first BCIs will reach market, although some experts reckon approvals will be seen within the decade. The US Food and Drug Administration (FDA) has already singled BCIs out due to their unique nature, issuing guidance in 2021 on their research and development. The agency shared its thoughts on a range of topics to help guide companies that are clinically testing devices but has so far remained tight-lipped on regulatory stipulates. "Helius joins BCI landscape with new subsidiary" was originally created and published by Medical Device Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
13-03-2025
- Business
- Yahoo
Solana Validators Prepare To Vote on Influential SIMD-228 Proposal Impacting Inflation
The Solana community is currently engaged in discussions around the SIMD-228 proposal, a governance initiative that aims to transform the network's tokenomics by introducing a dynamic emissions model for SOL tokens. Authored by Tushar Jain and Vishal Kankani of Multicoin Capital, the proposal seeks to replace the existing fixed inflation schedule of 4.6% annually, which decreases by 15% each year until stabilizing at 1.5%. Under the new model, the issuance rate of new SOL tokens would adjust based on the staking rate. If the percentage of staked SOL falls below a targeted threshold of 33%, the inflation rate would increase to incentivize staking. Conversely, higher staking rates would lead to lower emissions, reflecting the network's reduced need to 'overpay' for security. Proponents argue that this change could enhance the value of SOL by making it scarcer during periods of high staking. Voting on the proposal is set to kick off in epoch 753, which is expected to begin this weekend. Key figures in the Solana ecosystem, including co-founder Anatoly Yakovenko and Helius founder Mert Mumtaz, have expressed support for the initiative. Mumtaz stated that the proposal could strengthen the network while emphasizing the value of public discourse regardless of the outcome. However, not all voices in the community are in favor. Lily Liu, president of the Solana Foundation, has expressed skepticism about the proposal, labeling it 'too half-baked' and warning that its unpredictable staking yields could deter institutional investors. The authors of SIMD-228 have defended their proposal, asserting that it has undergone extensive discussion and input since its inception in January. Sign in to access your portfolio
