HyTerra (ASX: $HYT) Funding Secured for Hydrogen & Helium Drilling Program

HyTerra Limited (ASX: $HYT) has announced a capital raising of approximately A$6.1 million through a placement to sophisticated and professional investors and a fully underwritten non-renounceable rights issue. The funds will be utilized for a multi-well exploration drilling program along the Nemaha Ridge, Kansas, USA, with the aim of pursuing growth activities.

Executive Commentary on Capital Raising and Exploration Program

HyTerra Executive Director, Mr Avon Mclntyre, expressed the significance of the capital raising, stating, 'This capital raising is a watershed moment for not only HyTerra, but the whole White Hydrogen sector. White Hydrogen made by nature could be a gamechanger. We have multiple hydrogen and helium drill targets in our lease portfolio and are eager to get them drilled.' He also encouraged investors and shareholders to review the Company's corporate presentation for further details on the Nemaha Ridge Project and the potential of White Hydrogen in the Mid-West USA.

Summary of Capital Raising and Exploration Plans

HyTerra Limited (ASX: $HYT) has successfully secured funding for a multi-well exploration drilling program along the Nemaha Ridge, Kansas, USA. The capital raising of approximately A$6.1 million will support the execution of the drilling program and additional activities to add value for shareholders. The Company aims to commence drilling in Q3'24 and has identified multiple drilling targets covering a diverse range of geological plays. Furthermore, HyTerra's focus on natural hydrogen and helium resources presents significant opportunities in the low-carbon feedstock and fuel sector, positioning the Company as a first mover in this space.