Helius Minerals Announces Exercise of Option to Acquire the Serra Pelada Gold - PGM Project

Helius Minerals Limited (HHH) has officially exercised its option to acquire Colossus Minerals' Brazilian subsidiaries, securing a 75% interest in the Serra Pelada Gold-PGM project in Pará, Brazil. To facilitate the transaction, the company satisfied escrow release conditions tied to a February 2026 brokered private placement, converting subscription receipts into units and releasing net proceeds to fund the closing.

The transaction is scheduled to close no later than July 31, 2026, subject to regulatory approvals and the resolution of liabilities. The financing raised approximately $40 million gross at $3.00 per security, with warrants exercisable at $4.50 for three years. Management highlighted ongoing workstreams regarding closing procedures, liability negotiations, and compliance with the National Mining Agency (ANM).

The exercise of the option marks a procedural milestone in a transaction announced in March 2025. The market has already priced in significant progress, as evidenced by the stock's run from $0.70 to a high of $6.75. The release confirms financing is in place and TSXV regulatory approvals are secured.

Helius Minerals Limited (HHH) is a mining company focused on the Serra Pelada Gold-PGM project in Pará, Brazil. The project holds a 75% interest via SPCDM, with a 25% stake held by a local mining cooperative (COOMIGASP). The asset has been dormant since 2014 but retains historical drilling and underground infrastructure. The company is in the pre-revenue, acquisition/integration phase, focusing on liability resolution, regulatory compliance, and technical reporting.