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Onfolio Agrees to Strategic Combination With Paramount Helium; Shares Rise

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Onfolio (ONFO) signed a binding letter of intent for a strategic combination with Paramount Helium to gain access to helium and carbon dioxide assets in Arizona, the company said Wednesday.

Paramount Helium has agreed with the secured creditors of Proton Green to acquire the senior debt secured by the assets, the company said.

Onfolio said the transaction would provide access to an estimated 20 billion cubic feet of recoverable helium resources, including helium-3 for quantum computing and other advanced applications.

Onfolio shares were up more than 37% in Wednesday trading.

Price: $0.54, Change: $+0.14, Percent Change: +35.79%

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