Pulsar Announces Acceleration of Warrant Expiry Date

Rhea-AI Summary

Pulsar Helium Inc. (PSRHF) accelerates the expiry date of common share purchase warrants to strengthen treasury and fund work programs. The company aims to unlock the full value of the Topaz discovery by exercising warrants early, potentially raising CAD$3.3 million. Investors are urged to review exercise requirements before the Accelerated Expiry Date on May 6, 2024.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, BC / ACCESSWIRE / April 5, 2024 / Pulsar Helium Inc. (TSXV:PLSR)(OTCQB:PSRHF) ("Pulsar" or the "Company") announces that it has elected to accelerate the expiry date of the common share purchase warrants issued on August 15, 2023 (the "Warrants") under the warrant indenture between the Company and Computershare Trust Company of Canada (the "Warrant Agent") dated August 15, 2023 (the "Warrant Indenture").

President and Chief Executive Officer Thomas Abraham-James commented, "Early exercise of warrants from the Initial Public Offering strengthens our treasury at an exciting and important time for the Company. Proceeds from the warrant exercise will allow us to expand our 2024 work programs and accelerate our efforts to unlock the full value of the Topaz discovery."

Pursuant to the Warrant Indenture, if the volume weighted average trading price of the common shares of the Company on the TSX Venture Exchange equals or exceeds CAD$0.60 for a period of twenty-five (25) consecutive trading days (the "Acceleration Trigger"), the Company is entitled to accelerate the expiry date of the Warrants to a date which is thirty (30) days following the delivery of the acceleration notice via news release disseminated on SEDAR+ (the "Acceleration Notice") to the Registered Warrant holders and the Warrant Agent of the Warrants. This press release serves as delivery of the Acceleration Notice indicating the election of the Company to accelerate the expiry date of the Warrants to May 6, 2024 (the "Accelerated Expiry Date").

Any Warrants that have not been exercised by 4:30 p.m. (Vancouver time) on May 6, 2024, will automatically be cancelled.

Each Warrant entitles the holder to purchase one common share of the Company at a price of CAD$0.45 per warrant share. If all 7,425,633 remaining Warrants are exercised, gross proceeds to the Company will total CAD$3,341,535, however there can be no assurance that these remaining Warrants will be exercised prior to the Accelerated Expiry Date. As of April 3, 2024, 2,870,225 Warrants have been exercised for gross proceeds of CAD$1,291,601. In addition, as of April 3, 2024, 886,472 broker warrants issued to Haywood Securities Inc. (of a total 1,061,472) have been exercised at exercise prices of CAD$0.30 and CAD$0.45 for aggregate gross proceeds of CAD$314,692. The Company's current cash position is CAD$3.1 million.

Warrant holders who wish to exercise their Warrants should review the exercise requirements contained in the Acceleration Notice, the Warrant Indenture and, if applicable, the certificate evidencing their Warrants, and contact their legal and investment advisors before submitting the exercise form and any other applicable documentation to the Warrant Agent.

Any capitalized term in this press release that is not otherwise defined herein, shall have the meaning ascribed thereto in the Warrant Indenture.

About Pulsar Helium Inc.

Pulsar Helium Inc. is a publicly traded company listed on the TSX Venture Exchange with the ticker PLSR. Pulsar's portfolio consists of the Topaz helium project in Minnesota, USA and the Tunu helium project in Greenland. Pulsar is the first mover in both locations with primary helium occurrences not associated with the production of hydrocarbons identified at each. For further information visit https://pulsarhelium.com, follow us on X (formerly known as Twitter) https://twitter.com/pulsarhelium?lang=en and LinkedIn https://ca.linkedin.com/company/pulsar-helium-inc.

On behalf Pulsar Helium Inc.
"Thomas Abraham-James"
President, CEO and Director

Further Information:
Thomas Abraham-James President,
CEO and Director Pulsar Helium Inc.
connect@pulsarhelium.com
+ 1 (604) 599-0310

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Forward Looking Statements

This news release includes certain statements that may be deemed to be forward-looking statements or forward-looking information under applicable Canadian securities legislation (together, the "forward-looking statements") that may not be based on historical fact, including without limitation, statements containing the words "believe", "may", "plan", "will", "estimate", "continue", "anticipate", "intend", "expect", "potential" and similar expressions. Forward-looking statements are necessarily based on estimates and assumptions made by management of the Company in light of our experience and perception of historical trends, current conditions and expected future developments, as well as the factors we believe are appropriate. All statements in this news release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Forward-looking statements include but are not limited to statements relating to the Acceleration Trigger, Acceleration Notice, and the Accelerated Expiry Date. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Where applicable, we claim the protection of the safe harbour for forward-looking statements provided by the (United States) Private Securities Litigation Reform Act of 1995. Please see the public filings of the Company at www.sedarplus.ca for further information.

SOURCE: Pulsar Helium Inc.

View the original press release on accesswire.com

FAQ

What is the ticker symbol for Pulsar Helium Inc. mentioned in the press release?

The ticker symbol for Pulsar Helium Inc. mentioned in the press release is PSRHF.

What is the purpose of accelerating the expiry date of the common share purchase warrants?

The purpose of accelerating the expiry date of the common share purchase warrants is to strengthen the company's treasury and fund work programs.

What is the Accelerated Expiry Date for the warrants?

The Accelerated Expiry Date for the warrants is May 6, 2024.

What is the exercise price per warrant share for Pulsar Helium Inc.?

The exercise price per warrant share for Pulsar Helium Inc. is CAD$0.45.

How much gross proceeds can the company potentially raise if all remaining warrants are exercised?

If all remaining warrants are exercised, the company can potentially raise CAD$3,341,535.