Pulsar Helium Announces Execution of US$4 Million Project Finance Facility Line of Credit Note
Pulsar Helium Inc. (OTCQB:PSRHF) has announced that its Minnesota subsidiary, Keewaydin Resources, has secured a US$4 million project finance facility from University Bancorp to fund operational activities at the Topaz Helium project.
The facility, guaranteed by Pulsar and secured by Keewaydin's shares and assets, will mature on March 31, 2026, with a 12% annual interest rate on drawn amounts. A 2% utilization fee will be charged on draws but is reimbursable at maturity. The facility remains subject to TSX Venture Exchange approval.
Pulsar Helium Inc. (OTCQB:PSRHF) ha annunciato che la sua controllata del Minnesota, Keewaydin Resources, ha ottenuto un finanziamento di progetto di 4 milioni di dollari da University Bancorp per finanziare le attività operative del progetto Topaz Helium.
Il finanziamento, garantito da Pulsar e assicurato dalle azioni e dai beni di Keewaydin, scadrà il 31 marzo 2026, con un tasso di interesse annuale del 12% sugli importi utilizzati. Sarà addebitata una commissione di utilizzo del 2% sugli importi prelevati, ma sarà rimborsabile alla scadenza. Il finanziamento è soggetto all'approvazione della TSX Venture Exchange.
Pulsar Helium Inc. (OTCQB:PSRHF) ha anunciado que su filial en Minnesota, Keewaydin Resources, ha asegurado un financiamiento de proyecto de 4 millones de dólares de University Bancorp para financiar actividades operativas en el proyecto Topaz Helium.
El financiamiento, garantizado por Pulsar y asegurado por las acciones y activos de Keewaydin, vencerá el 31 de marzo de 2026, con una tasa de interés anual del 12% sobre los montos utilizados. Se cobrará una tarifa de utilización del 2% sobre los retiros, pero es reembolsable al vencimiento. El financiamiento está sujeto a la aprobación de la TSX Venture Exchange.
펄사 헬륨 주식회사 (OTCQB:PSRHF)는 미네소타 자회사인 Keewaydin Resources가 400만 달러 프로젝트 자금 조달 시설을 University Bancorp로부터 확보하여 Topaz Helium 프로젝트의 운영 활동을 자금 지원했다고 발표했습니다.
이 자금 조달은 펄사에 의해 보증되며 Keewaydin의 주식과 자산으로 담보됩니다. 2026년 3월 31일에 만료되며, 사용된 금액에 대해 연 12%의 이자율이 적용됩니다. 인출에 대해 2%의 이용 수수료가 부과되지만 만기 시 환급 가능합니다. 이 자금 조달은 TSX 벤처 거래소의 승인을 받아야 합니다.
Pulsar Helium Inc. (OTCQB:PSRHF) a annoncé que sa filiale du Minnesota, Keewaydin Resources, a sécurisé un financement de projet de 4 millions de dollars auprès de University Bancorp pour financer les activités opérationnelles du projet Topaz Helium.
Le financement, garanti par Pulsar et sécurisé par les actions et actifs de Keewaydin, arrivera à échéance le 31 mars 2026, avec un taux d'intérêt annuel de 12% sur les montants tirés. Des frais d'utilisation de 2% seront facturés sur les retraits, mais sont remboursables à l'échéance. Le financement est soumis à l'approbation de la TSX Venture Exchange.
Pulsar Helium Inc. (OTCQB:PSRHF) hat bekannt gegeben, dass ihre Tochtergesellschaft in Minnesota, Keewaydin Resources, eine Projektfinanzierung in Höhe von 4 Millionen US-Dollar von der University Bancorp gesichert hat, um die operativen Aktivitäten des Topaz Helium Projekts zu finanzieren.
Die Finanzierung, die von Pulsar garantiert und durch die Aktien und Vermögenswerte von Keewaydin gesichert ist, läuft am 31. März 2026 aus und hat einen jährlichen Zinssatz von 12% auf die abgerufenen Beträge. Eine Nutzungsgebühr von 2% wird auf Abhebungen erhoben, ist jedoch bei Fälligkeit rückerstattbar. Die Finanzierung unterliegt der Genehmigung der TSX Venture Exchange.
- Secured US$4 million project finance facility for operational activities
- Utilization fee of 2% is reimbursable at maturity
- High interest rate of 12% per annum on drawn amounts
- Facility requires pledge of subsidiary shares and first lien on all assets as security
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR TO BE TRANSMITTED, DISTRIBUTED TO, OR SENT BY, ANY NATIONAL OR RESIDENT OR CITIZEN OF ANY SUCH COUNTRIES OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION MAY CONTRAVENE LOCAL SECURITIES LAWS OR REGULATIONS.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE UK VERSION OF REGULATION (EU) NO. 596/2014 ON MARKET ABUSE, AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AND REGULATION (EU) NO. 596/2014 ON MARKET ABUSE.
UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION.
CASCAIS, PT / ACCESS Newswire / April 8, 2025 / Pulsar Helium Inc. (AIM:PLSR)(TSXV:PLSR)(OTCQB:PSRHF) ("Pulsar" or the "Company"), a leading helium project development company, is pleased to announce that further to Pulsar's news release of March 24, 2025, its wholly-owned Minnesota operating subsidiary, Keewaydin Resources, Inc. ("Keewaydin") has executed a project finance facility line of credit note with University Bancorp, Inc. ("University Bancorp") pursuant to which University Bancorp has extended a US
The Facility has been guaranteed by Pulsar and has been secured by a pledge of all of the shares of Keewaydin and a first lien on all assets of Keewaydin. The Facility will mature on March 31, 2026, and will bear interest on any amount drawn at
The Facility remains subject to receipt of approval from the TSX Venture Exchange.
On behalf Pulsar Helium Inc.
"Thomas Abraham-James"
President, CEO and Director
Further Information:
Pulsar Helium Inc.
connect@pulsarhelium.com
+ 1 (218) 203-5301 (USA/Canada)
+44 (0) 2033 55 9889 (United Kingdom)
https://pulsarhelium.com
https://ca.linkedin.com/company/pulsar-helium-inc.
Strand Hanson Limited
(Nominated & Financial Adviser, and Joint Broker)
Ritchie Balmer / Rob Patrick / Richard Johnson
+44 (0) 207 409 3494
OAK Securities*
(Joint Broker)
Jerry Keen (Corporate Broking) / Henry Clarke (Institutional Sales) / Dillon Anadkat (Corporate Advisory)
info@OAK-securities.com
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(Financial PR)
Megan Ray / Said Izagaren
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pulsarhelium@blytheray.com
*OAK Securities is the trading name of Merlin Partners LLP, a firm incorporated in the United Kingdom and regulated by the UK Financial Conduct Authority.
About Pulsar Helium Inc.
Pulsar Helium Inc. is a publicly traded company listed on the AIM market of the London Stock Exchange and the TSX Venture Exchange with the ticker PLSR, as well as on the OTCQB with the ticker PSRHF. Pulsar's portfolio consists of its flagship 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.
Neither the 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.
Forward-Looking Statements
This news release and the interview contains forward-looking information within the meaning of Canadian securities legislation (collectively, "forward-looking statements") that relate to the Company's current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as "will likely result", "are expected to", "expects", "will continue", "is anticipated", "anticipates", "believes", "estimated", "intends", "plans", "forecast", "projection", "strategy", "objective" and "outlook") are not historical facts and may be forward-looking statements. Forward-looking statements herein include, but are not limited to, statements relating to the TSX Venture Exchange approving the Facility. Forward-looking statements may involve estimates and are based upon assumptions made by management of the Company, including, but not limited to, the Company's capital cost estimates, management's expectations regarding the availability of capital to fund the Company's future capital and operating requirements and the ability to obtain all requisite regulatory approvals.
No reserves have been assigned in connection with the Company's property interests to date, given their early stage of development. The future value of the Company is therefore dependent on the success or otherwise of its activities, which are principally directed toward the future exploration, appraisal and development of its assets, and potential acquisition of property interests in the future. Un-risked Contingent and Prospective Helium Volumes have been defined at the Topaz Project. However, estimating helium volumes is subject to significant uncertainties associated with technical data and the interpretation of that data, future commodity prices, and development and operating costs. There can be no guarantee that the Company will successfully convert its helium volume to reserves and produce that estimated volume. Estimates may alter significantly or become more uncertain when new information becomes available due to for example, additional drilling or production tests over the life of field. As estimates change, development and production plans may also vary. Downward revision of helium volume estimates may adversely affect the Company's operational or financial performance.
Helium volume estimates are expressions of judgement based on knowledge, experience and industry practice. These estimates are imprecise and depend to some extent on interpretations, which may ultimately prove to be inaccurate and require adjustment or, even if valid when originally calculated, may alter significantly when new information or techniques become available. As further information becomes available through additional drilling and analysis the estimates are likely to change. Any adjustments to volume could affect the Company's exploration and development plans which may, in turn, affect the Company's performance. The process of estimating helium resources is complex and requires significant decisions and assumptions to be made in evaluating the reliability of available geological, geophysical, engineering, and economic date for each property. Different engineers may make different estimates of resources, cash flows, or other variables based on the same available data.
Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward- looking statements. Such risks and uncertainties include, but are not limited to, that Pulsar may be unsuccessful in completing the flow testing and pressure testing of Jetstream #1 and Jetstream #2, in drilling commercially productive wells; the uncertainty of resource estimation; operational risks in conducting exploration, including that flow testing, pressure testing and drill costs may be higher than estimates; commodity prices; health, safety and environmental factors; and other factors set forth above as well as under "Cautionary Note Regarding Forward Looking Statements and Market and Industry Data" and "Risk Factors" in the AIM Admission Document published on October 14, 2024 found on the Company's web site at https://pulsarhelium.com/investors/aim-rule-2C/default.aspx.
Forward-looking statements contained in this news release are as of the date of this news release, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for the Company to predict all of them or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. No assurance can be given that the forward-looking statements herein will prove to be correct and, accordingly, investors should not place undue reliance on forward-looking statements. Any forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.
SOURCE: Pulsar Helium Inc.
View the original press release on ACCESS Newswire
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