Pulsar Helium Announces Project Finance Facility and Closing of Final Tranche of Private Placement
Pulsar Helium Inc. (PSRHF) has secured a US$4 million Project Finance facility from University Bancorp for its Topaz helium project in Minnesota. The facility, extended to subsidiary Keewaydin Resources, will mature on March 31, 2026, with a 12% annual interest rate and 2% utilization fee on drawn amounts.
The company has also completed the final tranche of its previously announced private placement, raising US$427,498 through the issuance of 1,124,994 new common shares at US$0.38 per share. Combined with the first tranche, total gross proceeds reached US$2,427,498 with 6,388,154 new shares issued.
Contractors are scheduled to begin flow testing of the Jetstream #1 and #2 wells around March 29, 2025, with each well to be tested for approximately two weeks. The company's total issued common shares will increase to 133,692,971 following the admission of new shares to trading on AIM.
Pulsar Helium Inc. (PSRHF) ha ottenuto un finanziamento di 4 milioni di dollari statunitensi da University Bancorp per il suo progetto di elio Topaz in Minnesota. Il finanziamento, esteso alla sussidiaria Keewaydin Resources, scadrà il 31 marzo 2026, con un tasso d'interesse annuale del 12% e una commissione di utilizzo del 2% sugli importi prelevati.
L'azienda ha inoltre completato l'ultima tranche della sua precedente emissione privata, raccogliendo 427.498 dollari statunitensi attraverso l'emissione di 1.124.994 nuove azioni ordinarie a 0,38 dollari per azione. Combinato con la prima tranche, il totale dei proventi lordi ha raggiunto 2.427.498 dollari, con 6.388.154 nuove azioni emesse.
I contraenti sono programmati per iniziare il test di flusso dei pozzi Jetstream #1 e #2 intorno al 29 marzo 2025, con ogni pozzo che sarà testato per circa due settimane. Il totale delle azioni ordinarie emesse dall'azienda aumenterà a 133.692.971 a seguito dell'ammissione delle nuove azioni alla negoziazione su AIM.
Pulsar Helium Inc. (PSRHF) ha asegurado una línea de financiamiento de 4 millones de dólares estadounidenses de University Bancorp para su proyecto de helio Topaz en Minnesota. La línea, extendida a la subsidiaria Keewaydin Resources, vencerá el 31 de marzo de 2026, con una tasa de interés anual del 12% y una tarifa de utilización del 2% sobre los montos retirados.
La empresa también ha completado la última parte de su colocación privada previamente anunciada, recaudando 427,498 dólares estadounidenses mediante la emisión de 1,124,994 nuevas acciones comunes a 0.38 dólares por acción. Combinado con la primera parte, los ingresos brutos totales alcanzaron 2,427,498 dólares, con 6,388,154 nuevas acciones emitidas.
Los contratistas están programados para comenzar las pruebas de flujo de los pozos Jetstream #1 y #2 alrededor del 29 de marzo de 2025, con cada pozo siendo probado durante aproximadamente dos semanas. El total de acciones comunes emitidas por la empresa aumentará a 133,692,971 tras la admisión de las nuevas acciones a la negociación en AIM.
펄사 헬륨 주식회사 (PSRHF)는 미네소타의 토파즈 헬륨 프로젝트를 위해 유니버시티 뱅코프(University Bancorp)로부터 400만 달러의 프로젝트 금융 시설을 확보했습니다. 이 시설은 자회사인 키웨이딘 리소스(Keewaydin Resources)에 연장되며, 2026년 3월 31일에 만료되고 연 12%의 이자율과 인출 금액에 대해 2%의 이용 수수료가 부과됩니다.
회사는 또한 이전에 발표된 사모 배치의 마지막 트랜치를 완료하여 1,124,994주의 새로운 보통주를 주당 0.38달러에 발행하여 427,498달러를 모금했습니다. 첫 번째 트랜치와 결합하여 총 총 수익은 2,427,498달러에 도달했으며, 6,388,154주의 새로운 주식이 발행되었습니다.
계약자는 2025년 3월 29일경에 제트스트림 #1 및 #2 우물의 유량 테스트를 시작할 예정이며, 각 우물은 약 2주 동안 테스트될 것입니다. 회사의 총 발행 보통주는 AIM에서의 새로운 주식 거래에 따라 133,692,971주로 증가할 것입니다.
Pulsar Helium Inc. (PSRHF) a obtenu un financement de 4 millions de dollars américains de la part de University Bancorp pour son projet d'hélium Topaz au Minnesota. Ce financement, accordé à la filiale Keewaydin Resources, arrivera à échéance le 31 mars 2026, avec un taux d'intérêt annuel de 12 % et des frais d'utilisation de 2 % sur les montants tirés.
L'entreprise a également terminé la dernière tranche de son placement privé précédemment annoncé, levant 427 498 dollars américains par l'émission de 1 124 994 nouvelles actions ordinaires à 0,38 dollar par action. Combiné avec la première tranche, le total des produits bruts a atteint 2 427 498 dollars, avec 6 388 154 nouvelles actions émises.
Les entrepreneurs devraient commencer les tests de débit des puits Jetstream #1 et #2 aux alentours du 29 mars 2025, chaque puits étant testé pendant environ deux semaines. Le total des actions ordinaires émises par l'entreprise augmentera à 133 692 971 suite à l'admission des nouvelles actions à la négociation sur AIM.
Pulsar Helium Inc. (PSRHF) hat eine Finanzierung in Höhe von 4 Millionen US-Dollar von der University Bancorp für sein Heliumprojekt Topaz in Minnesota gesichert. Die Finanzierung, die an die Tochtergesellschaft Keewaydin Resources gewährt wurde, läuft am 31. März 2026 aus, mit einem jährlichen Zinssatz von 12% und einer Nutzungsgebühr von 2% auf abgerufene Beträge.
Das Unternehmen hat außerdem die letzte Tranche seiner zuvor angekündigten Privatplatzierung abgeschlossen und 427.498 US-Dollar durch die Ausgabe von 1.124.994 neuen Stammaktien zu je 0,38 US-Dollar pro Aktie gesammelt. Zusammen mit der ersten Tranche beliefen sich die gesamten Bruttoeinnahmen auf 2.427.498 US-Dollar, mit insgesamt 6.388.154 neuen ausgegebenen Aktien.
Die Auftragnehmer sollen ab dem 29. März 2025 mit den Fließtests der Bohrlöcher Jetstream #1 und #2 beginnen, wobei jedes Bohrloch etwa zwei Wochen lang getestet wird. Die insgesamt ausgegebenen Stammaktien des Unternehmens werden sich nach der Zulassung der neuen Aktien zum Handel an AIM auf 133.692.971 erhöhen.
- Secured US$4M project finance facility, avoiding additional equity dilution
- Successfully completed private placement raising US$2.43M total
- Positive initial drilling results at Topaz project
- Imminent flow testing of two Jetstream wells
- High interest rate of 12% on project finance facility
- Additional 2% utilization fee on drawn amounts
- Share dilution from private placement completion
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 THE UNITED STATES, 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.
CASCAIS, PORTUGAL / ACCESS Newswire / March 24, 2025 / Pulsar Helium Inc. (AIM:PLSR)(TSXV:PLSR)(OTCQB:PSRHF) ("Pulsar" or the "Company"), ("Pulsar" or the "Company"), a leading helium project development company, is pleased to announce that University Bancorp, Inc. has signed a term sheet to extend a US
The Facility is subject to the execution of definitive documentation and certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the TSX Venture Exchange, if required.
With positive drilling results to date at Topaz and imminent flow testing of the two Jetstream wells, the Company has re-evaluated the need to raise additional equity capital at this point. Contractors have confirmed their availability to mobilize to Topaz and commence flow testing of the Jetstream #1 and #2 wells on or around March 29, 2025, with each well to be flowed for a period of approximately two weeks. At the same time, uncontaminated gas samples will also be collected from each well and sent for laboratory analysis.
In addition, on March 21, 2025, the Company closed the second and final tranche (the "Final Tranche") of the brokered private placement (the "Private Placement"), previously announced on December 30, 2024, January 10, 2025, and February 19, 2025 through the issuance of 1,124,994 new common shares ("Common Shares") (the "Offered Shares"), at a purchase price of US
In connection with the Final Tranche, the Company paid a cash fee of US
The Offered Shares issued in connection with the Final Tranche are subject to a four-month and one day hold period.
Thomas Abraham-James, President & CEO of Pulsar Helium, commented:
"We welcome the Project Finance transaction for our Topaz helium project in Minnesota. This provides the working capital required to advance the project and avoids additional shareholder dilution. Initial drilling results at Topaz have been positive, and the upcoming flow tests on both Jetstream wells mark an exciting milestone as we move closer to our goal of helium production."
Admission to AIM and Total Voting Rights
Application is being made to the London Stock Exchange plc for the admission of the 1,124,994 Offered Shares issued pursuant to the Final Tranche to be admitted to trading on AIM, which is expected to occur and dealings commence at 8.00 a.m. on or around March 27, 2025. The Offered Shares will rank pari passu with the Company's existing Common Shares.
On Admission, the total number of Common Shares in issue will be 133,692,971 with voting rights. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company's issued share capital pursuant to the Company's Articles.
About the Topaz Project
The Topaz project is located in northern Minnesota, USA where Pulsar is the first mover and holds exclusive leases. Drilling at the Jetstream #1 appraisal well has reached total depth (TD) of 5,100 feet (1,555 metres) on January 11, 2025, successfully penetrating the entire interpreted helium-bearing reservoir and beyond. The Jetstream #1 appraisal well previously reached TD of 2,200 feet (671 metres) on February 27, 2024, identifying top-tier helium concentrations of up to
Caution to US Investors
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.
On behalf Pulsar Helium Inc.
"Thomas Abraham-James"
President, CEO and Director
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (EU) 596 / 2014 WHICH FORMS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED ("UK MAR").
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
+44 203 973 3678
BlytheRay Ltd
(Financial PR)
Megan Ray / Said Izagaren
+44 207 138 3204
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 completion of the remainder of the Private Placement, the potential impact of deepening Jetstream #1 and the potential impact of such deepening on the next iteration of the resource estimate; the expected timing to commence drilling of Jetstream #2; the potential of CO2 as a valuable by-product of the Company's future helium production; and the potential for future wells. 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 deepening the Jetstream #1, in drilling commercially productive wells; the uncertainty of resource estimation; operational risks in conducting exploration, including that drill costs may be higher than estimates and the potential for delays in the commencement of drilling; 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-26/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
FAQ
What are the terms of PSRHF's new Project Finance facility for the Topaz project?
How much did Pulsar Helium (PSRHF) raise in its latest private placement?
When will PSRHF begin flow testing the Jetstream wells at Topaz?
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