Pulsar Shares for Services

Rhea-AI Summary

Pulsar Helium (TSXV:PLSR, OTCQB:PSRHF) announced the issuance of 121,644 common shares to settle fees for its Executive Chair and Director for the period January to June 2024. The shares, priced at $0.8439 each based on a five-day volume-weighted average, replace cash payments. This issuance is pending TSX Venture Exchange approval and will have a four-month hold period from the issuance date. The fee arrangement was approved by disinterested shareholders on April 30, 2024, and further details can be found in the management information circular dated March 13, 2024, available on SEDAR+.

Positive

• Issuance of shares instead of cash payments helps conserve cash.
• The shares are priced based on a volume-weighted average, possibly reflecting a fair market value.

Negative

• Issuing new shares could dilute existing shareholders' equity.
• Shares are subject to a four-month hold period, limiting immediate liquidity for recipients.

VANCOUVER, BC / ACCESSWIRE / July 4, 2024 / Pulsar Helium Inc. (TSXV:PLSR)(OTCQB:PSRHF) ("Pulsar" or the "Company") announces that pursuant to the Executive Chair and Director Fee Arrangements, the Company will issue 121,644 common shares (the "Shares") in satisfaction of certain fees to be settled in Shares in lieu of cash for the period January to June 2024. The deemed issue price is based on the five (5) day volume weighted average price of $0.8439 per Share.

The issue of the Shares for services is subject to the approval of the TSX Venture Exchange. Shares issued will be subject to a four-month hold period from the date of issue.

The fees will be paid in accordance with the Executive Chair and Director Fee Arrangements, approved by the disinterested shareholders on April 30, 2024 (see management information circular of Pulsar dated as of March 13, 2024), a copy of which is available on SEDAR+ (www.sedarplus.ca) under Pulsar's issuer profile.

About Pulsar Helium Inc.

Pulsar Helium Inc. is a publicly traded company listed on the TSX Venture Exchange with the ticker PLSR and on the OTCQB with the ticker PSRHF. Pulsar's portfolio consists of its flagship Topaz helium project in Minnesota, USA, that has been drilled and flowed up to 14.5% helium, 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 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.

SOURCE: Pulsar Helium Inc.

View the original press release on accesswire.com

FAQ

What is the ticker symbol for Pulsar Helium?

The ticker symbol for Pulsar Helium is PSRHF on the OTCQB.

How many shares is Pulsar Helium issuing for service fees?

Pulsar Helium is issuing 121,644 common shares for service fees.

What is the issue price of the shares Pulsar Helium is issuing?

The issue price of the shares is $0.8439, based on a five-day volume-weighted average.

When were the fee arrangements for Pulsar Helium's share issuance approved?

The fee arrangements were approved by disinterested shareholders on April 30, 2024.

Is the issuance of Pulsar Helium's shares for services subject to any approval?

Yes, the issuance of the shares is subject to the approval of the TSX Venture Exchange.

Are there any restrictions on the newly issued shares by Pulsar Helium?

Yes, the shares will be subject to a four-month hold period from the date of issue.