REG - Pulsar Helium Inc. - Project Finance Facility and Closing of Placement

Pulsar HeliumAnnouncement

24/03/2025 07:00

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RNS Number : 8338B  Pulsar Helium Inc.  24 March 2025

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NEWS RELEASE | MARCH 24, 2025 | CASCAIS, PORTUGAL

PULSAR HELIUM ANNOUNCES PROJECT FINANCE FACILITY AND CLOSING OF FINAL TRANCHE
OF PRIVATE PLACEMENT

Pulsar Helium Inc. (AIM: PLSR, TSXV: PLSR, OTCQB: PSRHF) ("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$4 million Project Finance facility to Pulsar's wholly owned Minnesota
operating subsidiary, Keewaydin Resources, Inc. ("Keewaydin") in the form of a
line of credit (the "Facility").  The Facility will be guaranteed by Pulsar
and 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 12% per annum. A utilization fee of 2%
will be charged on the balance of any draws on the Facility, however such fees
shall be reimbursable by Keewaydin at maturity. Keewaydin will draw funds from
the Facility as needed to fund operational activities on Pulsar's Topaz helium
project ("Topaz") in the near term.

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$0.38 per Offered
Share (equivalent to approximately C$0.55 / GBP0.30) for gross proceeds of
US$427,498. Together with the First Trance, the Company raised a total of
US$2,427,498 gross proceeds and issued a total of 6,388,154 new Common Shares
pursuant to the Private Placement.

In connection with the Final Tranche, the Company paid a cash fee of US$25,650
to its Co-Placing Agent, University Bank.

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 14.5%, well above the 0.3% widely accepted economic
threshold, and CO2 concentrations exceeding 70% - with the latter expected to
further contribute to the project economics. In addition, the Jetstream #2
appraisal well was completed on February 1, 2025 reaching a TD of 5,638 feet
(1,718 metres) The deepening of Jetstream #1 and completion of the drilling of
Jetstream #2 are pivotal steps in advancing Pulsar's strategy to address the
increasing global demand for helium as the Company moves another step closer
to production.

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 (mailto:connect@pulsarhelium.com)

+ 1 (218) 203-5301 (USA/Canada)

+44 (0) 2033 55 9889 (United Kingdom)

https://pulsarhelium.com (https://pulsarhelium.com)

https://ca.linkedin.com/company/pulsar-helium-inc
(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 (mailto:info@OAK-securities.com)

+44 203 973 3678

BlytheRay Ltd

(Financial PR)

Megan Ray / Said Izagaren

+44 207 138 3204
 

pulsarhelium@blytheray.com (mailto: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
(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.

 

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