REG - Pulsar Helium Inc. - Proposed Acquisition Michigan Helium Assets

Pulsar HeliumAnnouncement

27/10/2025 07:00

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RNS Number : 9028E  Pulsar Helium Inc.  27 October 2025

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NEWS RELEASE | OCTOBER 27, 2025 | CASCAIS, PORTUGAL

PULSAR HELIUM ANNOUNCES PROPOSED ACQUISITION OF MICHIGAN HELIUM EXPLORATION
ASSETS

Pulsar Helium Inc. (AIM: PLSR, TSXV: PLSR, OTCQB: PSRHF) ("Pulsar" or the
"Company"), a leading helium project development company, is pleased to
announce that it has signed a non-binding term sheet to acquire 100% of Hybrid
Hydrogen Inc. ("Hybrid") in an all-share transaction (the "Proposed
Transaction"). Hybrid's primary asset is a lease agreement covering
approximately 6,742 acres of mineral rights in Michigan's Upper Peninsula
targeting non-hydrocarbon gases. This strategic acquisition marks Pulsar's
first entry into Michigan, a jurisdiction with a well-established gas
regulatory framework now being applied to helium exploration, and forms part
of the Company's broader initiative to expand its Upper Midwest footprint.

Highlights of the Proposed Transaction

•      Helium-Focused Land Package: Hybrid holds exclusive mineral
rights for non-hydrocarbon gases in Michigan's Upper Peninsula (~6,742 acres).
These rights provide Pulsar a foothold in a geologically prospective new
region for helium exploration.

•         All-Share, Cash-Preserving Deal: The Proposed Transaction
is structured as an all-share deal with a total value of US$80,000 payable in
Pulsar common shares. This preserves cash for ongoing work at the flagship
Topaz project in Minnesota while enabling strategic expansion.

•          Alignment with Growth Strategy: Expansion into Michigan
aligns with Pulsar's strategy of leveraging Topaz expertise into geologically
similar regions.

Thomas Abraham-James, President & CEO of Pulsar, commented:

"This Proposed Transaction provides an exciting opportunity to expand Pulsar's
portfolio into Michigan's Upper Peninsula, complementing our existing assets
and applying our Topaz project expertise to a new prospective region. The
potential expansion comes at a pivotal time for Pulsar as we build momentum at
Topaz and execute a clear growth vision. An all-share deal allows us to
broaden our exploration portfolio while preserving cash for advancing Topaz
towards production. In short, this Proposed Transaction aligns perfectly with
Pulsar's strategy of disciplined, high-impact growth in the helium sector."

Strategic Rationale for the Proposed Transaction

The Michigan mineral rights are situated in a geologic setting analogous to
Pulsar's Topaz helium project in Minnesota. The lease area lies within an
ancient sedimentary basin underlain by crystalline basement rocks, similar to
the helium-producing Archaean basement found at Topaz. Helium is generated
from the decay of uranium and thorium in these basement granites, migrating
upward into overlying porous sedimentary reservoirs where it can accumulate
beneath impermeable seals.

Through its work at Topaz, Pulsar has developed strong expertise in
identifying helium migration pathways, mapping subsurface structures, and
recognizing key seals and traps for helium accumulation. Leveraging this
experience, Pulsar sees a logical, lower-risk opportunity to identify new
helium resources in Michigan's Upper Peninsula. The Board believes that
expanding into geologically familiar regions such as Michigan is a prudent way
to grow the portfolio while maintaining technical focus, supported by
Michigan's established regulatory and infrastructure framework.

Terms of the Proposed Transaction

Pulsar has entered into a non-binding term sheet outlining the key terms of
the Proposed Transaction. Under the term sheet, Pulsar will acquire 100% of
the issued and outstanding shares of Hybrid. The consideration will be
satisfied entirely by the issuance of new Pulsar common shares, equivalent to
US$80,000 in value. The final number of Pulsar shares to be issued will be
determined prior to closing, based on a mutually agreed pricing mechanism
(such as a recent volume-weighted average price of Pulsar's shares). All
shares issued as consideration will be subject to a statutory hold period of
four months and one day, as required by the TSX Venture Exchange ("TSXV").

Completion of the Proposed Transaction is subject to customary conditions,
including negotiation of a definitive acquisition agreement, satisfactory due
diligence, and receipt of all required regulatory and shareholder approvals
(including TSXV acceptance). The term sheet provides for an exclusivity period
of 60 days for a fee of US$20,000 to finalize definitive documentation and
complete due diligence. It is emphasized that the term sheet is non-binding
(apart from customary provisions such as confidentiality, and exclusivity),
and there is no assurance that a definitive agreement will be reached or that
the acquisition will be completed on the terms described.

Hybrid is an early-stage exploration company with no current revenue and no
proven reserves or defined helium resources at this time. Accordingly, the
acquisition is not expected to have a material near-term impact. However,
successful exploration could add significant long-term upside, and Pulsar is
confident its technical and operational expertise will maximize this potential
over time.

The Company also notes that Neil Herbert, a director of Pulsar, is a minority
shareholder of Hybrid, and accordingly abstained from deliberations and voting
on this Proposed Transaction, in line with corporate governance best
practices.

On behalf Pulsar Helium Inc.

"Thomas Abraham-James"

President, CEO and Director

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)

Richard McGlashan / Mungo Sheehan

+44 7879 646641 / +44 7788 266844

richard.mcglashan@oak-securities.com / mungo.sheehan@oak-securities.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.

Yellow Jersey PR Limited

(Financial PR)

Charles Goodwin / Annabelle Wills

+44 777 5194 357

pulsarhelium@yellowjerseypr.com (mailto:pulsarhelium@yellowjerseypr.com)

About Pulsar Helium Inc.

Pulsar Helium Inc. is a publicly traded company quoted on the AIM market of
the London Stock Exchange and listed on 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 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
potential impact of the drill results, flow testing and pressure testing on
the next iteration of the resource estimate; 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 completing
in drilling commercially productive wells; the uncertainty of resource
estimation; operational risks in conducting exploration, including that drill
costs may be higher than estimates ; commodity prices; health, safety and
environmental factors; and other factors set forth above as well as risk
factors included in the Company's Annual Information Form dated July 31, 2025
for the year ended September 30, 2024 found under Company's profile on
www.sedarplus.ca (http://www.sedarplus.ca) .

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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