REG - Pulsar Helium Inc. - Pulsar Closes First Tranche Private Placement

Pulsar HeliumAnnouncement

10/01/2025 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250110:nRSJ8311Sa&default-theme=true

RNS Number : 8311S  Pulsar Helium Inc.  10 January 2025

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.

NEWS RELEASE | JANUARY 10, 2025 | CASCAIS, PORTUGAL

PULSAR HELIUM ANNOUNCES CLOSING OF FIRST 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 it has closed the first tranche (the "First Tranche") of the
brokered private placement previously announced on December 30th, 2024 (the
"Private Placement") through the issuance of 5,263,160 common shares ("Common
Shares") at a purchase price of US$0.38 per Common Share (equivalent to
approximately C$0.55/ GBP£0.30) for gross proceeds of US$2.0 million.

The First Tranche includes participation from high net worth and institutional
investors from the USA, including University Bancorp, Inc. that now holds
4.99% of the issued and outstanding Common Shares of the Company.

The closing of the First Tranche provides sufficient funds to proceed with the
step-out well, Jetstream #2. As announced on January 6th, 2025, the drill pad
for the step-out well is prepared, and the conductor rig is to be installed
this week. Drilling of Jetstream #2 is scheduled to commence immediately after
deepening of Jetstream #1 is complete. In addition, the Company will be
increasing the passive seismic (ambient noise tomography) footprint within the
Topaz project area.

In connection with the First Tranche, the Company paid a cash fee of
US$120,000 to the Company's Placing Agent, University Bank.

The securities issued in connection with the Private Placement will be subject
to a four-month and one day hold period. The Private Placement is subject to
certain conditions including, but not limited to, the receipt of all necessary
regulatory and other approvals including the approval of the TSX Venture
Exchange.

The Company expects to provide an update on the closing of the remainder of
the Private Placement within the next two weeks.

Exercise of Warrants

The Company notes that over the last two months, an aggregate of 747,434 share
purchase warrants (all of which were issued as part of its offering that
closed on January 17, 2024) were exercised and generated cash proceeds for the
Company of approximately C$270,000.

Admission to AIM and Total Voting Rights

Application is being made to the London Stock Exchange plc for the admission
of the 5,263,160 Common Shares issued pursuant to the First Tranche,  and the
747,434 Common Shares issued pursuant to the abovementioned warrant exercises,
to be admitted to trading on AIM, which is expected to occur and dealings
commence at 8.00 a.m. on or around January 15th, 2025. The new Common Shares
will rank pari passu with the Company's existing Common Shares.

On Admission, the total number of Common Shares in issue will be 132,567,977
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. The Jetstream #1 appraisal well
previously reached total depth (TD) of 2,200 feet (671 metres) on February
27th, 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. The deepening of Jetstream #1 is a pivotal step 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

Further Information:

Pulsar Helium Inc.

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

+ 1 (218) 203-5301

+44 (0) 2033 55 9889

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.

For further information visit:

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

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

LinkedIn https://ca.linkedin.com/company/pulsar-helium-inc
(https://ca.linkedin.com/company/pulsar-helium-inc)

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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCSFFSSSEISEFF