Pulsar closes 7.35-million-pound-sterling financing

Executive Summary

• Pulsar Helium Inc. has conditionally closed a private placement of 9,191,175 common shares at 80 pence per share, raising gross proceeds of £7,352,940 (approx. $10.0M USD / $13.7M CAD).
• The closing is subject to final approval from the TSX Venture Exchange.
• Net proceeds will fund exploration and development at the Topaz (Minnesota) and Falcon (Michigan) projects, including well testing, seismic surveys, resource updates, prefeasibility studies, and equipment deposits.

Key Details

• Transaction Structure: Placing of 9,191,175 common shares.
• Price: 80 pence per share (approx. $1.47 CAD).
• Gross Proceeds: £7,352,940 (approx. $10.0 million USD or $13.7 million CAD).
• Use of Proceeds:
  • Topaz Project (Minnesota): Extended well testing, reservoir evaluation, additional seismic survey, consolidation/expansion of mineral and leasehold interests, update of independent resource estimate, completion of prefeasibility study for integrated helium and CO2 production, and placing deposits on long-lead processing equipment.
  • Falcon Project (Michigan): Support for geophysical, geochemical, and related exploration activities.
  • General: Working capital and corporate purposes.
• Advisory Fees:
  • OAK Securities (Merlin Partners LLP) received an advisory fee of £20,000 (approx. $37,000 CAD).
  • OAK Securities received a cash fee of £441,176 (approx. $812,000 CAD).
• Warrant Terms: OAK Securities received 551,470 non-transferable common share purchase warrants.
  • Exercisability: Exercisable for 12 months from the date of issue.
  • Exercise Price: 80 pence (approx. $1.47 CAD).
• Regulatory Status: Closing is conditional upon receipt of final approval from the TSX Venture Exchange. The placing was conducted under the company's Canadian base shelf prospectus dated Feb. 11, 2026, supplemented by a prospectus supplement dated Feb. 19, 2026.

Notable Quotes

• No direct quotes from management were included in the provided text.