Pulsar Helium arranges placement for up to $9.35M

Executive Summary

• Pulsar Helium Inc. announced a private placement financing via an accelerated book build to raise between £3 million and £5 million (approximately $5.61 million to $9.35 million).
• The offering involves the issuance of common shares at 23 pence per share, with net proceeds designated for drilling up to 10 new appraisal wells at the Topaz helium project in Minnesota, a preliminary economic assessment, and general working capital.
• University Bancorp Inc., a ~5% shareholder and principal lender, intends to participate to maintain its equity interest, and the closing is anticipated around August 29, 2025.

Key Details

• Financing Structure: Private placement via accelerated book build managed by OAK Securities as exclusive bookrunner.
• Share Price: 23 pence per common share (approximately 43 cents).
• Quantity: Minimum of 13,043,478 shares; Maximum of 21,739,130 shares.
• Gross Proceeds: Minimum £3,000,000 (~$5.61 million); Maximum £5,000,000 (~$9.35 million).
• Use of Proceeds:
  • Sign a new contract for drilling of up to 10 new appraisal wells at the Topaz helium project to define the helium-bearing reservoir.
  • Conduct a preliminary economic assessment and resource update.
  • General working capital purposes.
• Closing Timeline: Result of the book build expected August 21, 2025 (7 a.m. UK time); anticipated closing on or about August 29, 2025.
• Regulatory/Exemptions: Offered pursuant to the listed issuer financing exemption under National Instrument 45-106 (Part 5A.2) for residents of the UK and all Canadian provinces except Quebec. Securities are not subject to resale restrictions under Canadian securities laws.
• Shareholder Participation: University Bancorp Inc. (approx. 5% shareholder and principal lender) intends to participate to maintain its equity interest.
• Broker Fees and Terms:
  • Advisory fee: £20,000 payable in cash.
  • Cash fee: 6% of gross proceeds raised from UK resident investors introduced by OAK Securities.
  • Warrants: Common share purchase warrants equal to 6.0% of the number of common shares acquired by investors introduced by OAK Securities.
  • Warrant Terms: Exercisable for 12 months from issue at a price of 23 pence (~43 cents).
• Listing: Shares will be admitted to trading on the Alternative Investment Market (AIM) of the London Stock Exchange and listed on the TSX Venture Exchange.
• Conditions Precedent: Subject to receipt of all necessary regulatory approvals, including conditional approval from the TSX Venture Exchange.

Notable Quotes

• None explicitly quoted in the text, though the company states the intention to use proceeds to "further define the size and shape of the helium-bearing reservoir."