Pulsar Helium to receive up to $12.5M (U.S.) financing

Mr. Thomas Abraham-James reports PULSAR HELIUM ANNOUNCES RECEIPT OF NON-BINDING US$12.5 MILLION PROJECT FINANCING EXPRESSION OF INTEREST FROM UNIVERSITY BANK, MICHIGAN University Bank, a Michigan-based banking company wholly owned by University Bancorp Inc., has provided a non-binding expression of interest to provide Pulsar Helium Inc. with project financing of up to $12.5-million (U.S.) for the construction of a helium processing plant at the company's wholly owned Topaz project in Minnesota, United States. University Bancorp currently holds approximately 4.9 per cent of Pulsar's issued share capital. The company also announces that University Bancorp, Inc. has extended the maturity date of the existing $4-million (U.S.) project financing facility line of credit provided to Pulsar's subsidiary Keewaydin Resources Inc. from March 31, 2026, to Nov. 30, 2026, in consideration for a 0.75-per-cent extension fee on the current drawn amount of $2.5-million (U.S.) ($18,750 (U.S.)), with the fee payable at maturity. Thomas Abraham-James, president and chief executive officer of Pulsar, commented: "We are extremely grateful for University Bank's continued support and confidence in Pulsar. Their financing interest of lending Pulsar up to $12.5-million (U.S.) for the construction of a helium processing plant marks another important step towards delivering the Topaz project into production. This potential funding, alongside the extension of our existing line of credit, strengthens our ability to move forward decisively with construction planning and execution." The closing of the proposed financing facility, which is subject to negotiation of definitive documentation and the satisfaction of specific conditions precedent (set out below), would bear interest at 12 per cent per annum, with interest-only payments for the first 24 months, followed by a full amortization over five years, with final maturity after seven years. A 2-per-cent fee would be earned at closing and payable at the end of the interest-only period. Conditions to be satisfied prior to closing include: Issuance of a final report by an independent resource estimator confirming sufficient proven helium reserves at the Topaz project to support a the construction of a helium plant; Receipt of all permits and legal title required for production at the Topaz project; Availability of sufficient working capital to finance the remaining plant construction costs and operations at the Topaz project through completion and for six months thereafter; Approval by the board of directors of University Bank. The proposed financing is non-binding and remains subject to negotiation of definitive agreements, satisfaction of all conditions precedent and customary regulatory approvals. About Pulsar Helium Inc. Pulsar Helium is a publicly traded company listed on the AIM (Alternative Investment 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, United States, 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. We seek Safe Harbor.