Pulsar Helium Announces Definitive Agreement to Acquire Major Minnesota Land Position to the West of Topaz Project

Executive Summary

• Pulsar Helium Inc. signed a definitive agreement to acquire an 80% interest in Quantum Hydrogen Inc., a wholly‑owned subsidiary of Oscillate plc, for US $400,000 worth of newly issued Pulsar common shares, payable in five monthly tranches.
• The transaction includes an option for Pulsar to purchase the remaining 20% of Quantum within 18 months for an additional US $400,000 in Pulsar shares under the same pricing mechanism.
• The acquisition adds approximately 59,100 gross acres in Minnesota—about a 1,000% increase to Pulsar’s Minnesota footprint—and provides access to helium‑rich gas reservoirs analogous to those at the Topaz project.

Key Details

• Consideration: US $400,000 in Pulsar common shares issued in five equal monthly tranches of US $80,000 each; tranche share count based on a 30‑day VWAP of Pulsar’s TSXV price (subject to minimum TSXV price).
• Hold Period: Issued Pulsar shares are subject to a four‑month‑and‑one‑day lock‑up from the date of issuance.
• Option to Acquire Remaining 20%: Available within 18 months for an additional US $400,000 in Pulsar shares, priced on the same VWAP mechanism.
• Assets Acquired: Quantum holds exclusive mineral rights to non‑hydrocarbon gases over 59,100 gross acres in St. Louis and Itasca Counties, Minnesota.
• Strategic Rationale: The assets sit in a sedimentary basin overlying Archaean basement—same helium source rock type as Pulsar’s Topaz project—offering low‑cost, long‑term exploration potential for helium and hydrogen.
• Financial Impact of Assets: Quantum’s lease option is recorded on its balance sheet at an approximate value of US $296,000 (no audited financial statements yet).
• Governance Note: Neil Herbert, a Pulsar director who holds a minority stake in Oscillate, abstained from board deliberations and voting on the transaction.
• Regulatory Conditions: Completion contingent upon TSXV acceptance/approval of the transaction.

Notable Quotes

“This acquisition represents a logical, low‑risk expansion of our exploration portfolio, leveraging our proven technical expertise to unlock additional helium potential in Minnesota.” – Thomas Abraham‑James, President, CEO and Director, Pulsar Helium Inc.