Work programs to be expanded

Pulsar Helium Inc. (TSXV:PLSR ; OTCQB:PSRHF; FRA: Y3K) announces that the company has received a total of CAD 5,098,233 in additional liquidity through the exercise of warrants over the past few weeks. 100% of the 10,295,858 warrants to purchase common shares subject to the Warrant Acceleration Notice announced on April 5, 2024, have been exercised.

These warrants provided the company with gross proceeds of CAD 4,633,136. These warrants were issued by the company at the time of the IPO on August 15, 2023, at an exercise price of CAD 0.45. In addition, 1,220,708 broker warrants were exercised at exercise prices of CAD 0.30 and CAD 0.45 for total gross proceeds of CAD 465,097.

President and Chief Executive Officer Thomas Abraham-James commented: “The early exercise of these warrants strengthens our financial position at an exciting and important time for the company. The proceeds from the exercise of the warrants will enable us to expand our work programs for 2024 and accelerate our efforts to unlock the full value of the Topaz discovery.”

Conclusion: Over the past four weeks since the announcement of the accelerated exercise of the warrants, it has been fascinating to observe that Pulsar Helium’s stock price has remained stable at CAD 1.20. After all, it can be assumed that a good portion of the warrants were financed through the sale of shares. On May 18, the shares from the last private placement will become free trading. In that placement, 18.5 million shares were issued at CAD 0.23 and an equal number of warrants at an exercise price of CAD 0.36. These warrants are deep in the money and represent an additional CAD 6.6 million in fresh liquidity if exercised. It should be noted that the major investor ABCapital owns 15.5 million shares and warrants from the placement. Only three million shares from the placement were distributed to other hands at that time.