Pulsar Helium expects to go public on the London AIM exchange on Friday, October 18, 2024

Helium company Pulsar Helium Inc. (AIM: PLSR; TSXV: PLSR; OTCQB: PSRHF; FRA: Y3K) is expected to start trading on the London AIM exchange for the first time from 8 a.m. London time on Friday, October 18, 2024 under the ticker AIM: PLSR. The AIM listing follows the successful completion of a heavily oversubscribed placement at a subscription price of £0.25, which corresponds to C$0.45. Including a pre-IPO cornerstone investment of £1.125 million from London-based broker OAK Securities, the total gross proceeds before expenses amount to £5 million (C$9 million). A total of 21,440,000 new common shares will be issued through the fundraising shares, as well as the earlier cornerstone investment and shares issued as fees for the transaction. The company will continue to be listed on the TSX Venture Exchange (“TSX-V”) in Canada and on the OTCQB Venture Market in the United States.

At the Issue Price and following the issuance of the New Common Shares, the Company’s market capitalization upon admission would be approximately £31.6 million (C$56.5 million). The Issue Price represents a discount of approximately 14.1% to the closing price of the Company’s shares (on the TSX-V) prior to the announcement of the Financing.

Thomas Abraham-James, President & CEO of Pulsar, commented: “We are extremely pleased with the outcome of our financing and our admission to AIM. The fundraising itself was oversubscribed by more than 50%, reflecting the strong support and confidence of new and existing shareholders. As the funds raised are sufficient for our short-term work programs, we have decided not to accept the additional funds offered as we did not want to risk further dilution ahead of what is expected to be an exciting time for the Company.”

Upon admission, Pulsar Helium will issue an additional 1,612,500 broker warrants to OAK Securities in connection with the financing and cornerstone investment. Each broker warrant will entitle the holder to purchase one common share for a period of five years at a price of 25 pence per broker warrant share . In addition, 500,000 share purchase warrants (“Nomad Warrants”) will be issued to Strand Hanson Limited in connection with the Offering, with each Nomad Warrant entitling the holder to purchase one Common Share for a period of two years at a price of 25 cents per Nomad Warrant Share. Strand Hanson Limited is acting as the Company’s designated and financial advisor in connection with the Offering and as co-broker for the Offering. OAK Securities has also been granted a cash commission equal to 10% of the gross proceeds from the Cornerstone Investment and will receive 7.5% of the gross proceeds from the Fundraisings.

The net proceeds of the financing, together with the Company’s existing funds, including the Cornerstone Investment, are to be used primarily to advance the development of the Company’s Topaz helium project in Minnesota, USA. Specifically, the Company plans to deepen the Jetstream #1 well, conduct additional seismic studies and complete a preliminary economic assessment.