Execution of US$4M Project Finance Facility LOC
Pulsar's subsidiary Keewaydin executed US$4 million project finance facility with University Bancorp to fund Topaz Helium project.
- Project Finance Facility US$4 million
- Interest Rate 12% per annum
- Utilization Fee 2%
- Maturity Date March 31, 2026
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| NEWS RELEASE | APRIL 8, 2025 | CASCAIS, PORTUGAL |
PULSAR HELIUM ANNOUNCES EXECUTION OF US$4 MILLION PROJECT FINANCE FACILITY LINE OF CREDIT NOTE
Pulsar Helium Inc. (AIM: PLSR, TSXV: PLSR, OTCQB: PSRHF) ("Pulsar" or the "Company"), a leading helium project development company, is pleased to announce that further to Pulsar's news release of March 24, 2025, its wholly-owned Minnesota operating subsidiary, Keewaydin Resources, Inc. ("Keewaydin") has executed a project finance facility line of credit note with University Bancorp, Inc. ("University Bancorp") pursuant to which University Bancorp has extended a US$4 million project finance facility (the "Facility") to fund operational activities on Pulsar's Topaz Helium project in the near term.
The Facility has been guaranteed by Pulsar and has been secured by a pledge of all of the shares of Keewaydin and a first lien on all assets of Keewaydin. The Facility will mature on March 31, 2026, and will bear interest on any amount drawn at 12% per annum. A utilization fee of 2% will be charged on the balance of any draws on the Facility; however, such fees shall be reimbursable to Keewaydin at maturity.
The Facility remains subject to receipt of approval from the TSX Venture Exchange.
On behalf Pulsar Helium Inc.
"Thomas Abraham-James"
President, CEO and Director
Pulsar Helium Inc.
+ 1 (218) 203-5301 (USA/Canada)
+44 (0) 2033 55 9889 (United Kingdom)
Strand Hanson Limited
(Nominated & Financial Adviser, and Joint Broker)
Ritchie Balmer / Rob Patrick / Richard Johnson
OAK Securities*
(Joint Broker)
BlytheRay Ltd
(Financial PR)
Megan Ray / Said Izagaren
About Pulsar Helium Inc.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.