Result of Fundraise
Pulsar Helium raised GBP 3.7m gross proceeds through accelerated bookbuild and subscription at GBP 0.23 per share.
- Gross proceeds raised GBP 3,720,100 (approximately CAD$6,954,727)
- Issue price per Common Share GBP 0.23 (approximately CAD$0.43)
- New Common Shares issued 16,174,338
- Total Common Shares in issue post-Admission 150,267,309
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NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
Unless otherwise defined herein, capitalised terms used in this announcement have the same meanings given to them in the Company's announcement dated August 20, 2025.
| NEWS RELEASE | AUGUST 21, 2025 | CASCAIS, PORTUGAL |
PULSAR HELIUM ANNOUNCES RESULT OF FUNDRAISE
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 its announcement on August 20, 2025 of the Offering, conducted in the United Kingdom by way of an accelerated bookbuild, the Company has raised gross proceeds of GBP 3,444,100 (approximately CAD$6,438,745), through the issue of 14,974,338 new Common Shares at the Issue Price of GBP 0.23 (approximately CAD$0.43) per Common Share. The Company has also received subscriptions in Canada for an additional 1,200,000 new Common Shares at the Issue Price, for additional gross proceeds of CAD$516,000 (the "Subscription").
Accordingly, pursuant to the Offering and Subscription, the Company has raised aggregate gross proceeds of GBP 3,720,100 (approximately CAD$6,954,727). The Company has completed its fundraising efforts pursuant to the Offering and will no longer be accepting subscriptions.
The Company's shareholder and principal lender, University Bancorp Inc., participated in the Offering to increase its interest to 4.99% of Pulsar's enlarged share capital.
The Company offered the Common Shares for sale pursuant to the LIFE Exemption; as such, the Common Shares to be issued to subscribers will not be subject to resale restrictions in accordance with Canadian securities laws. The Offering and Subscription remains subject to the satisfaction of certain conditions, including, but not limited to, the receipt of all necessary regulatory and other approvals, which is expected to occur on or about August 29, 2025.
OAK Securities (a trading name of Merlin Partners LLP) acted as the Company's exclusive bookrunner and placement agent in connection with the Offering to UK residents.
Admission to AIM and total voting rights
Application has been made to the London Stock Exchange plc for the admission to trading on AIM of the 16,174,338 new Common Shares, which is expected to occur and dealings commence at 8.00 a.m. on or around August 29, 2025. The new Common Shares, when issued and fully paid, will rank pari passu in all respects with the existing Common Shares.
On Admission, the total number of Common Shares in issue will be 150,267,309 with voting rights. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company's issued share capital pursuant to the Company's Articles.
Use of proceeds
Net proceeds received pursuant to the Offering will be used to advance Pulsar's flagship Topaz helium project in Minnesota, USA and for general working capital purposes. Specifically, the Company intends to sign a new contract for drilling of up to 10 new appraisal wells, to further define the size and shape of the helium-bearing reservoir. Other activities to be funded from the net proceeds of the Offering within the coming 12 months include a preliminary economic assessment and resource update.
Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 - Prospectus Exemptions ("NI 45-106"), the 16,174,338 new Common Shares issuable under the Offering and the Subscription were placed to purchasers resident in the UK and all of the provinces of Canada (except Quebec) pursuant to the listed issuer financing exemption under Part 5A.2 of NI 45-106 (the "LIFE Exemption"). As such, the securities to be issued to subscribers will not be subject to resale restrictions in accordance with applicable Canadian securities laws.
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
OAK Securities*
(Joint Broker)
Richard McGlashan / Mungo Sheehan
+44 7879 646641 / +44 7788 266844
richard.mcglashan@oak-securities.com / mungo.sheehan@oak-securities.com
Yellow Jersey
(Financial PR)
Charles Goodwin / Annabelle Wills
About Pulsar Helium Inc.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.