REG – Pulsar Helium Inc. – Proposed Fundraise to Accelerate Production

Pulsar Helium Targets $20 Million Raise to Fast-Track Minnesota Production

Pulsar Helium disclosed plans to raise approximately $20 million gross through a placing and subscription, alongside a separate retail offer capped at $1.5 million, according to a 7 July regulatory filing. The dual-track fundraise is intended to accelerate the company’s production pathway at its Minnesota helium project.

The main institutional portion targets $20 million equivalent to roughly £14.9 million or CAD $28.4 million. The retail limb adds another $1.5 million. Combined proceeds will support field development and move the upstream asset toward commercial output.

Shares in the fundraise are priced at 75 pence each, equivalent to approximately CAD $1.43. The structure comprises a non-pre-emptive placing to institutional investors, a direct subscription by a named subscriber under a 7 July agreement, and a retail offer through Retail Book Limited. All three tranches are at the same fixed issue price.

Pulsar trades on AIM under the ticker PLSR, on the TSX Venture Exchange as PLSR, and on the OTCQB as PSRHF. The company is incorporated in Canada and has exploration interests centred on the Topaz helium project in Minnesota, where drilling returned high-grade helium concentrations in previous campaigns.

The announcement classified the fundraise details as inside information under the UK Market Abuse Regulation. Pulsar said that upon publication of the notice, such information is now in the public domain.

The filing noted that Stephen Ranzini, a director of Pulsar, is associated with University Bancorp Inc., though no detail on that entity’s participation in the fundraise was provided in the excerpt released. No breakdown was given of how much the placing and subscription components would contribute individually to the $20 million target, nor of the number of new common shares the company expects to issue.

Pulsar did not disclose a timetable for closing the fundraise or when the new shares would be admitted to trading. The company also did not specify which elements of the production pathway the capital will support, though the wording suggests near-term field work rather than long-lead tolling or liquefaction infrastructure.

Minnesota’s helium sector has drawn interest from explorers after years of depletion in the US federal Bureau of Land Management reserve network. High-purity grades discovered at shallow depth have lowered cost expectations for some projects, though commercial offtake agreements in the region remain sparse.

Pulsar issued the notice from Cascais, Portugal, where the company maintains an administrative presence. The regulatory statement carried extensive geographic restrictions, barring distribution in the United States, Australia, Japan and South Africa, and cautioned that the announcement does not constitute an offer to sell or subscribe for securities.