Pulsar Helium Announces Appointment of Hovde Group as Co-placement Agent for Second Tranche of Private Placement
Rhea-AI Summary
Pulsar Helium Inc. (AIM:PLSR, TSXV:PLSR, OTCQB:PSRHF) has appointed Hovde Group, as a co-placement agent alongside University Bank for the second tranche of its private placement, aiming to raise up to US$5.5 million.
The net proceeds will be used to increase working capital, accelerate the strategic plan for exploration and development at the Topaz project in Minnesota, and reach a final investment decision (FID) for constructing a combined helium and CO2 production facility.
The private placement requires regulatory approvals, including TSX Venture Exchange approval. Securities issued will have a four-month hold period under Canadian securities law.
Positive
- Potential raise of up to US$5.5 million strengthening working capital
- Addition of Hovde Group as co-placement agent potentially expanding investor reach
- Funds allocated to accelerate Topaz project development and reach FID
Negative
- Four-month hold period restricts immediate trading of new securities
- Pending regulatory approvals create execution uncertainty
- Potential dilution for existing shareholders through new share issuance
News Market Reaction – PSRHF
On the day this news was published, PSRHF gained 2.10%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR TO BE TRANSMITTED, DISTRIBUTED TO, OR SENT BY, ANY NATIONAL OR RESIDENT OR CITIZEN OF ANY SUCH COUNTRIES OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION MAY CONTRAVENE LOCAL SECURITIES LAWS OR REGULATIONS.
CASCAIS, PORTUGAL / ACCESS Newswire / February 6, 2025 / 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 news releases dated December 30, 2024 and January 10, 2025 in respect of its brokered private placement (the "Private Placement"), the Company has entered into an agreement (the "Joinder Agreement") with Hovde Group, LLC ("Hovde Group") pursuant to which Hovde Group has been appointed as a co-placement agent with University Bank for the second tranche of the Private Placement to raise up to US
Net proceeds raised from the second tranche of the Private Placement will increase the Company's working capital and this will enable the Company to accelerate its strategic plan for the exploration and development at Pulsar's Topaz project in Minnesota and to reach a final investment decision (FID) for the construction of a combined helium and CO2 production facility.
The Private Placement is subject to receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. The securities being issued pursuant to the Private Placement will be subject to a four month hold period in accordance with applicable Canadian securities law.
Caution to US Investors
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
On behalf Pulsar Helium Inc.
"Thomas Abraham-James"
President, CEO and Director
Further Information:
Pulsar Helium Inc.
connect@pulsarhelium.com
+ 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
+44 (0) 207 409 3494
OAK Securities*
(Joint Broker)
Jerry Keen (Corporate Broking) / Henry Clarke (Institutional Sales) / Dillon Anadkat (Corporate Advisory)
info@OAK-securities.com
+44 203 973 3678
BlytheRay Ltd
(Financial PR)
Megan Ray / Said Izagaren
+44 207 138 3204
pulsarhelium@blytheray.com
*OAK Securities is the trading name of Merlin Partners LLP, a firm incorporated in the United Kingdom and regulated by the UK Financial Conduct Authority.
About Pulsar Helium Inc.
Pulsar Helium Inc. is a publicly traded company listed on the AIM market of the London Stock Exchange and the TSX Venture Exchange with the ticker PLSR, as well as on the OTCQB with the ticker PSRHF. Pulsar's portfolio consists of its flagship Topaz helium project in Minnesota, USA, and the Tunu helium project in Greenland. Pulsar is the first mover in both locations with primary helium occurrences not associated with the production of hydrocarbons identified at each.
For further information visit:
Website https://pulsarhelium.com
LinkedIn https://ca.linkedin.com/company/pulsar-helium-inc.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Pulsar Helium Inc.
View the original press release on ACCESS Newswire
FAQ
How much is Pulsar Helium (PSRHF) planning to raise in its second tranche private placement?
What will the proceeds from PSRHF's private placement be used for?
Who are the placement agents for PSRHF's second tranche private placement?
What is the hold period for securities issued in PSRHF's private placement?
