Pulsar Helium to raise up to GBP 5 million via private placement, funding Minnesota Topaz project expansion and operational development.
Pulsar Helium Inc., a company focused on the development of helium projects, has announced plans to raise up to GBP 5 million through a private placement financing. This will be executed via an accelerated bookbuild (the “Offering”), managed exclusively by OAK Securities.
The Offering will involve the issuance of a minimum of 13,043,478 common shares at a price of GBP 0.23 per share (around CAD$0.43), raising gross proceeds of at least GBP 3 million (approximately CAD$5.61 million). At the upper range, the company could issue as many as 21,739,130 common shares, generating maximum gross proceeds of GBP 5 million (roughly CAD$9.35 million). The bookbuild process will begin immediately, with results expected to be announced at 07:00 (UK time) on August 21, 2025.
Net proceeds from this financing will primarily support the advancement of Pulsar’s Topaz helium project in Minnesota, USA, which is the company’s flagship development. Plans include signing a new contract for drilling up to 10 appraisal wells to better evaluate the size and structure of the helium-bearing reservoir. Additionally, funds will be allocated to conducting a preliminary economic assessment, updating resource estimates, and providing general working capital. The closing of the Offering, including admission of the new shares to trading on AIM, is expected on or around August 29, 2025, subject to regulatory approvals and customary conditions.
Notably, University Bancorp Inc., a significant shareholder with around 5% ownership and Pulsar’s principal lender, has confirmed its intention to participate in the Offering to maintain its equity stake.
The Offering will be available to investors in the UK and across Canadian provinces (excluding Quebec) under the Listed Issuer Financing Exemption (LIFE Exemption). Shares issued under this exemption will not carry resale restrictions in Canada. An Offering Document dated August 20, 2025, containing further details, has been made available on the company’s website and on www.sedarplus.ca. Importantly, this Offering does not constitute a public securities offering in the UK under the Financial Services and Markets Act 2000 (FSMA) and will not be reviewed by the UK Financial Conduct Authority.
The securities will not be registered under the U.S. Securities Act of 1933 or state securities laws, and thus cannot be offered or sold in the United States without proper registration or exemption.
OAK Securities, acting as exclusive bookrunner and placement agent, will receive an advisory fee of £20,000, a 6% commission on funds raised from UK investors it introduces, and broker warrants equal to 6% of these shares. The broker warrants will be exercisable for 12 months at the issue price of GBP 0.23. OAK Securities retains the right to terminate the placing agreement if market or financial conditions render the Offering impractical.
All new common shares, once issued and fully paid, will carry the same rights as existing shares, including entitlement to dividends and distributions declared thereafter.
