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CASCAIS, PORTUGAL - Pulsar Helium (TSXV:PLSR) Inc. (AIM:PLSR, TSXV: PLSR, OTCQB: PSRHF) has raised approximately £3.7 million (CAD$6.95 million) through an offering of common shares, according to a press release issued by the company on Thursday.
The helium project development company completed the fundraising through an accelerated bookbuild in the United Kingdom (TADAWUL:4280), generating gross proceeds of £3.44 million by issuing 14,974,338 new common shares at £0.23 per share. The company secured an additional CAD$516,000 through subscriptions in Canada for 1,200,000 shares at the same price.
University Bancorp Inc., the company’s shareholder and principal lender, participated in the offering, increasing its stake to 4.99% of Pulsar’s enlarged share capital.
OAK Securities, the trading name of Merlin Partners LLP, acted as Pulsar’s exclusive bookrunner and placement agent for the UK portion of the offering.
The new shares are expected to be admitted to trading on AIM around August 29, 2025, bringing the total number of common shares in issue to 150,267,309.
Pulsar intends to use the proceeds to advance its Topaz helium project in Minnesota, USA, including signing a contract for drilling up to 10 new appraisal wells to further define the helium-bearing reservoir. The company also plans to fund a preliminary economic assessment and resource update within the next 12 months.
The offering was conducted pursuant to the listed issuer financing exemption under Canadian securities laws, meaning the issued shares will not be subject to resale restrictions under Canadian securities laws. The transaction remains subject to regulatory approvals.
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