Pulsar Helium (PLSR) has entered into an agreement with Hovde Group, under the terms of which Hovde has been appointed as a co-placement agent with University Bank for the second tranche of the previously-announced private placement to raise up to US$5.5 million.
Details of the placing were first announced at the end of December 2024.
Net proceeds raised from the second tranche of the placement will increase Pulsar’s working capital and this will enable it to accelerate its strategic plan for the exploration and development at the Topaz project in Minnesota, and to reach a final investment decision (FID) for the construction of a combined helium and CO2 production facility.
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.
View from Vox
Having successfully drilled two wells at Topaz, it’s good to see Pulsar getting its financial ducks in a row to allow it to move on to next steps. Additional work on the ground is ongoing, and it won’t be too long before a resource is announced.