NEWS RELEASE | AUGUST 15, 2023 | VANCOUVER, BC
PULSAR HELIUM COMPLETES IPO AND LISTING ON THE TSX VENTURE EXCHANGE
Pulsar Helium Inc (TSXV:PLSR), ("Pulsar Helium" or the "Company") is pleased to announce that it has completed its initial public offering ("IPO") in which it distributed 10,295,858 units ("Units") of the Company at a price of $0.30 per Unit (the "Offering Price") for aggregate gross proceeds of $3,088,757.40 pursuant to the Company's final prospectus dated July 31, 2023. Each Unit consists of one common share and one transferable common share purchase warrant of the Company, with warrants exercisable at a price of $0.45 for 24 months, subject to acceleration under certain conditions.
The Company's common shares were listed on the TSX Venture Exchange ("TSXV") at market open on August 15, 2023 and immediately halted as a procedural requirement of the TSXV. Trading of the common shares is expected to resume trading on or about Thursday, August 17, 2023 under the trading symbol "PLSR".
"The listing of Pulsar Helium onto the TSXV is a significant milestone", stated Thomas Abraham-James, President and CEO of Pulsar Helium. "The listing of our common shares will allow the public to be a part of what my colleagues and I believe to be a truly exciting company. Pulsar is the first mover in two new helium hotspots, with our Topaz project in Minnesota having already been drilled, and where we have identified a helium concentration of 10.5%. This is at a time where helium is in critical short supply, and the price is rising accordingly. To our existing shareholders I say thank you for your continued support, and to our new investors who will join after we list, welcome to Pulsar Helium."
Pursuant to an agency agreement dated July 31, 2023, Haywood Securities Inc. (the "Agent") acted as sole agent in respect of the IPO. In connection with the IPO, the Agent received a cash commission of $168,442.03 and 561,472 non-transferable share purchase warrants, each such warrant entitling it to purchase one common share of the Company for $0.30 for 24 months, subject to acceleration under certain conditions. The Agent also received a corporate finance fee partially comprised of 500,000 units (the "Corporate Finance Units"), with each Corporate Finance Unit being comprised of one common share and one non-transferable common share purchase warrant of the Company, with warrants exercisable at a price of $0.45 for 24 months, subject to acceleration under certain conditions.
The Company has also granted to the Agent an option (the "Agent's Option"). The Agent's Option is exercisable in whole or in part in the sole discretion of the Agent at any time and from time to time for a period of 30 days from the closing of the IPO, to purchase up to an aggregate number of additional Units as is equal to 15% of the aggregate number of Units issued pursuant to the IPO at the Offering Price to cover over-allocations, if any, and for market stabilization purposes.
As a result of the closing of the IPO, the Company now has 74,140,288 common shares issued and outstanding.
The Exchange classifies Pulsar Helium as a Tier 2 Issuer. For further information, including information relating to the use of the proceeds from the IPO, please refer to the Company's final prospectus dated July 31, 2023 available on the Company's profile at www.sedarplus.ca. The Company will issue regular updates to keep the market apprised of its plans and results.
About Pulsar Helium Inc.
Helium exploration and development is a nascent industry, brought into existence by a sudden and significant supply deficit that has persisted for over a decade and shows no sign of ending. Pulsar Helium exists to develop its helium assets, with the objective of bringing stability via sustainable supply that is not associated with hydrocarbon production. Pulsar Helium's assets include the flagship Topaz project in the USA with a helium content of 10.5%. Efforts are focused on fast-tracking activities at Topaz to realize its potential. Helium uses are abundant, the most significant being in superconducting magnets, semiconductor manufacturing, and as a pressuring agent in the fuel tanks of spacecraft. For further information visit www.pulsarhelium.com
On behalf Pulsar Helium Inc.
"Thomas Abraham-James"
President, CEO and Director
Further Information:
+ 1 (604) 599-0310
Neither 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.
Forward Looking Statements
This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, "forward-looking statements") that relate to the Company's current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as "will likely result", "are expected to", "expects", "will continue", "is anticipated", "anticipates", "believes", "estimated", "intends", "plans", "forecast", "projection", "strategy", "objective" and "outlook") are not historical facts and may be forward-looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. In particular and without limitation, this news release contains forward-looking statements pertaining to the trading of the Company's common shares on the TSXV, the Company's intended use of the proceeds from the IPO, and the Company's business objectives going forward. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release.
Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond the Company's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward- looking statements. Such risks and uncertainties include, but are not limited to, failure to resume the trading of the Company's common shares on the TSXV, failure of the Company to use the proceeds of the IPO as intended, and other factors set forth under "Cautionary Note Regarding Forward Looking Statements and Market and Industry Data" and "Risk Factors" in the Final Prospectus. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for the Company to predict all of them, or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.
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