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On August 15, 2025, Pulsar Helium Inc. announced that University Bank provided a non-binding expression of interest for up to US$12.5 million in project financing for Pulsar's Topaz project. Additionally, University Bancorp, Inc., which holds approximately 4.9% of Pulsar's shares, extended the maturity of an existing US$4 million facility for Pulsar's subsidiary, Keewaydin Resources, Inc., from March 31, 2026, to November 30, 2026, for a US$18,750 fee on the US$2.5 million currently drawn.
| Date | 15 Aug 2025 |
| Time | 07:00:10 |
| Category | Miscellaneous |
| ID | 4515V |
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.
NEWS RELEASE | AUGUST 15, 2025 | CASCAIS, PORTUGAL
PULSAR HELIUM ANNOUNCES RECEIPT OF NON-BINDING US$12.5 MILLION PROJECT FINANCING EXPRESSION OF INTEREST FROM UNIVERSITY BANK, MICHIGAN
Pulsar Helium Inc. (AIM: PLSR, TSXV: PLSR, OTCQB: PSRHF) ("Pulsar" or the "Company"), a leading helium project development company, is pleased to announce that University Bank, a Michigan-based banking company wholly owned by University Bancorp, Inc., has provided a non-binding expression of interest to provide Pulsar with project financing of up to US$12.5 million for the construction of a helium processing plant at the Company's wholly owned Topaz project in Minnesota, USA. University Bancorp, Inc. currently holds approximately 4.9% of Pulsar's issued share capital.
The Company also announces that University Bancorp, Inc. has extended the maturity date of the existing US$4 million project financing facility line of credit provided to Pulsar's subsidiary Keewaydin Resources, Inc. from March 31, 2026, to November 30, 2026, in consideration for a 0.75% extension fee on the current drawn amount of US$2.5 million (US$18,750), with the fee payable at maturity.
Thomas Abraham-James, President & CEO of Pulsar, commented:
"We are extremely grateful for University Bank's continued support and confidence in Pulsar. Their financing interest of lending Pulsar up to US$12.5 million for the construction of a helium processing plant marks another important step towards delivering the Topaz project into production. This potential funding, alongside the extension of our existing line of credit, strengthens our ability to move forward decisively with construction planning and execution."
The closing (the "Closing") of the proposed financing facility, which is subject to negotiation of definitive documentation and the satisfaction of specific conditions precedent (set out below), would bear interest at 12% per annum, with interest-only payments for the first twenty-four (24) months, followed by a full amortisation over five (5) years, with final maturity after seven (7) years. A 2% fee would be earned at Closing and payable at the end of the interest-only period.
Conditions to be satisfied prior to Closing include:
• Issuance of a final report by an independent resource estimator confirming sufficient proven helium reserves at the Topaz project to support a the construction of a helium plant;
• Receipt of all permits and legal title required for production at the Topaz project;
• Availability of sufficient working capital to fund the remaining plant construction costs and operations at the Topaz project through completion and for six months thereafter; and
• Approval by the Board of Directors of University Bank.
The proposed financing is non-binding and remains subject to negotiation of definitive agreements, satisfaction of all conditions precedent, and customary regulatory approvals.
On behalf Pulsar Helium Inc.
"Thomas Abraham-James"
President, CEO and Director
Further Information:
Pulsar Helium Inc.
+ 1 (218) 203-5301 (USA/Canada)
+44 (0) 2033 55 9889 (United Kingdom)
https://ca.linkedin.com/company/pulsar-helium-inc.
Strand Hanson Limited
(Nominated & Financial Adviser, and Joint Broker)
Ritchie Balmer / Rob Patrick
+44 (0) 207 409 3494
OAK Securities*
(Joint Broker)
Jerry Keen (Corporate Broking) / Henry Clarke (Institutional Sales) / Dillon Anadkat (Corporate Advisory)
+44 203 973 3678
*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.
Yellow Jersey
(Financial PR)
Charles Goodwin / Annabelle Wills
+44 777 5194 357
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.
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.
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.
Forward-Looking Statements
This news release and the interview contains 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. Forward-looking statements herein include, but are not limited to, statements relating relating to the expected satisfaction of the conditions precedent for the project financing, negotiation of a definitive agreement and Closing of the project financing, payment of extension fee, commercial production of the Topaz project, and results of operations. Forward-looking statements may involve estimates and are based upon assumptions made by management of the Company, including, but not limited to, the Company's capital cost estimates, management's expectations regarding the availability of capital to fund the Company's future capital and operating requirements and the ability to obtain all requisite regulatory approvals.
No reserves have been assigned in connection with the Company's property interests to date, given their early stage of development. The future value of the Company is therefore dependent on the success or otherwise of its activities, which are principally directed toward the future exploration, appraisal and development of its assets, and potential acquisition of property interests in the future. No un-risked Contingent and Prospective Helium Volumes have been defined at the Tunu Project. However, estimating helium volumes is subject to significant uncertainties associated with technical data and the interpretation of that data, future commodity prices, and development and operating costs. There can be no guarantee that the Company will successfully convert its helium volume to reserves and produce that estimated volume. Estimates may alter significantly or become more uncertain when new information becomes available due to for example, additional drilling or production tests over the life of field. As estimates change, development and production plans may also vary. Downward revision of helium volume estimates may adversely affect the Company's operational or financial performance.
Helium volume estimates are expressions of judgement based on knowledge, experience and industry practice. These estimates are imprecise and depend to some extent on interpretations, which may ultimately prove to be inaccurate and require adjustment or, even if valid when originally calculated, may alter significantly when new information or techniques become available. As further information becomes available through additional drilling and analysis the estimates are likely to change. Any adjustments to volume could affect the Company's exploration and development plans which may, in turn, affect the Company's performance. The process of estimating helium resources is complex and requires significant decisions and assumptions to be made in evaluating the reliability of available geological, geophysical, engineering, and economic date for each property. Different engineers may make different estimates of resources, cash flows, or other variables based on the same available data.
Forward-looking statements 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, that Pulsar may be unsuccessful in drilling commercially productive wells; the uncertainty of resource estimation; operational risks in conducting exploration, including that drill costs may be higher than estimates ; commodity prices; health, safety and environmental factors; and other factors set forth above as well as under "Cautionary Note Regarding Forward Looking Statements and Market and Industry Data" and "Risk Factors" in the AIM Admission Document published on October 14, 2024 found on the Company's web site at https://pulsarhelium.com/investors/aim-rule-26/default.aspx.
Forward-looking statements contained in this news release are as of the date of this news release, and 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. No assurance can be given that the forward-looking statements herein will prove to be correct and, accordingly, investors should not place undue reliance on forward-looking statements. Any forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.