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Pulsar Helium Announces Closing of First Tranche of Private Placement
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBL...
About this update from Pulsar Helium, Inc.
[{"type":"text","content":"Pulsar Helium Announces Closing of First Tranche of Private PlacementTHIS 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. CASCAIS, PORTUGAL / ACCESSWIRE / January 10, 2025 / Pulsar Helium Inc. (AIM:PLSR)(TSXV:PLSR)(OTCQB:PSRHF) (\"Pulsar\" or the \"Company\"), a leading helium project development company, is pleased to announce that it has closed the first tranche (the \"First Tranche\") of the brokered private placement previously announced on December 30th, 2024 (the \"Private Placement\") through the issuance of 5,263,160 common shares (\"CommonShares\") at a purchase price of US$0.38 per Common Share (equivalent to approximately C$0.55/ GBP£0.30) for gross proceeds of US$2.0 million.The First Tranche includes participation from high net worth and institutional investors from the USA, including University Bancorp, Inc. that now holds 4.99% of the issued and outstanding Common Shares of the Company.The closing of the First Tranche provides sufficient funds to proceed with the step-out well, Jetstream #2. As announced on January 6th, 2025, the drill pad for the step-out well is prepared, and the conductor rig is to be installed this week. Drilling of Jetstream #2 is scheduled to commence immediately after deepening of Jetstream #1 is complete. In addition, the Company will be increasing the passive seismic (ambient noise tomography) footprint within the Topaz project area.In connection with the First Tranche, the Company paid a cash fee of US$120,000 to the Company's Placing Agent, University Bank.The securities issued in connection with the Private Placement will be subject to a four-month and one day hold period. The Private Placement is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the approval of the TSX Venture Exchange.The Company expects to provide an update on the closing of the remainder of the Private...