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Pulsar Helium Announces Project Finance Facility and Closing of Final 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 Project Finance Facility and Closing of Final 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 / ACCESS Newswire / March 24, 2025 / Pulsar Helium Inc. (AIM:PLSR)(TSXV:PLSR)(OTCQB:PSRHF) (\"Pulsar\" or the \"Company\"), (\"Pulsar\" or the \"Company\"), a leading helium project development company, is pleased to announce that University Bancorp, Inc. has signed a term sheet to extend a US$4 million Project Finance facility to Pulsar's wholly owned Minnesota operating subsidiary, Keewaydin Resources, Inc. (\"Keewaydin\") in the form of a line of credit (the \"Facility\"). The Facility will be guaranteed by Pulsar and secured by a pledge of all of the shares of Keewaydin and a first lien on all assets of Keewaydin. The Facility will mature on March 31, 2026, and will bear interest on any amount drawn at 12% per annum. A utilization fee of 2% will be charged on the balance of any draws on the Facility, however such fees shall be reimbursable by Keewaydin at maturity. Keewaydin will draw funds from the Facility as needed to fund operational activities on Pulsar's Topaz helium project (\"Topaz\") in the near term.The Facility is subject to the execution of definitive documentation and certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the TSX Venture Exchange, if required.With positive drilling results to date at Topaz and imminent flow testing of the two Jetstream wells, the Company has re-evaluated the need to raise additional equity capital at this point. Contractors have confirmed their availability to mobilize to Topaz and commence flow testing of the Jetstream #1 and #2 wells on or around March 29, 2025, with each well to be flowed for a period of approximately two weeks. At the same time, uncontaminated gas samples will also be collected from ...