Pulsar Helium Accelerates Warrant Expiry Date to Boost Treasury
- Apr 4, 2024
- 3 min read
Pulsar Helium announced the acceleration of the expiry date for its purchase warrants issued on August 15, 2023, moving the date to May 6, 2024. This decision, triggered by the company's share price C$0.60 for 25 consecutive days, aims to strengthen its treasury by encouraging early warrant exercise. Each Warrant has a strike price of C$0.45. If all 7.43mm warrants are exercised, it will result in gross proceeds of C$3.3mm, however there is uncertainty around how many warrants will be exercised. As of April 3, 2024, 2.9mm warrants were exercised for gross proceeds of C$1.3mm alongside 0.9mm broker warrants issued worth C$0.3mm. This amounts to Pulsar's total cash position of C$3.1mm. The proceeds from these exercises are intended to expand the company's 2024 work programs and accelerate the development of the Topaz discovery. Separately, Reuters has published a documentary film on Pulsar's helium exploration journey showcasing its progress at the Topaz project as well as an overview on the helium market.
