Pulsar Helium Closes C$4.3mm Private Placement
- Jan 17, 2024
- 3 min read
Pulsar Helium completed its previously announced private placement, issuing 18.5mm units at C$0.23/unit for gross proceeds of C$4.26mm. Each unit comprises one share and one warrant, at a strike price of C$0.36/sh exerciseable within 24 months. ABCrescent B.V. (ABCapital) acquired 15.5mm shares, representing ~16.7% of Pulsar Helium's outstanding shares, and may exercise warrants to hold up to 28.7% on a diluted basis. The investment includes provisions for ABCapital to nominate a board member if its ownership remains at or above 10%. ABCapital's managing partner, Brice Laurent, has joined Pulsar Helium's Board of Directors. The proceeds will fund ongoing helium exploration programs and securities issued are subject to a four-month hold period.
