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Pulsar Raises $2.9mm, Appoints Board Members and hires Edelgas

Pulsar Helium completed its oversubscribed non-brokered private placement to raise gross proceeds of C$2.9mm. A total of 12.9mm new special warrants were issued at a price of C$0.225 each. Proceeds of the placement will be allocated to advancing the Company's helium projects and listing the Company's common shares on the TSX Venture Exchange. The Company also appointed a Board of Directors, which includes Chairman Neil Herbert, President and CEO Thomas Abraham-James, and independent directors Geoffrey Crow and Jón Ferrier. Advisory firm Edelgas Group was hired for commercialisation of its Topaz project in Minnesota.

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Helium One ended 2022 with a net cash balance of US$13.7mm, providing ample cash for its upcoming drilling campaign. In H2'22, cash outflow from operations was US$1.6mm and capital expenditure US$1.5m

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