Pulsar Helium Inc. (LON:PLSR)(TSXV:PLSR)(OTCQB:PSRHF), the helium project development company, has announced that it has conditionally raised £3.875 million (C$7 million) (before expenses), through a placing of new common shares with new and existing investors and is today publishing an AIM admission document in connection with the admission of the enlarged share capital of the Company to trading on the AIM Market of the London Stock Exchange plc. The Company will maintain its listing on the TSX Venture Exchange in Canada and the OTCQB Venture Market in the United States.
Total gross funds raised by the Company pursuant to the Fundraising and the £1.125 million pre-IPO cornerstone investment as first announced on 21 August 2024, therefore amount to £5 million.
HIGHLIGHTS OF THE FUNDRAISING
- The Fundraising comprises a placing of 15,500,000 new common shares at a price of 25p (approximately C$0.45) per Fundraising Share.
- As announced on 3 September 2024, the Company closed a pre-IPO cornerstone investment of £1.125 million by way of a subscription for special warrants of the Company by Jerome Anthony Keen, a principal of OAK Securities (a trading name of Merlin Partners LLP), pursuant to a special warrants subscription agreement entered into between the OAK Subscriber and the Company. On receipt of conditional approval from the TSX-V, the Cornerstone Investment will convert, at the Issue Price, into 4,500,000 new Common Shares
