IN BRIEF: Pulsar Helium aims to raise USD7.5 million in share placing
31st Dec 2024 10:03
Pulsar Helium Inc - developing Topaz helium project in US state of Minnesota - Strikes agreement with Michigan-based University Bank to be the placement agent for a share offer to raise up to USD7.5 million. The new shares will be placed with US-based investors at USD0.38, about 30 pence. University Bank will receive a fee of 6.0% of the purchase price of each share sold. As part of the arrangement, University Bancorp Inc, the owner of University Bank, will provide a USD4.0 million line of credit to ABCrescent Cooperatief UA, a major shareholder in Pulsar Helium. This will allow ABC to exercise its 15.5 million share purchase warrants to buy Pulsar shares at CAD0.36, about 20p. Read More