18th Oct 2024 10:53
(Alliance News) - Pulsar Helium Inc on Friday started trading on London's AIM market, highlighting that helium played a crucial role in technology-driven sectors.
The helium project development company said it raised about GBP3.9 million via a placing of 15.5 million new shares at 25 pence each.
Shares in the company rose 22% to 30.6p each on Friday morning in London.
The company's common shares will continue to be listed and traded on the TSX Venture Exchange in Canada and the OTCQB Venture Market in the US.
Chief Executive Officer Thomas Abraham-James said: "We are excited to announce our first day of dealings on the AIM market, a significant milestone for Pulsar that opens new avenues for growth and investment. This listing offers UK investors the opportunity to be part of Pulsar's journey as we aim to become a strategic supplier of green helium, a resource that is increasingly vital for the technologies of today and tomorrow."
He added: "Helium plays a crucial role in various technology-driven sectors and as the global helium market faces increasing supply constraints, our commitment to sustainable extraction practices positions us to meet the growing demand for this critical resource in a way that is mindful to the planet."
The company's main focus is the exploration and development of helium at its appraisal-stage Topaz project in Lake County, Minnesota. An independent technical report from Sproule International Ltd, based on drilling of the Jetstream 1 appraisal well at the project, had found commercial concentrations of helium and carbon dioxide, and further drilling is planned for the fourth quarter.
By Tom Budszus, Alliance News slot editor
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