Pulsar Helium Announces Proposed Acquisition of Major Minnesota Land Position to the West of Topaz Project

Core Viewpoint - Pulsar Helium Inc. has signed a non-binding term sheet to acquire up to 100% of Quantum Hydrogen Inc. in an all-share transaction, which is expected to significantly expand its helium exploration footprint in Minnesota by approximately 1,000% [1][3][5] Strategic Rationale for the Proposed Transaction - The acquisition will provide additional non-hydrocarbon gas leases in Minnesota, complementing Pulsar's existing portfolio and expanding its exploration area near the Topaz project [3][4] - The mineral rights are located in a sedimentary basin with geological traits similar to the Topaz project, which could potentially host helium accumulations [4][5] - Pulsar aims to leverage its subsurface knowledge and experience in identifying helium migration pathways to explore the newly acquired acreage [4][5] Terms of the Transactions - The term sheet includes a 120-day exclusivity period for the parties to execute a definitive agreement [5][7] - Pulsar will acquire 80% of Quantum's issued share capital through the issuance of new common shares, with a total consideration of US$400,000, paid in five equal monthly tranches [7][9] - Pulsar retains the right to acquire the remaining 20% of Quantum within 18 months for an additional US$400,000 in shares [7][9] Current Operations and Future Plans - The Topaz project has shown promising results, with a recent flow test at the Jetstream 1 well delivering a peak gas flow rate of approximately 1.3 million cubic feet per day of dry, helium-rich gas [11] - A multi-well drilling campaign at Topaz is set to commence in late September 2025 to further define the reservoir and enhance production capabilities [11]