Core Viewpoint - Pulsar Helium Inc. has signed a non-binding term sheet to acquire 100% of Hybrid Hydrogen Inc. in an all-share transaction, marking its first entry into Michigan's Upper Peninsula and expanding its helium exploration portfolio [1][3][6] Summary by Sections Proposed Transaction Highlights - The acquisition involves a lease agreement covering approximately 6,742 acres of mineral rights in Michigan, targeting non-hydrocarbon gases [1][7] - The total value of the transaction is US$80,000, to be satisfied entirely by the issuance of new Pulsar common shares, preserving cash for ongoing projects [6][7] Strategic Rationale - The mineral rights in Michigan are located in a geologic setting similar to Pulsar's Topaz helium project in Minnesota, which is beneficial for helium exploration [4][5] - Pulsar's expertise in identifying helium migration pathways and subsurface structures will be leveraged to explore new resources in Michigan [5] Terms of the Proposed Transaction - The term sheet outlines that the acquisition is subject to customary conditions, including due diligence and regulatory approvals, with a 60-day exclusivity period for finalizing documentation [9] - The acquisition is non-binding, with no assurance that a definitive agreement will be reached [9] Company Background - Hybrid Hydrogen Inc. is an early-stage exploration company with no current revenue or proven reserves, indicating that the acquisition may not have a material near-term impact [10] - Pulsar Helium Inc. is publicly traded and focuses on helium projects, including its flagship Topaz project in Minnesota and the Tunu project in Greenland [13]