Core Viewpoint - Pulsar Helium Inc. has acquired 100% of Hybrid Hydrogen Inc. for a total consideration of US$80,000, marking its first entry into Michigan's helium exploration market [3][6]. Acquisition Details - The acquisition involves a cash payment of US$80,000 for all issued and outstanding shares of Hybrid, which holds exclusive mineral rights covering approximately 5,742 acres in Michigan's Upper Peninsula [6][8]. - This transaction supersedes a previously announced all-share structure from October 27, 2025 [3]. Strategic Rationale - The Michigan mineral rights are geologically similar to Pulsar's Topaz helium project in Minnesota, providing a familiar growth opportunity [7][9]. - The acquisition allows Pulsar to expand its asset base at a low cost, ensuring resources remain focused on the flagship Topaz project [8][9]. - The company aims to leverage its existing expertise in helium exploration to discover additional resources in Michigan [9]. Topaz Project Overview - The Topaz Project, located in northern Minnesota, is a primary helium discovery with confirmed high helium concentrations, averaging 8.1% in Jetstream 1 and 5.6% in Jetstream 2 [10]. - Pulsar is the first mover in helium exploration in both the Topaz and Tunu projects, with primary helium occurrences not associated with hydrocarbon production [12].

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]