Pulsar Files Financial and Operating Results for the Third Quarter Ended June 30, 2026
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM AUSTRALIA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR TO BE TRANSMITTED, DISTRIBUTED TO, OR SENT BY, ANY NATIONAL OR RESIDENT OR CITIZEN OF ANY SUCH COUNTRIES OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION MAY CONTRAVENE LOCAL SECURITIES LAWS OR REGULATIONS.
LONDON, Aug. 27, 2026 (GLOBE NEWSWIRE) --
Pulsar Helium Inc. (AIM: PLSR, TSXV: PLSR, OTCQB: PSRHF) ("Pulsar" or the "Company"), a primary helium company, is pleased to announce its financial and operating results for the nine months ended June 30, 2026 (the “Period”).
Selected financial and operational information is outlined below and should be read in conjunction with the Company's unaudited condensed interim consolidated financial statements and related management’s discussion and analysis (the "MD&A") for the nine months ended June 30, 2026, which are available on the Company's website at www.pulsarhelium.com and the Company’s SEDAR+ profile at www.sedarplus.ca.
All figures are in US dollars ("$") unless otherwise stated.
Operational Highlights for the Period
- Between October 2025 to March 2026, the Company drilled five core-hole appraisal wells at its flagship Topaz Project in Minnesota, with all wells encountering gas under high pressure. The Company is now obtaining quotes for the drilling of up to six new production ready wells to supplement the two production-ready wells already drilled.
- In May 2026, Governor Tim Walz signed into law new legislation establishing a helium-specific framework for gas resource development in northeastern Minnesota, and the Minnesota Department of Natural Resources issued proposed expedited permanent rules for permitting gas resource development on May 18, 2026. These developments come amid a sharp tightening of global helium supply, driven by disruption to the Strait of Hormuz, attacks on QatarEnergy's Ras Laffan facilities (noting that Qatar supplies approximately 35% of the world's helium), and new Russian export controls in place through the end of 2027. In the United States, some helium customers have already been subject to allocation measures and surcharge notices from major industrial gas suppliers, underscoring the urgent need for secure, domestic, primary helium supply.
- In May 2026, the Company completed the acquisition of certain surface land in Lake County, Minnesota, located within the Topaz Project for a purchase price of $2,480,000 cash.
- In January 2026, two U.S. Federal laboratories independently confirmed the helium-3 (3He) isotope concentration from the Topaz Project. The U.S. Geological Survey Noble Gas Laboratory in Denver and Lawrence Livermore National Laboratory in California each analyzed raw gas samples from the Jetstream #1 well, both laboratories reported results consistent with prior analyses conducted by the Woods Hole Oceanographic Institution, confirming the presence of ³He in the gas with a concentration range of 11.2-11.9 parts-per-billion (ppb) and associated with 7.7- 8.0% helium-4 (4He), respectively.
Helium Liquefaction Plant
As announced June 30, 2026 and August 3, 2026, the Company entered into binding letter agreement and limited notice to proceed with an arm's length third party vendor, for the reservation of a helium liquefaction plant and related equipment package for potential deployment in Minnesota. The equipment package includes helium purification and liquefaction equipment, CO₂ capture equipment, compression, storage, controls, documentation, spares and related services, with the final scope to be agreed in the definitive purchase agreement to be negotiated between the parties.
Financial Highlights for the Period
- During the Period, the Company recorded exploration and evaluation expenditures of $8.0 million related to drilling at the Topaz project as described above.
- During the Period, the Company completed a private placement through the issuance of 9,191,175 common shares for gross proceeds of $9.9 million.
- During the Period, the Company issued 20,029,492 common shares on the exercise of warrants for gross proceeds of $5.3 million.
- During the Period, the Company issued 6,200,000 common shares on the exercise of options for gross proceeds of $2.2 million.
Subsequent to the Period
- Subsequent to the Period, the Company completed a private placement through the issuance of 25,393,329 common shares at a price of £0.75 per share for total gross proceeds of $25.5 million (£19,044,997). The Company paid cash finder’s fee of $1.2 million.
Selected Financial Results | ||||||
| Nine months ended June 30, 2026 | Nine months ended June 30, 2025 | |||||
| Statement of Loss: | ||||||
| Revenue | $Nil | $Nil | ||||
| Net loss | $19,370,965 | $8,515,252 | ||||
| Basic and diluted loss per common share | $0.11 | $0.07 | ||||
| Financial Position: | ||||||
| Total assets | $9,171,202 | $1,878,670 | ||||
| Total liabilities | $975,349 | $5,601,399 | ||||
* During the Period, the Company recorded a non-cash loss on revaluation of warrant liability of $3,413,140 (2025 – gain of $1,103,615)
Thomas Abraham-James, CEO of Pulsar, commented: “This recent fundraise is intended to accelerate Pulsar’s transition from discovery and appraisal towards production planning at Topaz. Recent drilling has increased our confidence in the project, and we believe the current helium market backdrop supports the preparation of additional wells, the securing of long-lead items and the advancement of infrastructure required for first production.
“In parallel, we believe the Company`s recently announced reservation of a helium liquefaction plant has the potential to strengthen our route-to-market strategy, support future Topaz production, and create the opportunity for earlier revenue from third-party gas processing while we continue to advance permitting and development activities.”
On behalf of Pulsar Helium Inc.
“Thomas Abraham-James”
CEO and Director
Further Information:
Pulsar Helium Inc.
connect@pulsarhelium.com
+ 1 (218) 203-5301 (USA/Canada)
+44 (0) 2033 55 9889 (United Kingdom)
https://pulsarhelium.com
https://ca.linkedin.com/company/pulsar-helium-inc.
Strand Hanson Limited
(Nominated & Financial Adviser, and Broker)
Ritchie Balmer / Rob Patrick
+44 (0) 207 409 3494
Yellow Jersey PR Limited
(Financial PR)
Charles Goodwin / Annabelle Wills
+44 777 5194 357
pulsarhelium@yellowjerseypr.com
About Pulsar Helium Inc.
Pulsar Helium Inc. is a publicly traded company quoted on the AIM market of the London Stock Exchange (United Kingdom) and listed on the TSX Venture Exchange with the ticker PLSR (Canada), as well as on the OTCQB with the ticker PSRHF (United States of America). Pulsar's portfolio consists of its flagship Topaz helium project in Minnesota, the Falcon project in Michigan (both in the USA), and the Tunu helium project in Greenland. Pulsar is the first mover in both locations with primary helium occurrences not associated with the production of hydrocarbons identified at each.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains “forward-looking information” within the meaning of Canadian securities legislation (collectively, "forward-looking statements") that relate to the Company's current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as "will likely result", "are expected to", "expects", "will continue", "is anticipated", "anticipates", "believes", "estimated", "intends", "plans", "forecast", "projection", "strategy", "objective" and "outlook") are not historical facts and may be forward-looking statements. Forward-looking statements herein include, but are not limited to, statements relating to the development of the Topaz project into a significant helium producer; the recent legislation updating Minnesota’s permitting framework for helium extraction providing a clearer pathway towards future production; and the acquisition of the surface land overlying the leased Topaz mineral rights providing the Company with increased operational control and long-term development certainty.
Forward-looking statements may involve estimates and are based upon assumptions made by management of the Company, including, but not limited to, the Company's capital cost estimates, management's expectations regarding the availability of capital to fund the Company's future capital and operating requirements and the ability to obtain all requisite regulatory approvals.
No reserves have been assigned in connection with the Company's property interests to date, given their early stage of development. The future value of the Company is therefore dependent on the success or otherwise of its activities, which are principally directed toward the future exploration, appraisal and development of its assets, and potential acquisition of property interests in the future. Un-risked Contingent and Prospective Helium Volumes have been defined at the Topaz Project. However, estimating helium volumes is subject to significant uncertainties associated with technical data and the interpretation of that data, future commodity prices, and development and operating costs. There can be no guarantee that the Company will successfully convert its helium volume to reserves and produce that estimated volume. Estimates may alter significantly or become more uncertain when new information becomes available due to, for example, additional drilling or production tests over the life of field. As estimates change, development and production plans may also vary. Downward revision of helium volume estimates may adversely affect the Company's operational or financial performance.
Helium volume estimates are expressions of judgement based on knowledge, experience and industry practice. These estimates are imprecise and depend to some extent on interpretations, which may ultimately prove to be inaccurate and require adjustment or, even if valid when originally calculated, may alter significantly when new information or techniques become available. As further information becomes available through additional drilling and analysis the estimates are likely to change. Any adjustments to volume could affect the Company's exploration and development plans which may, in turn, affect the Company's performance. The process of estimating helium resources is complex and requires significant decisions and assumptions to be made in evaluating the reliability of available geological, geophysical, engineering, and economic data for each property. Different engineers may make different estimates of resources, cash flows, or other variables based on the same available data.
Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, that Pulsar may be unsuccessful in drilling commercially productive wells; the uncertainty of resource estimation; operational risks in conducting exploration, including that drill costs may be higher than estimates; commodity prices; health, safety and environmental factors; and other factors set forth above as well as risk factors included in the Company’s Annual Information Form dated February 3, 2026 for the year ended September 30, 2025 found under Company’s profile on www.sedarplus.ca.
Forward-looking statements contained in this news release are as of the date of this news release, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for the Company to predict all of them or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. No assurance can be given that the forward-looking statements herein will prove to be correct and, accordingly, investors should not place undue reliance on forward-looking statements. Any forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.
