Pulsar Helium firms up timetable for helium liquefaction plant agreement
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LONDON, Aug. 03, 2026 (GLOBE NEWSWIRE) -- Pulsar Helium Inc. (AIM: PLSR) (TSXV: PLSR) (OTCQB: PSRHF) (“ Pulsar ” or the “ Company ”), a primary helium company, provides an update on the binding Letter Agreement and Limited Notice to Proceed (" LNTP ") announced on June 30, 2026. The Letter Agreement and LNTP were entered into by Pulsar’s wholly owned subsidiary, Keewaydin Resources Inc. (DBA Pulsar Helium), 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.
As previously announced, the proposed equipment package is expected to include 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 Agreement. The proposed plant configuration contemplates helium liquefaction capacity of approximately 940 liters per hour and CO₂ capture capacity of approximately 300 tonnes per day, subject to final specifications and operating conditions.
The parties had previously agreed to use commercially reasonable efforts to negotiate and execute the definitive purchase agreement relating to the equipment package (the “ Definitive Agreement ”) by July 31, 2026. The parties have now agreed to extend the target date for execution of the Definitive Agreement to September 30, 2026, or earlier if both parties are ready to proceed. The additional time reflects the scope of the proposed transaction and is required to allow the parties to complete the remaining commercial, technical and internal review and approval processes. These workstreams are progressing well and require further coordination before the Definitive Agreement can be finalized. Importantly, Pulsar’s exclusive reservation rights under the Letter Agreement in respect of the proposed helium liquefaction plant and related equipment package remain fully in effect throughout the extended period on the existing terms, without any additional reservation cost arising from the extension, and the agreed pricing basis is preserved. The LNTP also remains in full force and effect, with amounts paid thereunder to be credited as previously agreed.
The parties will continue to use commercially reasonable efforts to negotiate and execute the Definitive Agreement by the revised target date. Completion of the transaction remains subject to execution of the Definitive Agreement, final equipment scope and specifications, financing arrangements, due diligence, delivery and commissioning terms, title and equipment confirmations, regulatory approvals (including the approval of the TSX Venture Exchange) and other customary conditions.
About the Topaz Project
The Topaz Project is Pulsar’s flagship primary helium project located in northern Minnesota, United States. Topaz is a non-hydrocarbon helium system being advanced as a potential domestic source of helium, with the additional opportunity to evaluate valuable by-products, including CO2 and He-3, as part of future development. The project is located in a stable U.S. jurisdiction with proximity to North American end markets and has the potential to support critical domestic supply chains, skilled employment and economic development in Northeastern Minnesota.
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 expectation of entering into the Definitive Agreement and completion of the same; the proposed equipment package; the anticipated impact of the acquisition of the plant pursuant to the Definitive Agreement, including such acquisition being a transformational milestone in Pulsar’s plan to advance its flagship Topaz helium project from discovery and appraisal into production, processing and liquefaction; and meaningfully de-risking the path to first production by securing the critical midstream infrastructure required to process, purify and liquefy helium; the facility providing a strategically important domestic source of liquid helium, with potential future production from Topaz supplemented by gas processing revenues from third-party gas streams, which features could materially improve the project’s financing profile and support funding on more favorable terms than would likely be available for a longer-dated new-build processing solution; the plant, if acquired, forming the cornerstone asset in Pulsar’s transition toward commercial production and a scalable rare gases platform in the United States; advancing the Topaz Project towards first production; the expected results of the new Minesota helium legislation; the expectation that the results of the 2D seismic survey and airborne gravity gradiometry will enhance the Company's understanding of the reservoir system and inform well targeting for the forthcoming production-ready drill program; the expected drilling of up to four new production wells, the increased confidence in the scale and quality of the Topaz Project and the results of operations. 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; the ability to obtain all requisite regulatory approvals; and that the State of Minnesota will complete the requisite rulemaking, environmental review, permitting requirements and implementation steps to allow for commercial production.
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; that Pulsar may be unsuccessful at negotiating the Definitive Agreement with the vendor; the risk that the equipment to be acquired pursuant to the Letter Agreement may not perform as anticipated or at all; 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; the risk that the requisite state rulemaking, environmental review, permitting and implementation steps will not be completed; 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.
Globe Newswire
August 2, 2026 - 11:15 PM PDT
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