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Highlights
- Pulsar Helium signs term sheet for US$4 million Project Finance Facility.
- Facility to fund operational activities at the Topaz helium project.
- Second tranche of brokered private placement closed, raising US$427,498.
Pulsar Helium Inc. (TSXV:PLSR), a prominent helium project development company, has announced that University Bancorp, Inc. has signed a term sheet to extend a US$4 million Project Finance Facility to Pulsar’s wholly owned subsidiary, Keewaydin Resources, Inc. ("Keewaydin"). This line of credit will be secured by a pledge of all shares of Keewaydin and a first lien on its assets. The loan facility, which will mature on March 31, 2026, will bear an interest rate of 12% per annum on any amount drawn, with a 2% utilization fee on the balance. The funds will be utilized for operational activities on Pulsar's Topaz helium project, with draws expected as needed in the near term.
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