Pulsar Helium Inc (AIM: PLSR) has signed a definitive agreement with Oscillate plc (AQSE: OSC) to acquire up to 100% of its subsidiary, Quantum Hydrogen Inc, in an all-share transaction valued at up to US$800,000.
Under the terms of the deal, Pulsar will initially acquire 80% of Quantum for US$400,000 in Pulsar shares, to be issued in five equal monthly tranches following TSX Venture Exchange approval. Pulsar will retain an option to acquire the remaining 20% within 18 months on the same terms.
Highlights of the Transaction
• Quantum holds exclusive mineral rights for non-hydrocarbon gases in Minnesota (59,100 gross acres) that are located in the St. Louis and Itasca Counties (the “Assets”), to the west of Pulsar’s flagship Topaz project.
• Circa 1,000% increase to Pulsar’s gross acreage in Minnesota, on completion of the acquisition of the Oscillate Shares.
• Proximal and prospective for helium and hydrogen, with geological traits analogous to the Topaz project, where recent testing at the Jetstream #1 appraisal well confirmed strong reservoir productivity, expected to support future production.
• Pulsar will have the opportunity to apply Pulsar’s extensive subsurface knowledge to the Assets, which represent a more conventional gas reservoir.
• Pulsar remains focused on achieving its core objective of becoming a major helium producer at Topaz, with this additional acreage being a low-cost, long-term addition intended for future exploration activities.
Quantum Hydrogen holds exclusive mineral rights for non-hydrocarbon gases across 59,100 acres in St. Louis and Itasca counties, Minnesota, directly west of Pulsar’s flagship Topaz helium project — representing a tenfold increase in the company’s acreage position.
The newly acquired assets are geologically analogous to Topaz and considered highly prospective for helium and hydrogen.
Chief Executive Thomas Abraham-James said the acquisition “strategically expands Pulsar’s low-cost exploration footprint while maintaining focus on advancing Topaz toward production, supported by recent strong helium flow tests and measurable helium-3 results.”
