Pulsar Helium Inc. (AIM: PLSR, TSXV: PLSR, OTCQB: PSRHF), a primary helium exploration and development company, has announced a planned leadership succession effective 30 October 2026, with Cliff Cain succeeding Thomas Abraham-James as Chief Executive Officer. Abraham-James transitions to Executive Chairman, while co-founder Neil Herbert retires from the Board. Alongside the leadership changes, Canaccord Genuity Limited has been appointed Sole Broker, working alongside existing Nominated and Financial Adviser Strand Hanson. The moves come as Pulsar advances its flagship Topaz project in Minnesota and its proposed Minnesota Rare Gas Hub.

Key Points

  • Pulsar Helium Inc. (AIM: PLSR, TSXV: PLSR, OTCQB: PSRHF) is a primary helium company with projects in Minnesota, Michigan, and Greenland
  • Cliff Cain appointed CEO and Board executive director; Thomas Abraham-James becomes Executive Chairman; Neil Herbert retires as Executive Chairman with effect from 30 October 2026
  • Canaccord Genuity appointed Sole Broker with immediate effect; Pulsar has drilled seven wells on the Topaz deposit, each successfully encountering helium, with up to six further wells planned for Q1 2027
  • Investors will be watching progress on the Minnesota Rare Gas Hub framework agreement with Baker Hughes subsidiary Chart Energy, valued at US$85.5 million subject to TSX Venture Exchange approval

Cliff Cain Elevated to CEO as Thomas Abraham-James Moves to Executive Chairman Role

Cliff Cain, who joined Pulsar as Manager of Commercial and External Affairs in December 2025 and was promoted to President in April 2026, now assumes the Chief Executive Officer position and joins the Board as an executive director. Thomas Abraham-James, previously CEO, becomes Executive Chairman and will support the planned management handover. The announcement states the changes are designed to establish the United States as the centre of Pulsar's executive leadership and operations, consistent with the location of its flagship Topaz project and proposed Minnesota Rare Gas Hub. Mr Cain relocated to Duluth, Minnesota, ahead of his appointment and holds no common shares in the company, though he is interested in 450,000 PSUs and 1,050,000 RSUs under the company's Equity Plan.

Neil Herbert's Departure and Strengthened Technical Team Under Prof. Nicholas Schofield

Co-founder Neil Herbert, who served as Executive Chairman since Pulsar's inception, has retired from the Board with effect from 30 October 2026. Separately, Professor Nicholas Schofield, previously engaged through an 80% secondment from the University of Aberdeen, joins Pulsar on a full-time basis as Senior Geologist. His expertise covers subsurface investigation of igneous geology using seismic reflection, well and geophysical data, and the occurrence of fluids and gases in such settings. To align his interests with the company's long-term objectives, Prof. Schofield has been awarded 500,000 stock options at CAD$1.295 per share and 1,000,000 performance share units under Pulsar's shareholder-approved Equity Incentive Plan.

Topaz Drilling Programme and US$85.5 Million Rare Gas Hub Framework with Baker Hughes Subsidiary

Pulsar has successfully encountered helium in all seven wells drilled to date on its Topaz deposit in Minnesota. The company is funded to drill up to six further wells on top of two production-ready holes already completed, with activity targeted for Q1 2027. The announcement also references a previously disclosed proposal accepted from Chart Energy and Chemicals, Inc., a subsidiary of Baker Hughes, establishing a staged framework for equipment supply to the proposed Minnesota Rare Gas Hub at an aggregate value of US$85.5 million, payable on achievement of applicable milestones. That proposal remains subject to approval by the TSX Venture Exchange.

Canaccord Genuity Appointed Sole Broker as US Designates Helium a Critical Material

Canaccord Genuity Limited has been appointed Sole Broker to Pulsar with immediate effect, complementing Strand Hanson's continuing role as Nominated and Financial Adviser. Canaccord introduced investors in Pulsar's most recent fundraising, as detailed in the company's 13 July 2026 news release. The broker appointment comes shortly after the US Department of Energy designated helium as a critical material on 23 October 2026 under the Energy Act of 2020, citing its role in semiconductor manufacturing and advanced energy technologies. Pulsar also notes that the Topaz deposit has shown appreciable concentrations of helium-3, which has potential applications in nuclear fusion, adding a further dimension to the asset's strategic profile.