Highlights

  • Pulsar Helium to acquire 80% of Quantum Hydrogen in all-share transaction valued at USD 400,000.
  • Acquisition increases Pulsar’s Minnesota acreage by approximately 1,000%, expanding its exploration footprint.
  • Assets located west of the Topaz Project, prospective for helium and hydrogen exploration.

Pulsar Helium Inc. (LSE:PLSR) announced it has entered a definitive agreement with Oscillate plc to acquire up to 100% of Oscillate’s wholly owned subsidiary, Quantum Hydrogen Inc. (“Quantum”), in an all-share transaction. This agreement replaces the non-binding term sheet announced on September 2, 2025.

Under the agreement, Pulsar will acquire 80% of Quantum’s issued share capital from Oscillate for consideration of new Pulsar common shares valued at USD 400,000, to be issued in five equal monthly tranches of USD 80,000 each. The issuance will commence following TSX Venture Exchange (TSXV) approval. The number of shares per tranche will be determined based on the thirty-day volume-weighted average price (VWAP) of Pulsar’s shares prior to each issuance, subject to TSXV minimum pricing rules.

Pulsar also has the option to acquire the remaining 20% of Quantum within 18 months for an additional USD 400,000 in shares under the same pricing mechanism. The newly issued shares will be subject to a four-month-and-one-day hold period from the date of issuance.

Neil Herbert, a director of Pulsar and a minority shareholder in Oscillate, abstained from board deliberations and voting on the transaction in accordance with corporate governance best practices.

Expanding Minnesota Helium Prospects

Quantum holds exclusive mineral rights for non-hydrocarbon gases covering approximately 59,100 gross acres in Minnesota’s St. Louis and Itasca counties, located west of Pulsar’s flagship Topaz Project. Upon completion, this acquisition represents a near 1,000% increase in Pulsar’s Minnesota acreage.

The assets are proximal and geologically analogous to the Topaz Project, which has demonstrated helium-rich gas flows. This strategic addition enables Pulsar to apply its subsurface expertise across a more conventional gas reservoir setting.

Quantum’s lease option on the assets is valued at about USD 296,000 on its balance sheet.

Strategic Rationale

The assets lie within a non-hydrocarbon-bearing sedimentary basin overlying Archaean crystalline basement — the same source rock type as at Topaz. While Topaz targets fractured basement reservoirs, these new assets represent a more conventional setting, where helium generated in basement granites migrates into sedimentary traps sealed by mudstone and siltstone.

Share performance of PLSR

PLSR’s shares traded at GBX 44.50 per share on 04 November 2025, Up by 1.14% from its previous close of GBX 44.00