Pulsar Helium Inc (TSXV:PLSR, OTC:PSRHF), an explorer focused on acreage in Minnesota, has confirmed the completion of a £3.88 million (C$7 million) equity raise, ahead of joining the AIM market later this week.
Including a prior pre-IPO raise of £1.13 million, Pulsar will come to the London market holding around £5 million of cash.
The explorer intends to use the proceeds to accelerate the development of its Topaz project in Minnesota – with funds earmarked for drilling, seismic studies, and a preliminary economic assessment.
Trading in London will begin on 18 October, under the ticker symbol "PLSR."
Meanwhile, the company will retain a listing on the TSX Venture Exchange in Canada and the OTCQB Venture Market in the United States.
Pulsar highlighted the success of its fundraising effort, which was oversubscribed by more than 50%, saying it reflected strong confidence among its investors.
The market capitalisation will be around £31.60 million (C$56.50 million).