Pulsar Helium Inc (LSE:PLSR) shares were sharply higher on Friday after the firm told investors that communications circulated by a third-party broker about a supposed private placement involving the company were false and “have no basis”.
The AIM, TSX-V and OTCQB-quoted helium company said the broker had circulated communications including terms of a private placement.
Pulsar said it is now reviewing its regulatory and legal options to hold the third party responsible for circulating the false communications.
The company’s portfolio comprises the flagship Topaz helium project in Minnesota, the Falcon project in Michigan and the Tunu helium project in Greenland. Exploration work has not yet commenced at the Michigan location.
In London, Pulsar was up 9.5% on Friday, changing hands at 92.7p