Helium project development firm Pulsar Helium has received expression of interest financing worth $12.5m from Michigan-based University Bank to fund plant construction of its Topaz project in Minnesota.
The company also announced that University Bancorp, which currently holds 4.9% of Pulsar’s issued share capital, has extended the maturity date of the existing $4m project financing facility line of credit provided to subsidiary Keewaydin Resources, from 31 March 2026, to 30 November 30, 2026.
This is in consideration for a 0.75% extension fee on the current drawn amount of $2.5m ($18,750), with the fee payable at maturity.
Thomas Abraham-James, President & CEO of Pulsar, said University Bank’s continued support marks another important step towards delivering the Topaz project into production.
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