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Pulsar Helium Inc on Friday said Michigan-based banking firm University Bancorp Inc has expressed an interest in providing $12.5 million in project financing. The White Rock, Canada-based helium development company said the non-binding expression of interest was to fund the construction of a helium processing plant at Pulsar’s wholly-owned Topaz project in Minnesota, US. University Bank currently holds around a 4.9% stake in Pulsar. The bank also extended the maturity date of its existing $4 million project financing facility line, which is provided to Pulsar subsidiary Keewaydin Resources Inc. The date has been pushed back to November 30, 2026, from March 31, 2026, for a 0.75% extension fee on the current drawn amount of $2.5 million. The fee is payable at the time the facility matures. ‘We are extremely grateful for University Bank’s continued support and confidence in Pulsar. Their financing interest of lending Pulsar up to $12.5 million for the construction of a helium processing plant marks another important step towards delivering the Topaz project into production,’ said Pulsar President & Chief Executive Officer Thomas Abraham-James. ‘This potential funding, alongside the extension of our existing line of credit, strengthens our ability to move forward decisively with construction planning and execution.’ Shares in Pulsar Helium were down 1.6% at 25.20 pence in London on Friday afternoon. The stock is down 8.4% over the past year. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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