Highlights;
- Pulsar Helium to acquire 80% of Quantum Hydrogen in an all-share deal.
- Additional 20% option within 18 months.
- Payment in 5 monthly tranches of Pulsar shares.
- 120-day exclusivity for definitive agreement and due diligence.
- Quantum holds mineral rights in Minnesota near Pulsar’s Topaz project.
Pulsar Helium Inc. Signs Term Sheet for Acquisition of Quantum Hydrogen Inc.
In a recent announcement, Pulsar Helium Inc. (trading as PLSR.L, PLSR.V, PSRHF) revealed that it has entered into a non-binding term sheet with Oscillate plc to acquire up to 100% of Quantum Hydrogen Inc. through an all-share transaction. The agreement includes an exclusivity period of 120 days, allowing both parties sufficient time to finalize a definitive agreement and for Pulsar to conduct its due diligence.
Details of the Acquisition Structure
Under the terms outlined, Pulsar will initially acquire 80% of Quantum’s issued share capital. The consideration for this acquisition is structured as $400,000 in Pulsar common shares, issued in five equal monthly installments of $80,000 each, with no cash component involved. Additionally, Pulsar retains the option to purchase the remaining 20% of Quantum within the next 18 months for an additional $400,000, also in shares, following the same terms and pricing structure.
Strategic Significance of the Acquisition
Quantum currently holds exclusive mineral rights for non-hydrocarbon gases in Minnesota, specifically in St. Louis and Itasca Counties. Notably, these rights are positioned to the west of Pulsar’s flagship Topaz project, suggesting potential strategic synergies and operational efficiencies for Pulsar.
Disclaimer
The views and opinions expressed in this announcement are those of the author and do not necessarily reflect the views of Nasdaq, Inc. or any of its subsidiaries.
