Pulsar Helium Inc. (PLSR.L), a primary helium exploration and development company, on Monday said it has acquired Hybrid Hydrogen Inc. for $80,000, replacing a previously proposed all-share transaction.
Hybrid's main asset is an exclusive mineral rights option covering approximately 5,742 acres in Michigan's Upper Peninsula, targeting non-hydrocarbon gases, primarily helium. This marks Pulsar's first entry into Michigan, a region with a well-established gas regulatory framework now applied to helium exploration.
The acquisition provides Pulsar with a low-cost foothold in a geologically prospective area, aligns with its Upper Midwest expansion strategy, and allows the company to maintain focus on its flagship Topaz helium project in Minnesota.
"This is a remarkably low-cost entry into Michigan that strengthens our helium exploration portfolio. The Michigan acreage is geologically analogous to our Topaz project, offering a technically familiar growth opportunity. For a modest price, we are expanding into an area where we can leverage our teams existing expertise, all while staying true to our disciplined, helium-focused expansion strategy," said Thomas Abraham-James, President & CEO of Pulsar.
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