Leadership Succession and Appointment Sole Broker
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NEWS RELEASE | NOVEMBER 2, 2026 | DULUTH, USA
PULSAR HELIUM ANNOUNCES LEADERSHIP SUCCESSION AND APPOINTMENT OF CANACCORD GENUITY AS SOLE BROKER
Pulsar Helium Inc. (AIM: PLSR, TSXV: PLSR, OTCQB: PSRHF) ("Pulsar" or the "Company"), a primary helium company, announces a planned leadership succession, with Thomas Abraham-James transitioning from Chief Executive Officer to Executive Chairman and Cliff Cain, the Company's President, becoming Chief Executive Officer and joining the Board of Directors (the "Board") as an executive director. As part of this transition, Neil Herbert has retired as Executive Chairman and a director. All changes took effect October 30, 2026. These appointments advance the Company's strategy to establish the United States as the center of its executive leadership and operations, alongside its flagship Topaz project and proposed Minnesota Rare Gas Hub, whilst also ensuring continuity at this stage of the Company's development.
The Company also announces that Professor Nicholas Schofield, who currently serves as Senior Geologist on a part-time basis, will join Pulsar full-time, strengthening its technical team as it advances the Topaz project and proposed Minnesota Rare Gas Hub.
In addition, Canaccord Genuity Limited ("Canaccord") has been appointed as Sole Broker, working alongside Strand Hanson as Nominated and Financial Adviser to support the Company's engagement with shareholders and institutional investors. Canaccord introduced a number of investors in the Company's most recent fundraising as detailed in the Company's July 13, 2026, news release.
Cliff Cain, CEO of Pulsar, commented: "On behalf of the Board and everyone at Pulsar, I want to thank Neil for his vision, commitment and contribution to the Company, and wish him well for the future. Thomas's continued involvement as Executive Chairman will provide valuable continuity as I take on the CEO role. The Company is well funded. With its two flagship projects in Minnesota, and with Helium now designated by the U.S. Department of Energy as a critical material and Merchant Grade CO2 being in short supply, Pulsar is well positioned for its next phase of development."
Neil Herbert, departing Executive Chairman, commented: "Having served as a co-founder and Chairman since Pulsar's inception, it has been a privilege to help guide the Company's development. I thank our colleagues, partners, investors and supporters, and step down with confidence in the team and its leadership. I wish Pulsar every continued success."
Leadership and Board Changes
The leadership changes build on the previous appointment of Mr. Cain, who relocated to Duluth, Minnesota to join Pulsar, as Manager of Commercial & External Affairs in December 2025 and his promotion to President in April 2026; the appointment of Mr. Ranzini as Deputy Chair in March 2026; and the appointment of David Young as a director and Chief Financial Officer in September 2026.
Following these changes, the Board comprises Thomas Abraham-James (Executive Chairman), Stephen Lange Ranzini (Deputy Chair), Cliff Cain (Chief Executive Officer), David Young (Chief Financial Officer), and Jón Ferrier and Doris Meyer (both independent Non-Executive Directors). Mr. Abraham-James will lead the Board and support the planned handover, while Mr. Cain will lead executive management and the delivery of the Company's strategy. All other Board roles remain unchanged.
The Board extends its sincere thanks to Neil Herbert for his vision, leadership and service and wishes him well in his future endeavors.
In addition, Prof. Nicholas Schofield will join Pulsar on a full-time basis as Senior Geologist, effective today, strengthening the Company's technical team as it advances its exploration and development programs. Prof. Schofield already serves as senior geologist on a part-time basis through an 80% secondment from the University of Aberdeen, providing continuity as he moves into the full-time role. His key skill is subsurface investigation of igneous geology via the use of seismic reflection, well and geophysical data and the occurrence of fluids and gasses in such settings (both hydrocarbon and non-hydrocarbon derived). He graduated from the University of Edinburgh, Grant Institute of Geology and Geophysics, Geology BSc (2:1) awarded July 2004. He then went on from 2005 to the University of Birmingham to graduate in 2009 with a PhD.
Positioned for the Next Phase
The leadership transition comes at a time of increasing recognition of helium's strategic importance to the United States. On October 23, 2026, the U.S. Department of Energy designated helium as a critical material under the Energy Act of 2020, citing its essential role in semiconductor manufacturing and advanced energy technologies, as well as growing exposure to supply-chain disruption. The Department also highlighted the importance of developing reliable domestic supply, noting that limited refining capacity and lengthy permitting timelines continue to constrain U.S. production.
Against this backdrop, Pulsar is advancing its flagship Topaz project and proposed Minnesota Rare Gas Hub, with the objective of contributing to a secure domestic supply of helium and other strategically important gases. The Company enters its next phase from a position of financial strength and with the flexibility to progress its planned technical, commercial and development activities.
Pulsar has drilled seven wells on its Topaz deposit, successfully encountering helium each time. The Company is funded for the next step to drill up to six further wells on top of the two production-ready holes already drilled, slated for Q1 2027. As reported in the Company's news release of October 1, 2026, the Company accepted a proposal from Chart Energy & Chemicals, Inc., a subsidiary of Baker Hughes, that establishes a staged framework for the supply of equipment for Pulsar's proposed Rare Gas Hub in Minnesota for an aggregate value of US$85.5 million paid in stages on achievement of applicable milestones under the proposal. The proposal remains subject to approval by the TSX Venture Exchange.
As reported in the Company's news release of October 15, 2026, Pulsar signed a purchase and development agreement with the City Council of Two Harbors, Minnesota (the "City"). The agreement establishes the framework for the proposed acquisition, subject to its terms and conditions, of land (the "Property") within an existing industrial district of the City. Pulsar proposes to develop the Property as the location for the Rare Gas Hub for helium and other rare-gas processing, including helium liquefaction and carbon capture capabilities.
Topaz has also shown appreciable 3He concentrations, which has potential applications in nuclear fusion and other fields.
Pulsar plans further helium exploration, including its Falcon project in Michigan, and its Tunu project in Greenland.
Pulsar's focus remains on disciplined execution, advancing these workstreams and creating long-term value for shareholders.
Appointment of Sole Broker
Canaccord has been appointed as Sole Broker to the Company, with immediate effect. Canaccord will work alongside Strand Hanson, which continues as the Company's Nominated & Financial Adviser, supporting the Company's engagement with shareholders and the wider institutional investor community.
Employee Equity Incentives
To align employee interests with the Company's long-term success, the Board has approved the following security-based compensation awards to Prof. Schofield, effective November 2, 2026:
• 500,000 stock options. The stock options are granted pursuant to the Company's Stock Option Plan and grant the optionee the right to purchase one common share (a "Share") at a purchase price of CAD$1.295 per Share for a period of five years from the date of grant. The stock options granted are to vest as to 333,333 immediately, and the remaining 166,667 vesting on the first anniversary from the date of grant.
• 1,000,000 performance share units ("PSUs") were awarded, under the Company's Equity Incentive Plan (the "Equity Plan"). The PSUs vest as to 666,666 on the first anniversary of the award date, and the remaining 333,334 on the second anniversary of the award date.
The stock option grant and PSU award are pursuant to the Company's shareholder approved Stock Option Plan and Equity Plan.
Further Information on Cliff Cain's appointment (pursuant to the AIM Rules for Companies):
Clifford O'Brian Cain (aged 45), holds, or has held, the following directorships or partnerships within the past five years:
|
Current directorships/partnerships |
Past directorships/partnerships in the last five years |
|
Edelgas Group Inc. |
None |
Mr. Cain holds no common shares in the Company. Pulsar notes that Mr. Cain is interested directly in 450,000 PSUs and 1,050,000 RSUs pursuant to the Company's shareholder approved Equity Plan.
There are no further disclosures to be made in accordance with Rule 17 and Schedule Two (g) of the AIM Rules for Companies in respect of the appointment of Mr. Cain.
On behalf of Pulsar Helium Inc.
"Cliff Cain"
Chief Executive Officer
Further Information:
Pulsar Helium Inc.
+ 1 (218) 203-5301 (USA/Canada)
+44 (0)2033 55 9889 (United Kingdom)
https://ca.linkedin.com/company/pulsar-helium-inc.
Strand Hanson Limited
(Nominated & Financial Adviser)
Ritchie Balmer / Rob Patrick
+44 (0) 207 409 3494
Canaccord Genuity Limited
(Sole Broker)
Henry Fitzgerald-O'Connor / Rory Blundell / Charlie Hammond
+44 (0) 207 523 8000
Velocity Public Affairs
(Public Relations)
Stephanie Moncada / Mike Zipko
+ 1 (218) 203-5301
pulsarhelium@velocitypublicrelations.com
Yellow Jersey PR Limited
(Financial Public Relations)
Charles Goodwin / Annabelle Wills
+44 777 5194 357
pulsarhelium@yellowjerseypr.com
About Pulsar Helium Inc.
Pulsar Helium Inc. is a publicly traded company quoted on the AIM market of the London Stock Exchange (United Kingdom) and listed on the TSX Venture Exchange with the ticker PLSR (Canada), as well as on the OTCQB with the ticker PSRHF (United States of America). Pulsar's exploration and development portfolio comprises its flagship Topaz helium project in Minnesota, the Falcon project in Michigan (both in the USA), and the Tunu helium project in Greenland. Pulsar is the first mover in these project locations, with primary helium occurrences not associated with the production of hydrocarbons identified at each. Separately, the Company is advancing its proposed Rare Gas Hub in Minnesota.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains forward-looking information within the meaning of Canadian securities legislation (collectively, "forward-looking statements") that relate to the Company's current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as "will likely result", "are expected to", "expects", "will continue", "is anticipated", "anticipates", "believes", "estimated", "intends", "plans", "forecast", "projection", "strategy", "objective" and "outlook") are not historical facts and may be forward-looking statements. Forward-looking statements herein include, but are not limited to, statements relating to: the anticipated benefits of the leadership and Board changes described herein, including continuity and support for the Company's next phase of development; the Company's plans to advance the Topaz project and to conduct helium exploration, including drilling, at its Falcon project in Michigan and at its Tunu project in Greenland; the Company's plan to develop the Property as the location for its proposed Rare Gas Hub for helium and other rare-gas processing; the anticipated use and sufficiency of the Company's existing cash resources; and the Company's objective of contributing to the development of a secure domestic supply of helium and other strategically important gases. Forward-looking statements are based on a number of material factors and assumptions, including, but not limited to: the receipt of any required approvals for the changes described herein; the Company will be able to retain and attract qualified personnel; the Company will have sufficient capital and resources to fund its planned operations and development activities; and general economic, financial, market and business conditions will not materially change in a manner adverse to the Company.
Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, the risk that required approvals may not be obtained or may be delayed; risks associated with management and Board transitions; the risk that the Company may be unable to obtain sufficient financing; and other factors set forth above as well as risk factors included in the Company's Annual Information Form dated February 3, 2026, for the year ended September 30, 2025, found under the Company's profile on www.sedarplus.ca.
Forward-looking statements contained in this news release are as of the date of this news release, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for the Company to predict all of them or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. No assurance can be given that the forward-looking statements herein will prove to be correct and, accordingly, investors should not place undue reliance on forward-looking statements. Any forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.
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