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I see only an option to buy the print version. Is there an electronic version coming out anytime?
Not at the moment. I think the whole point is for it to be a physical newspaper.
It feels very odd that they aren't releasing a .pdf version where at least some parts are freely available to gain some initial traction.

I probably won't remember it after I close this tab unless it takes off somehow.

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Only paper? Hope that's a joke. HN Monthly has a terrific PDF version. Please reconsider, even if you charge a buck.
Not a joke; it's a project for Newspaper Club (http://www.newspaperclub.co.uk/). There may be a PDF version once the costs of the print run have been covered.
Charge for the pdf, then, if money is the issue. What's the reason behind newspaper-only?
Being paper only is genius. If postage wasn't such a barrier I'd buy one.
Please consider getting a partner in the United States to both print and distribute these here as well.

I'd love to order, but the UK postage costs will slowly get outrageous.

Postage to a UK address is 75p, postage to a US address is £1.50. That's costing you £3 (less than $5) per year more than it would cost us in the UK.
Issue 1, at first I thought it was something similar (or an allusion) to Bug #1 in Ubuntu's bug database.
Awesome tag line: "any sufficiently advanced hobby is indistinguishable from a job".
I've bought the first issue because it looks like it has potential. But I really think you should get a PDF version out fast because its a bit pricey atm and PDFs are a lot more handy.
You should get this on the iPad. Looks pretty good.