Google Übersetzer
TSX: PSD
CALGARY, Nov. 16 /CNW/ - Pulse Data Inc. ("Pulse" or the "Company") announces that it has agreed to extend the targeted closing date of the sale of its Terrapoint business unit to December 31, 2007.
Under the non-binding letter of intent signed on October 29, 2007 and announced the next day, Pulse agreed to sell Terrapoint as a complete business unit to a world-class, internationally active engineering firm. The announced scheduled closing date was November 16, 2007.
Since then the purchaser has formally requested additional time to complete its due diligence process and to complete other scheduled commitments.
Pulse is hopeful that the Terrapoint disposition can close by December 31, 2007. No issues have arisen to date that would suggest the transaction cannot be completed, but nor does the letter of intent assure that the transaction will close.
As this process continues, Terrapoint is examining cost-saving measures aimed at reducing operating and G&A costs. The potential purchaser is in agreement with these measures, which would be undertaken irrespective of the status of the disposition.
Disclaimer: Certain information contained herein may constitute forward-looking statements under applicable securities laws. Such statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking statements. Investors are encouraged to review the "Risk Factors" section of the Management's Discussion and Analysis in the Company's most recent Annual Report and interim reports for a discussion of risks that could affect the Company's operations and financial results. Forward-looking statements are based upon management's assumptions, expectations and estimates at the time that such statements are made. Pulse does not update forward-looking statements should circumstances change or management's assumptions, expectations or estimates change, unless required by securities laws.