Pulse Seismic Inc. Receives TSX Approval for Normal Course Issuer Bid and Enters Into Automatic Share Purchase Plan

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[{"type":"text","content":"Pulse Seismic Inc. Receives TSX Approval for Normal Course Issuer Bid and Enters Into Automatic Share Purchase Plan\n\n\n\n CALGARY, Alberta, Feb. 19, 2025 (GLOBE NEWSWIRE) -- Pulse Seismic Inc. (TSX:PSD) (OTCQX:PLSDF) (“Pulse” or the “Company”) announces that the Toronto Stock Exchange (the “TSX”) has accepted the Company’s Notice of Intention to enter a normal course issuer bid (“NCIB”). The NCIB allows Pulse to purchase up to 2,770,658 common shares (representing 10 percent of the public float of 27,706,584 common shares as at February 17, 2025). All shares will be purchased through the facilities of the TSX and/or alternative Canadian trading platforms. All shares purchased under the normal course issuer bid will be cancelled. The duration of the normal course issuer bid will be from February 24, 2025, through February 23, 2026. As of February 17, 2025, the Company had 50,837,763 common shares outstanding.\n \n\n The Company’s purchase of shares during any trading day will not exceed 2,866 common shares (representing 25 percent of the average daily trading volume of 11,467 shares traded on the TSX during the most recently completed six calendar months preceding the filing of the Notice of Intention), subject to Pulse’s ability to make block purchases in accordance with the TSX facilities and rules.\n \n\n During the period from December 20, 2023, through December 19, 2024, the NCIB allowed Pulse to purchase up to 2,957,406 common shares. During that period, Pulse purchased 1,799,600 common shares under the normal course issuer bid at a weighted average price of $2.17 per share. All shares were purchased through the facilities of the TSX and/or alternative Canadian trading platforms. All shares purchased under the normal course issuer bid were cancelled.\n \n\n The Company also entered into an automatic share purchase plan (“ASPP”) with a broker, in order to facilitate repurchases of Pulse’s common shares under its normal course issuer bid (“NCIB”). During the effective period of its ASPP, Pulse’s broker may purchase common shares at times when Pulse would not be active in the market due to regulatory restrictions, including insider trading rules, and Pulse’s own internal trading blackout periods. Purc...

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