Business
Pulse signs letter of intent to sell Trango Technologies Inc.
Pulse signs letter of intent to sell Trango Technologies Inc..
About this update from Pulse Seismic Inc.
[{"type":"text","content":"\n\n\n\n\nTSX Symbol - (TSX:PSD) \n\nCALGARY, May 15 /CNW/ - Pulse Data Inc. (\"Pulse\" or the \"Company\") is\npleased to announce that it has signed a Letter of Intent to sell its wholly\nowned subsidiary, Trango Technologies Inc. to a large and diverse\nmultinational corporation. Ken MacDonald, President and CEO of Pulse stated,\n\"We believe this disposition will be a very good situation for Trango, and\nwill allow an accelerated deployment of its products and technologies on a\nworldwide basis.\"\nThe transaction is conditional upon certain conditions, including the\napproval of the purchaser's board of directors, the completion of a due\ndiligence review by the purchaser, and the negotiation and execution of a\nformal purchase and sale agreement. The transaction is expected to close by\nJune 30, 2006.\n\nPulse is a Calgary-based international company specializing in data\nownership through acquisition, marketing and information management, with a\ncurrent focus on the energy sector. Through its three operating segments,\nPulse Seismic, Terrapoint and Trango, the Company has evolved into an industry\nleader in providing better information faster.\n\nPulse trades on the Toronto Stock Exchange under the symbol PSD.\n\nCertain information contained herein may constitute forward-looking\nstatements under applicable securities laws. Such statements are subject to\nknown or unknown risks and uncertainties that may cause actual results to\ndiffer materially from those anticipated or implied in the forward-looking\nstatements. Investors are encouraged to review the \"Risk Factors\" section of\nthe Management's Discussion and Analysis for the year ended December 31, 2005\nand the interim periods for 2006 for a discussion of risks that could affect\nthe Company's operations and financial results. Forward-looking statements are\nbased upon management's assumptions, expectations and estimates at the time\nthat such statements are made. Pulse does not update forward-looking\nstatements should circumstances change or management's assumptions,\nexpectations or estimates change.\n\n\n\n","length":2144,"tagName":"div"}]