TSX: PSD
CALGARY, July 31 /CNW/ - Douglas Cutts, President and CEO of Pulse Data Inc. ("Pulse" or the "Company"), is pleased to announce the closing of the purchase of all of the seismic data owned jointly with Arcis Corporation, as initially announced through press release on June 25, 2007. The purchase price of the transaction is $11.1 million in cash and was financed by the completed bought-deal financing announced by press release on July 27, 2007. The effective date of this transaction is July 31, 2007.
The seismic data being purchased is located primarily in the Buick-Beatton and Ladyfern areas of northeastern British Columbia and includes 1,388 net square kilometres of 3D seismic data and 65 net kilometres of 2D seismic data.
Pulse also announces that it will release its financial results for the six months ended June 30, 2007 after the close of trading on the Toronto Stock Exchange on Monday, August 13, 2007.
A conference call and webcast to review the quarterly results will take place Tuesday, August 14, 2007 at 1:00 p.m. EDT (11:00 a.m. MDT). Mr. Cutts will chair the call. A question-and-answer period will follow an update on the Company's strategies and outlook.
To participate please dial (416) 644-3425 (Toronto) or 1-800-732-1073, approximately 10 minutes before the commencement of the call in order to avoid delays. A live webcast of the conference call will be available at http://www.newswire.ca/en/webcast/viewEvent.cgi?eventID(equal sign)1962840. An archival recording of the conference call will be available approximately one hour after the completion of the call until August 21, 2007. To access the replay, please dial 1-877-289-8525 or (416) 640-1917 (Toronto) and enter the pass code 21242612 followed by the pound (No.) key.
Pulse is a Calgary-based company specializing in seismic data acquisition, licensing and marketing. With this purchase, Pulse's seismic library will grow to more than 11,100 net square kilometres of 3D seismic data and approximately 257,000 net kilometres of 2D seismic data.
Pulse trades on the Toronto Stock Exchange under the symbol PSD.
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 law.