TSX Symbol - (TSX:PSD)
CALGARY, May 15 /CNW/ - Pulse Data Inc. ("Pulse" or the "Company") is
pleased to announce that it has signed a Letter of Intent to sell its wholly
owned subsidiary, Trango Technologies Inc. to a large and diverse
multinational corporation. Ken MacDonald, President and CEO of Pulse stated,
"We believe this disposition will be a very good situation for Trango, and
will allow an accelerated deployment of its products and technologies on a
worldwide basis."
The transaction is conditional upon certain conditions, including the
approval of the purchaser's board of directors, the completion of a due
diligence review by the purchaser, and the negotiation and execution of a
formal purchase and sale agreement. The transaction is expected to close by
June 30, 2006.
Pulse is a Calgary-based international company specializing in data
ownership through acquisition, marketing and information management, with a
current focus on the energy sector. Through its three operating segments,
Pulse Seismic, Terrapoint and Trango, the Company has evolved into an industry
leader in providing better information faster.
Pulse trades on the Toronto Stock Exchange under the symbol PSD.
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 for the year ended December 31, 2005
and the interim periods for 2006 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.
