Pulse Seismic Inc. press release
Pulse signs letter of intent to sell Trango Technologies Inc.
TSX - Toronto Stock Exchange ยท Canada
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.