TSX : PSD
CALGARY, June 20 /CNW/ - Pulse Data Inc. ("Pulse" or the "Company")
announces that it has received from Quantum Yield Inc. ("Quantum") an
unsolicited offer to acquire all of the outstanding shares of Pulse for
$3.05 (Cdn) principal amount of a debenture of Quantum in exchange for each
Pulse had no prior discussions with Quantum and no prior indication that
the offer was being made. Pulse, its directors and its advisers are reviewing
the offer. In terms of initial reaction, the consideration offered by Quantum
appears to be highly unusual and speculative. Upon completion of the proposed
offer, Quantum would have a capital structure consisting of 100% debt and no
equity. In addition, the description of the terms of the Debentures offered by
Quantum is extremely vague and imprecise and have no current liquidity.
Shareholders and investors should carefully consider what value the Quantum
Pulse recommends that its shareholders defer making any decision and not
tender any shares to the offer until the Board of Directors has had an
opportunity to review the offer and make a recommendation as to the merits.
Shareholders will be notified promptly of any recommendations by the Board in
accordance with applicable securities laws.
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 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, except as required by law.
For further information:
For further information: Doug Cutts, President and CEO of Pulse, Tel.:
(403) 237-5559, Toll-free at 1-877-460-5559, E-mail: email@example.com,
Please visit our website at www.pulsedatainc.com