CALGARY, Nov. 16 /CNW/ - Pulse Data Inc. ("Pulse" or the "Company")
announces that it has agreed to extend the targeted closing date of the sale
of its Terrapoint business unit to December 31, 2007.
Under the non-binding letter of intent signed on October 29, 2007 and
announced the next day, Pulse agreed to sell Terrapoint as a complete business
unit to a world-class, internationally active engineering firm. The announced
scheduled closing date was November 16, 2007.
Since then the purchaser has formally requested additional time to
complete its due diligence process and to complete other scheduled
Pulse is hopeful that the Terrapoint disposition can close by
December 31, 2007. No issues have arisen to date that would suggest the
transaction cannot be completed, but nor does the letter of intent assure that
the transaction will close.
As this process continues, Terrapoint is examining cost-saving measures
aimed at reducing operating and G&A costs. The potential purchaser is in
agreement with these measures, which would be undertaken irrespective of the
status of the disposition.
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 securities
For further information:
For further information: Douglas Cutts, President and C.E.O., Tel: (403)
237-5559, Toll-free: 1-877-460-5559, E-mail: firstname.lastname@example.org; Please
visit our website at www.pulsedatainc.com