Sale of TerrapointToasted deal.
Pulse Data announces termination of letter of intent to sell Terrapoint business unit
CALGARY, Dec. 9, 2007 (Canada NewsWire via COMTEX News Network) --
TSX: PSD
Pulse Data Inc. ("Pulse" or the "Company") announces that the purchaser under the non-binding letter of intent previously announced in Pulse's news releases on October 30 and November 16, 2007 has elected not to proceed with the acquisition of Pulse's Terrapoint business unit.
Pulse and its financial advisors, Dundee Securities, will continue to review strategic alternatives for the Terrapoint business unit.
The Board of Directors and management of Pulse remain committed to a business plan focused solely on the continued growth of Pulse's seismic data library.
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 laws.
SOURCE: Pulse Data Inc.