TSX: PSD
OTCQX: PLSDF
CALGARY, Dec. 15, 2014 /CNW/ - Pulse Seismic Inc.
("Pulse" or "the Company") announces that the Toronto Stock
Exchange (the "TSX") has accepted the Company's Notice of Intention
to purchase through a normal course issuer bid up to 4,282,902
common shares (representing 10% of the public float of 42,829,022
common shares as at December 12,
2014). All shares will be purchased through the facilities
of the TSX or alternative trading platforms and all shares
purchased under the normal course issuer bid will be cancelled. The
duration of the normal course issuer bid will be from December 17, 2014 through December 16, 2015. As of December 12, 2014, there were 57,542,843 common
shares issued and outstanding.
The Company's purchase of shares during any trading day will not
exceed 23,470 common shares (representing 25 percent of the average
daily trading volume of the shares on the TSX during the most
recently completed six calendar months preceding the filing of the
Notice of Intention), subject to Pulse's ability to make block
purchases in accordance with the TSX facilities and rules.
Pulse believes that its common shares may from time to time be
undervalued.
During the period from December 13,
2013 through December 12,
2014, Pulse purchased 1,806,277 common shares under the
normal course issuer bid at a weighted average price of
$3.01 per share.
CORPORATE PROFILE
Pulse is a market leader in the acquisition, marketing and
licensing of 2D and 3D seismic data to the western Canadian energy
sector. Pulse owns the second-largest licensable seismic data
library in Canada, currently
consisting of approximately 28,300 square kilometres of 3D seismic
and 340,000 kilometres of 2D seismic. The library extensively
covers the Western Canada Sedimentary Basin where most of
Canada's oil and natural gas
exploration and development occur.
SOURCE Pulse Seismic Inc.