TSX: PSD
OTCQX: PLSDF
CALGARY,
Dec. 16, 2015 /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 3,509,326
common shares (representing 10% of the public float of 35,093,268
common shares as at December 15,
2015). 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 21, 2015 through December 20, 2016. As of December 15, 2015, there were 55,606,589 common
shares issued and outstanding.
The Company's purchase of shares during any
trading day will not exceed 5,134 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 17, 2014 through December 16, 2015, Pulse purchased 1,906,500
common shares under the normal course issuer bid at a weighted
average price of $2.55 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 28,600 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.