Appulse Corporation

Appulse Corporation

March 28, 2005 16:05 ET

Appulse Corporation Announces the Sale of Certain Assets and Inventory


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: APPULSE CORPORATION

TSX VENTURE SYMBOL: APL

MARCH 28, 2005 - 16:05 ET

Appulse Corporation Announces the Sale of Certain
Assets and Inventory

CALGARY, ALBERTA--(CCNMatthews - March 28, 2005) - Appulse Corporation
(TSX VENTURE:APL) (the "Corporation") announces that its wholly-owned
subsidiary, Naturezo3ne Technologies Inc. ("NTI") has sold to 1152645
Alberta Ltd. certain equipment and related inventories pursuant to an
asset purchase agreement dated February 25, 2005. As full consideration
for the sale of these assets and inventories, 625,000 Common Shares of
the Corporation and 375,000 Common Share purchase warrants of the
Corporation (collectively called the "Appulse Securities"), has been
transferred to the Corporation for cancellation.

Pursuant to an agreement dated April 1,2004, 375,000 Common Shares and
375,000 Common Share Purchase warrants were issued as total
consideration for the purchase of equipment and inventories related to
water purification technology. In addition, 250,000 Common Shares were
issued as total consideration for a license related to the technology.
The Corporation had an option to renew that technology license for three
years. In the opinion of management and the Board of Directors, renewal
of the license would not have been in the best interest of the
Corporation or its Shareholders and all activities related to the water
purification technologies were discontinued. Pursuant to the April 1,
2004 agreement, the vendor was given the first right to reacquire the
equipment and inventories at fair market value in the event that NTI
discontinued operations. As noted, equipment and inventories were
returned to the original operators in exchange for the total number of
Common Shares and Common Share purchase warrants issued related to the
original equipment purchase and the technology license.

Operating losses of the division, including a write-down of goodwill,
will be reflected as a discontinued operation in the Corporation's
accounts as at December 31, 2004.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Appulse Corporation
    Doug Baird
    (403) 236-2883
    or
    Appulse Corporation
    Dennis Schmidt
    (403) 236-2883
    (403) 279-3342 (FAX)
    Email: infocui@centrifuges.net
    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.