Divestco Inc.

Divestco Inc.

October 06, 2010 13:56 ET

Divestco Inc.: Clarification of News

CALGARY, ALBERTA--(Marketwire - Oct. 6, 2010) - DIVESTCO INC. (TSX VENTURE:DVT) ("Divestco" or the "Corporation"), announces further to the press release issued at 15:22 EST yesterday (Divestco Announces Cash Dividend Record Date), at the request of IIROC on behalf of the TSX Venture Exchange, Divestco would like to inform shareholders that a new Divestco Class A share is trading on the TSX Venture Exchange under the trading symbol DVT.

As at market open October 6, 2010, buyers of the new class A shares are not entitled to receive 0.3313 shares of Pulse Seismic Inc. The former Divestco Common shares traded on the Toronto Stock Exchange up until the close of October 5, 2010. Purchases of those shares bought and held until the close of October 5, 2010 are entitled to receive one new Divestco Class A share and 0.3313 shares of Pulse Seismic Inc. upon submitting those shares to the transfer agent along with a duly completed letter of transmittal. Registered shareholders must submit the Letter of Transmittal together with the share certificate which was previously sent to them to receive their Divestco Class A shares and the common shares of Pulse Seismic Inc. Shareholders beneficially holding the Divestco Common Shares need not take any action.

Further information on Divestco can be found in its Information Circular dated August 26, 2010 and its TSXV Listing Application dated September 29, 2010, which are filed on SEDAR at www.sedar.com.

About Divestco Inc.

Divestco is an exploration services company that provides a comprehensive and integrated portfolio of data, software, and services to the oil and gas industry. Through continued commitment to align and bundle products and services to generate value for customers, Divestco is creating an unparalleled set of integrated solutions and unique benefits for the marketplace. Divestco's breadth of data, software and services offers customers the ability to access and analyze the information required to make business decisions and to optimize their success in the upstream oil and gas industry. Divestco is headquartered in Calgary, Alberta, Canada and will trade on the TSX Venture Exchange under the symbol "DVT".

Statements in this document that may be considered forward-looking are based on management's current expectations that involve a number of risks and uncertainties, which could cause actual results to differ from those anticipated.

The TSX or TSXV has not reviewed nor accepts responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Divestco Inc.
    Mr. Stephen Popadynetz
    Chief Executive Officer
    Divestco Inc.
    Mr. Roderick Chisholm
    Chief Financial Officer