Pulse Data Inc.
TSX : PSD

Pulse Data Inc.

July 12, 2007 08:09 ET

Pulse Data Inc. Announces Bought Deal $12 Million Financing

CALGARY, ALBERTA--(Marketwire - July 12, 2007) - Mr. Douglas Cutts, President and CEO of Pulse Data Inc. (TSX:PSD)("Pulse" or the "Company") is pleased to announce that it has entered into an agreement to complete a private placement offering of 4,500,000 common shares of Pulse on a bought deal basis at a price of $2.70 per common share for total gross proceeds of $12,150,000 (the "Offering"). The Private Placement is being underwritten by a syndicate of underwriters led by Dundee Securities Corporation, and including Paradigm Capital Inc., Peters & Co. Limited and Fraser Mackenzie Limited (collectively, the "Underwriters").

Pulse has also granted the Underwriters an option, to be exercised prior to closing of this financing, to purchase up to an additional 1,100,000 Common Shares at a price of $2.70 representing additional gross proceeds of $2,970,000 (CDN). In addition, an Over-Allotment Option has been granted to the Underwriters to purchase up to an additional 10% of the Offering at $2.70 per Common Share, exercisable at any time prior to 30 days after the closing of the Offering.

This Offering is subject to customary conditions, including due diligence and regulatory approvals, and is expected to close on or before July 31, 2007.

Pulse intends to use the proceeds of the Offering to finance the previously announced 3D seismic data acquisition of $11.1 million from Arcis Corporation and the 3D seismic participation survey program consisting of a minimum 150 net square kilometres. The announcement of both projects was press released on June 25, 2007.

Pulse is a Calgary-based company specializing in seismic data acquisition, licensing and marketing. With the previously announced purchase of 3D data from Arcis, Pulse's seismic library will grow to more than 11,100 net square kilometres of 3D seismic data and approximately 257,000 net kilometres of 2D seismic data.

Pulse trades on the Toronto Stock Exchange under the symbol PSD.

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, except as required by law.

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