VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 7, 2017) - Pulse Oil Corp. ("Pulse" or the "Company") (TSX VENTURE:PUL) announces that the TSX Venture Exchange has accepted for filing the Company's Qualifying Transaction ("QT") described in its Filing Statement dated February 15, 2017 (the "Filing Statement"). As a result, at the opening on Tuesday, March 7, 2017, the Company will no longer be considered a Capital Pool Company and the Company's shares will resume trading on the TSX Venture Exchange as a Tier 2 Oil and Gas Company under the symbol "PUL".
Pulse also reports that Garth Johnson, Drew Cadenhead, David Sidoo and Devinder Randhawa have filed early warning reports in accordance with National Instrument 62-103. The terms of the acquisition of shares were previously disclosed in Pulse's Filing Statement filed on SEDAR on February 16, 2017.
As a result of the acquisitions of Common Shares of Pulse
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The securities acquired by Messrs. Johnson, Cadenhead, Sidoo and Randhawa are held for investment purposes and are subject to escrow provisions detailed in Pulse's Filing Statement. The individuals named do not have any current intentions to increase or decrease its beneficial ownership of or control or direction over and additional securities of Pulse. The individuals may in the future acquire or dispose of securities of Pulse, through the market or otherwise, as circumstances or market conditions warrant.
For further information on the QT and Pulse disclosures, please refer to the Company's Filing Statement available on SEDAR.
About Pulse Oil Corp.
Pulse is a Canadian company incorporated on September 17, 2012 under the Business Corporation Act of Alberta and has plans to become a leading oil and gas company. Pulse will focus on acquiring affordable, small to medium sized proven oil and gas assets with significant upside. The Company plans to achieve further growth through acquisitions, combined with low-risk, technically diligent drilling, infrastructure ownership and reserve growth utilizing new technology and proven enhanced oil recovery techniques.
Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the Transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release."
This press release contains forward-looking information. More particularly, this press release contains statements concerning the date on which the Company's shares will resume trading, and the Company's business plans. Any information about Pulse contained in the press release has not been independently verified by the Company. Although the Company believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Forward-looking information involves known and unknown risks, uncertainties, assumptions and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. The forward-looking statements contained in this press release are made as of the date hereof and the Company undertakes no obligations to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
This press release does not constitute and the subject matter hereof is not, an offer for sale or a solicitation of an offer to buy, in the United States or to any "U.S Person" (as such term is defined in Regulation S under the U.S. Securities Act of 1933, as amended (the "1933 Act")) of any equity or other securities of Pulse Oil Corp. The securities of Pulse Oil Corp. have not been registered under the 1933 Act and may not be offered or sold in the United States (or to a U.S. Person) absent registration under the 1933 Act or an applicable exemption from the registration requirements of the 1933 Act.