VANCOUVER, British Columbia, May 13, 2025 (GLOBE NEWSWIRE) -- Pulse Oil Corp. (“Pulse” or the "Company”) (TSXV: PUL) announces that TSX Venture Exchange (“TSXV”) has suspended trading in Pulse’s common shares due to a cease trade order (“CTO”) issued by the British Columbia Securities Commission. TSXV has noted that reinstatement to trading can occur only when the CTO is revoked and TSXV has concluded its reinstatement review to ensure the Company has satisfactorily complied with TSXV requirements.
Pulse Oil Corp. CEO, Garth Johnson commented “The CTO was issued due to the Company being late in meeting its year end filing requirements. Our team believes that we will be in a position to get all materials filed in the next week and as a result, we should be able to get the CTO revoked and be back trading again. We will also update shareholders on operational progress in the coming weeks.”
Forward-Looking Statements
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. In this news release, such statements include but are not limited to the expectation of the Company’s management that its annual filings will be made in the next week, leading to the revocation of the CTO and the resumption of trading in Pulse’s common shares. There can be no assurance that such forward-looking information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such forward-looking information.
This forward-looking information reflects Pulse’s current beliefs and is based on information currently available to Pulse and on assumptions Pulse believes are reasonable. These assumptions include that the audit of the Company’s annual financial statements will soon be completed, followed by the revoking of the CTO and re-start trading on the TSXV.
A description of risk factors that may cause actual results to differ materially from forward-looking information can be found in Pulse’s disclosure documents on its profile on the System for Electronic Document Analysis and Retrieval + (SEDAR+) at www.sedarplus.com. Although Pulse has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of Pulse as of the date of this news release and, accordingly, is subject to change after such date. However, Pulse expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.
About Pulse
Pulse is a Canadian company incorporated under the Business Corporations Act (Alberta) that is primarily focused on a 100% working interest in the EOR Project located in West Central Alberta, Canada. The project includes two established Nisku pinnacle reef reservoirs that have been producing sweet light crude oil for over 40 years.
The Company has instituted a proven recovery methodology (NGL solvent injection) to further enhance the ultimate oil recovery from these two proven pools. With under 10 million barrels of oil recovered to date, and representing approximately 30% recovery factor from the pools, Pulse is moving forward to execute the EOR Project and unlock significant value for shareholders. Pulse’s total reclamation liabilities are just $2.96 million which, when compared to many peers in the industry in Western Canada, are very low.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information contact:
Pulse Oil Corp.
Garth Johnson
CEO
604-306-4421
garth@pulseoilcorp.com
