Pulse Seismic Inc. Announces Renewal of Revolving Credit Facility

Ad blocking detected

Thank you for visiting CanadianInsider.com. We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Ultra Club
$432/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads
JOIN THE CLUB

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

Return to homepage

Pulse Seismic Inc. Announces Renewal of Revolving Credit Facility

CALGARY, ALBERTA--(Marketwired - Dec 13, 2016) - Pulse Seismic Inc. ("Pulse" or "the Company") (TSX:PSD)(OTCQX:PLSDF) is pleased to announce that it has extended its revolving credit facility for an additional year. The new maturity date of the facility is February 13, 2020. The facility's available borrowing amount remains at $30.0 million. Up to $5.0 million of the revolving facility continues to be available as an operating line of credit. The credit facility is with a syndicate led by TD Bank and includes ATB Financial and continues to include an accordion feature which allows Pulse to increase the facility's size up to $70.0 million, subject to the consent of the lenders. The accordion incurs no renewal or standby fees.

"We value the ongoing strong support of our lenders," commented Neal Coleman, Pulse's President and CEO. "In January of this year we acquired approximately 107,000 net kilometres of 2D seismic data, thereby increasing our 2D library by over 30%. As a debt free organization, having this undrawn revolving credit facility assists us in the pursuit of additional seismic data acquisition opportunities."

CORPORATE PROFILE

Pulse is a market leader in the acquisition, marketing and licensing of 2D and 3D seismic data to the western Canadian energy sector. Pulse owns the second-largest licensable seismic data library in Canada, currently consisting of approximately 28,600 square kilometres of 3D seismic and 447,000 kilometres of 2D seismic. The library extensively covers the Western Canada Sedimentary Basin where most of Canada's oil and natural gas exploration and development occur.

Pulse Seismic Inc.
Neal Coleman
President and CEO
(403) 237-5559 or 1-877-460-5559
Pulse Seismic Inc.
Pamela Wicks
Vice President Finance and CFO
(403) 237-5559 or 1-877-460-5559
www.pulseseismic.com

Comment On!

140
Upload limit is up to 1mb only
To post messages to your Socail Media account, you must first give authorization from the websites. Select the platform you wish to connect your account to CanadianInsider.com (via Easy Blurb).
LinkedIn
StockTwits
Twitter