VANCOUVER, British Columbia, June 02, 2025 (GLOBE NEWSWIRE) -- Pulse Oil Corp. (“Pulse” or the "Company”) (TSXV: PUL) announces that TSX Venture Exchange (“TSXV”) has reviewed and accepted Pulse’s reinstatement application and that trading of Pulse’s common shares will be reinstated soon. Prior to Pulse submitting the reinstatement application to TSXV, the British Columbia Securities Commission revoked the previously issued cease trade order (“CTO”).
The Company had a working capital deficit of $55,880 as of December 31, 2024. The Company has been reviewing funding opportunities over the last number of months to address this deficit and management of Pulse expects that the Company will be able to address the deficit in the coming weeks and re-start injection in the Bigoray Enhanced Oil Recovery Program as well.
Pulse Oil Corp. CEO, Garth Johnson commented “We are happy to have our shares trading again soon and we will press forward with our Bigoray EOR program. We will provide an update on the status of funding opportunities and our Bigoray operations shortly.”
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 receipt of funding and resumed solvent injection in the Bigoray EOR program. 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, but are not limited to, access to funding to address Pulse’s working capital deficit and pay for EOR operations and access to market for the Company’s EOR Project solvent supply.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Pulse to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: general business, commodity prices, solvent injection supply, economic, competitive, political and social uncertainties; general capital market conditions and market prices for securities; consistent production and cash flow from current operations, the actual results of future operations; changes in legislation, including environmental legislation, affecting Pulse; the timing and availability of external financing on acceptable terms; and loss of key individuals.
A description of additional 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 $3.1 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
