Pulse Seismic Inc. Announces Upcoming Board of Director Changes

Rhea-AI Summary

Pulse Seismic Inc. (TSX:PSD, OTCQX:PLSDF) has announced changes to its Board of Directors ahead of the AGM on May 3, 2023. Grant Grimsrud will retire, and the Board thanks him for his five years of service.

Patrick Ward is proposed for election to the Board. With over 40 years in the Canadian oil and gas sector, Mr. Ward is the President and CEO of Aqua Solutions Inc. He previously founded and led Painted Pony Energy Ltd., which was acquired by Canadian Natural Resources Limited in 2020.

Pulse Seismic is a market leader in seismic data acquisition and licensing, boasting the largest licensable seismic data library in Canada, covering approximately 65,310 square kilometers of 3D seismic and 829,207 kilometers of 2D seismic, primarily in the Western Canada Sedimentary Basin.

Positive

• Introduction of Patrick Ward, an experienced leader in the oil and gas industry, to the Board of Directors.
• Pulse Seismic holds the largest licensable seismic data library in Canada, which supports its market position.
• The company has a substantial coverage of the Western Canada Sedimentary Basin, a key area for oil and gas exploration.

Negative

• None.

CALGARY, Alberta, April 05, 2023 (GLOBE NEWSWIRE) -- Pulse Seismic Inc. (TSX:PSD) (OTCQX:PLSDF) (“Pulse” or the “Company”) announces upcoming changes to its Board of Directors.

At the AGM on May 3^rd, 2023, Grant Grimsrud will be retiring from the Pulse Board of Directors. At this time, the Board would like to thank Grant for his contributions to the success of the Company over the past five years.

The Board is also very pleased to announce that Patrick Ward has agreed to stand for election at the AGM. With over 40 years of leadership experience in the Canadian oil and gas industry Mr. Ward, a geologist, is currently the President and CEO and director of Aqua Solutions Inc., a private, green, mid-stream company. He was the founder, President and CEO of Painted Pony Energy Ltd. from 2007 to 2020, when the Corporation was acquired by Canadian Natural Resources Limited.

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 largest licensable seismic data library in Canada, currently consisting of approximately 65,310 square kilometres of 3D seismic and 829,207 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.

For further information, please contact:
Neal Coleman, President and CEO
Or
Pamela Wicks, VP Finance and CFO

Tel.: 403-237-5559
Toll-free: 1-877-460-5559
E-mail: info@pulseseismic.com
Please visit our website at www.pulseseismic.com

PDF available: http://ml.globenewswire.com/Resource/Download/36e7dbae-2775-4f39-b709-efe7ccdbd38d

FAQ

What changes are being made to the Pulse Seismic Board of Directors?

Grant Grimsrud will retire, and Patrick Ward is proposed for election at the AGM on May 3, 2023.

Who is Patrick Ward in relation to Pulse Seismic?

Patrick Ward is nominated for election to the Board and has over 40 years of experience in the oil and gas sector.

What is the significance of Pulse Seismic's data library?

Pulse Seismic owns the largest licensable seismic data library in Canada, crucial for energy sector operations.

When is the AGM for Pulse Seismic scheduled?

The AGM for Pulse Seismic is scheduled for May 3, 2023.