VANCOUVER, British Columbia, Nov. 02, 2026 (GLOBE NEWSWIRE) — Pulse Oil Corp. (“Pulse” or the “Corporation”) (TSXV: PUL) announces that it intends to complete a consolidation (the “Consolidation”) of its issued and outstanding common shares (the “Common Shares”) on the basis of one (1) post-Consolidation Common Share for every twenty (20) pre-Consolidation Common Shares.
Fractional Common Shares will not be issued in connection with the Consolidation. Any fractional interest that is equal to or greater than 0.5 will be rounded up, and any fractional interest that is less than 0.5 will be rounded down to the nearest whole number of post-Consolidation Common Shares.
The Corporation intends to undertake the Consolidation as it believes doing so may improve the liquidity and marketability of the Common Shares, which may be difficult to trade under the Corporation’s existing share structure, and thereby enhance the Corporation’s attractiveness to investors in any potential future financings involving the issuance of Common Shares.
The Consolidation is subject to approval by the shareholders of the Corporation (the “Shareholders”). Accordingly, Shareholders will be asked at the annual general and special meeting of the Shareholders to be held on November 27, 2026 at 1:00 p.m. (Vancouver time) to approve the Consolidation. The Consolidation is also subject to approval by the TSX Venture Exchange (the “TSXV”).
The name of the Corporation will not be changed in conjunction with the Consolidation.
If the Shareholders and the TSXV approve the Consolidation, the currently issued and outstanding 623,465,656 Common Shares will be consolidated into approximately 31,173,283 Common Shares, subject to the rounding of any fractional post-Consolidation Common Shares. Notwithstanding any approval of the Shareholders to the Consolidation, the board of directors of the Corporation may, without further action on the part of the Shareholders, determine not to implement the Consolidation.
The Corporation currently has no plans to undertake a financing or other capital-raising transaction in connection with, or immediately following, the Consolidation.
If approved, the Corporation will issue a further news release announcing the effective date of the Consolidation and the new CUSIP/ISIN numbers for the post-Consolidation Common Shares, if applicable.
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 completion of the Consolidation. 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, the anticipated effect of the Consolidation on the market price of the Common Shares and receipt by the Corporation of approval of the Shareholders and the TSXV to the Consolidation.
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: Shareholder and TSXV approval of the Consolidation may not be obtained; the Consolidation may not be completed on the terms currently contemplated or at all; general business, commodity prices, economic, competitive, political and social uncertainties; general capital market conditions and market prices for securities; 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.ca. 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 Corporation 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 asset retirement obligations are just $2.9 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
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