11:33 AM EST - Divestco Inc. : announced that it entered into a binding letter of intent to divest of its entire 2D and 3D seismic data library to Pulse Seismic Inc., for cash and stock consideration. The transaction is expected to close in September. The deal is for $50 million cash plus 14.28 million Pulse common shares. The cash portion will be financed by a combination of available advances under Pulse's syndicated acquisition credit facility and cash on hand. The Pulse common shares will be distributed by Divestco to its shareholders. Divestco Inc.
shares T.DVT are trading up $0.17 at $0.86.
