Appulse Corporation Announces Results from Special Meeting of Shareholders

CALGARY, AB / ACCESSWIRE / October 26, 2023 / Appulse Corporation ("Appulse" or the "Corporation") (TSXV:APL) announces today that the shareholders of the Corporation have approved the arm's length definitive agreement (the "Agreement") with GEA Canada Inc. ("GEA"), pursuant to which Appulse has agreed to sell to GEA and GEA has agreed to purchase all of the issued and outstanding shares of Centrifuges Unlimited Inc. ("CUI") for a base purchase price of $10 million Canadian, subject to customary working capital and net debt adjustments, payable in cash (the "Share Sale"). Full details of the Share Sale were set forth in the Corporation's Management Information Circular dated September 25, 2023, a copy of which filed through SEDAR+ is available for review at www.sedarplus.ca.

11,587,978 votes, or approximately 99.97% of the votes cast at the special meeting (the "Meeting") of Shareholders held October 26, 2023, were cast in favour of the special resolution (the "Share Sale Resolution") approving the Agreement.

The Share Sale constitutes a sale of all or substantially all of the property of the Corporation under Section 190(1) of the ABCA. Accordingly, in order to be effective, the Share Sale Resolution was required to have been approved by not less than two-thirds (66 2/3%) of the votes cast thereon by shareholders present in person or represented by proxy at the Meeting.

The Share Sale remains subject to certain customary approvals and closing conditions. The parties continue to work towards satisfying these conditions and the Share Sale is scheduled to close on November 1, 2023.

About Appulse Corporation

Through its primary subsidiary, CUI, and operating divisions, Appulse specializes in the sales, servicing and refurbishing of centrifuge equipment, serving both domestic and international markets, and offers full service industrial machining. The Corporation continues to expand its product base and geographic markets, in addition to pursuing further representative arrangements and joint venture opportunities.

For further information contact:

Doug Baird, President, or Dennis Schmidt, CFO
Telephone: [phone]
Facsimile: [phone]
Email: [e-mail]

Forward-Looking Statements

This news release contains forward-looking statements relating to the timing and completion of the proposed sale by Appulse to GEA of all of the issued and outstanding shares of CUI, including, among others, forward-looking statements about management's expectations regarding the expected timing of the transaction, and other statements that are not historical facts. Forward-looking statements are often identified by the terms such as "will", "may", "should", "anticipate", "expects" and similar expressions.