Wavefront
Complete Pan American Energy Installations
And Issues Board
Options
EDMONTON, Alta., November 14, 2012
Wavefront Technology Solutions Inc. (Wavefront or the Corporation,
TSX-V: WEE; TCQX: WFTSF) wishes to announce that it has completed
the installation Powerwave waterflood tools with Pan American
Energy (PAE) in PAE’s Cerro Dragon field, in Argentina. PAE is the
second largest oil producer in Argentina and is jointly owned by BP
and Bridas Corporation.
The Corporation also announces that
it will file, in accordance with TSX Venture Exchange policy,
a Summary Form disclosing the granting of an aggregate of 75,000
incentive stock options pursuant to the Wavefront's Stock Option
Plan. The stock
options are being issued to a new director of the Company.
The options will be exercisable at $0.41 per share, or other such
other price as allowed by the TSX Venture Exchange, for a period of
five years. In accordance with Wavefront's Stock Option Plan
and Exchange policy, the incentive stock options are subject to a
hold period of 4 months and vesting period of 18 months.
Continuous innovation is at the core
of Wavefront’s technology offerings in the oil and gas and
environmental sectors. The Corporation is pleased to announce that
Alberta Venture Magazine recently named Wavefront one of the 25
Most Innovative Organizations.
ON BEHALF OF THE BOARD OF
DIRECTORS
WAVEFRONT TECHNOLOGY SOLUTIONS
INC.
“D. Brad Paterson” (signed)
D. Brad Paterson, CFO & Director
About Wavefront:
Wavefront is a technology based world leader in fluid
injection technology for improved/enhanced oil recovery and
groundwater restoration. Wavefront publicly trades on the TSX
Venture Exchange under the symbol WEE and on the OTCQX under the
symbol WFTSF. The Company's website is www.onthewavefront.com.
For further information please contact:
Brett Davidson, President and CEO or D. Brad Paterson, CFO
at 780-486-2222 or write to us at investor.info@onthewavefront.com
Cautionary Disclaimer – Forward Looking
Statement
Certain statements contained herein
regarding Wavefront and its operations constitute “forward-looking
statements” within the meaning of Canadian securities laws and the
United States Private Securities Litigation Reform Act of 1995. All
statements that are not historical facts, including without
limitation statements regarding future estimates, plans,
objectives, assumptions or expectations or future performance, are
“forward-looking statements”. In some cases, forward-looking
statements can be identified by terminology such as ‘‘may’’,
‘‘will’’, ‘‘should’’, ‘‘expect’’, ‘‘plan’’, ‘‘anticipate’’,
‘‘believe’’, ‘‘estimate’’, ‘‘predict’’, ‘‘potential’’, “believe”,
‘‘continue’’ or the negative of these terms or other comparable
terminology. We
caution that such “forward-looking statements” involve known and
unknown risks and uncertainties that could cause actual results and
future events to differ materially from those anticipated in such
statements. Such
factors include fluctuations in the acceptance rates of Wavefront’s
Powerwave and Primawave Processes, demand for products and
services, fluctuations in the market for oil and gas related
products and services, the ability of Wavefront to attract and
maintain key personnel, technology changes, global political and
economic conditions, and other factors that were described in
further detail in Wavefront’s continuous disclosure filings,
available on SEDAR at www.sedar.com. Wavefront expressly disclaims any
obligation to up-date any “forward-looking statements”, other than
as required by law.
