Wavefront AGM Results & Option Issuance
23 February 2013 - 9:41AM
OTC Markets
WAVEFRONT ANNOUNCES AGM RESULTS
EDMONTON, Alta., February 22, 2013
Wavefront Technology Solutions Inc. (“Wavefront” or the “Company”,
TSX-V: WEE; OTCQX: WFTSF) a developer of leading-edge technology
for fluid injection optimization for improved performance and
profitability in the oil and gas and environmental sectors is
pleased to announce the re-election of Brett Davidson, D. Brad
Paterson, Dennis Minano, Steven Percy and Roger Kazanowski as
directors and the election of Mark Bernard as a new member of the
board of directors.
Wavefront would like to thank two former directors, Jeff Saponja
and John Zahary, who did not stand for re-election for their
contributions to the Company.
Wavefront would also like to
announce that all resolutions put forward in the proxy at the
annual and special shareholder meeting of Wavefront were passed by
shareholders, including confirmation of Wavefront’s existing
shareholder rights plan, first approved by shareholders in 2010 and
the amendment of Wavefront’s by-laws to include advance notice
provisions, all as described in Wavefront’s information circular
available on SEDAR at www.sedar.com.
The Company also announces that it
will file, in accordance with TSX
Venture Exchange policy, a Summary Form disclosing the granting of
an aggregate of 675,000 incentive stock options to employees and
directors of the Company pursuant to the Wavefront's Stock Option
Plan. Of the 675,000
incentive stock options being issued, 310,000 are being issued to
directors of the Company. The options will be exercisable at $0.38
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.
ON BEHALF OF THE BOARD OF
DIRECTORS
WAVEFRONT TECHNOLOGY SOLUTIONS
INC.
“D. Brad Paterson” (signed)
D. Brad Paterson, CFO & Director
About Wavefront:
“From Bit to Last Drop” Wavefront
endeavors to be recognized as a global leader of fluid injection
technologies that maximize reservoir
recovery, drilling efficiency, 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
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