Dobhai Ventures Inc.
TSX VENTURE : DOB.P

March 30, 2010 17:00 ET

Dobhai Ventures Inc.-News Release

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 30, 2010) - Further to its previous announcements relating to its proposed qualifying transaction (the "Qualifying Transaction") with Produced Water Solutions Inc. ("PWS"), Dobhai Ventures Inc. (the "Company") (TSX VENTURE:DOB.P) announces that on March 29, 2010, the Company, PWS and the shareholders of PWS entered into a definitive share purchase agreement ("Share Purchase Agreement") in respect of the Qualifying Transaction.

Pursuant to the terms of the Share Purchase Agreement, and consistent with the terms earlier announced, PWS and the shareholders of PWS have agreed to transfer to the Company all of the issued and outstanding securities of PWS in exchange for 9,333,333 common shares of the Company. The completion of the Qualifying Transaction is subject to a number of conditions, including receipt of all regulatory approvals and the raising of sufficient funds to meet the requirements of the TSX Venture Exchange (the "Exchange"). A copy of the Share Purchase Agreement will be available at www.sedar.com.

As previously disclosed, the Company has submitted a draft filing statement for the Qualifying Transaction with the Exchange. The Company is working to address the comments of the Exchange on the draft filing statement. When approved for filing, a copy of the completed filing statement will be available at www.sedar.com.

The Company does not expect to complete the Qualifying Transaction by the Exchange's deadline of March 31, 2010. As a result, it is anticipated that the Company's shares will be suspended from trading on the Exchange. Trading in the Company's shares has been halted since the announcement of the proposed Qualifying Transaction on August 26, 2009. Pursuant to the policies of the Exchange, if the Company does not complete its Qualifying Transaction within 90 days from the suspension from trading the Company may be transferred to the NEX Board of the Exchange or become de-listed.

FORWARD LOOKING INFORMATION

Certain information in this news release is forward-looking within the meaning of certain securities laws, and is subject to important risks, uncertainties and assumptions. This forward-looking information includes, among other things, information with respect to the Company's beliefs, plans, expectations, anticipations, estimates and intentions, the completion of a public offering of the Company's shares by the Company, the Company's acquisition of PWS in exchange for common shares of the Company pursuant to prospectus and registration exemptions, the execution of a definitive agreement for the Acquisition, and the approval of the proposed Transaction by the TSX Venture Exchange. The words "may", "could", "should", "would", "suspect", "outlook", "believe", "anticipate", "estimate", "expect", "intend", "plan", "target" and similar words and expressions are used to identify forward-looking information. The forward-looking information in this news release describes the Company's expectations as of the date of this news release.

The results or events anticipated or predicted in such forward-looking information may differ materially from actual results or events. Material factors which could cause actual results or events to differ materially from such forward- looking information include, among others, risks arising from general economic conditions and adverse industry events, risks arising from operations generally, reliance on contractual rights such as licences and leases in the conduct of its business, reliance on key personnel, market acceptance of the Company's products and services, the need to protect intellectual property and other proprietary rights, possible failure of the business model or business plan or the inability to implement the business model or business plan as planned, fluctuations in the cost of materials, competition, environmental matters, and insurance or lack thereof.

The Company cautions that the foregoing list of material factors is not exhaustive. When relying on the Company's forward-looking information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company has assumed a certain progression, which may not be realized. It has also assumed that the material factors referred to in the previous paragraph will not cause such forward-looking information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF DOBHAI AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE DOBHAI MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME.

Neither 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.

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