Canadian Oilfield Solutions Corp.: Brokered Private Placement - $2,500,000

CALGARY, ALBERTA--(Marketwire - Oct. 17, 2012) - Canadian Oilfield Solutions Corp. (TSX VENTURE:OTS) (the "Corporation"). Further to the Corporation's press release of October 5, 2012 announcing a brokered private placement to raise up to $2,000,000 on a commercially reasonable efforts basis from a private placement of units ("Units") at a price of $0.15 per Unit, the Corporation is pleased to announce that the over-allotment option granted to Wolverton Securities Ltd. (the "Agent"") has been increased from 15% to 25% of the maximum number of Units sold. The over-allotment option will allow the Agent to raise up to an additional $500,000 under the private placement.

Each Unit will consist of one (1) common share ("Common Share") of the Corporation and one-half of one non-transferable common share purchase warrant ("Warrant"), with each whole Warrant entitling the holder thereof to purchase one (1) additional Common Share for $0.25 for a period of 36 months. The net proceeds from the private placement will be used for general working capital purposes.

The Units and underlying securities will be subject to a 4 month hold period from the date of issuance in accordance with applicable securities laws. The amended terms of the private placement are subject to approval of the TSX Venture Exchange.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state of the United States or any other jurisdiction outside of Canada in which such offer, solicitation or sale would be unlawful. The securities have not been registered under the U.S. Securities Act of c1933, as amended, or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act of 1933 and applicable state securities laws.