Canadian Oilfield Solutions Corp.: Non-Brokered Financing - $1,000,000

CALGARY, ALBERTA--(Marketwire - Oct. 11, 2012) - Canadian Oilfield Solutions Corp. (the "Corporation") (TSX VENTURE:OTS) is pleased to announce that, in conjunction with the brokered private placement of units to secure up to $2,000,000 announced on October 5, 2012, the Corporation also intends to raise up to an additional $1,000,000 under a non-brokered private placement (the "Financing") of units ("Units") at an issuance price of $0.15 per Unit. The units under both the brokered and non-brokered private placements contain identical terms and 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 Financing will be used for general working capital purposes.

In connection with the Financing, the Corporation will pay certain parties that assist in completing the Financing a 6% cash finder's fee and will also issue units ("Finder's Units") representing 10% of the number of Units issued under the Financing. The Finder's Units have an exercise price of $0.15 and otherwise have identical terms as the terms of the Units.

The Units, Finder's 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 terms of the Financing 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.