Innovative Wireline Solutions Inc.
TSX VENTURE : IWS

December 15, 2010 20:45 ET

Innovative Wireline Solutions Inc. Announces Grant of Options

CALGARY, ALBERTA--(Marketwire - Dec. 15, 2010) - Innovative Wireline Solutions Inc. (the "Corporation") (TSX VENTURE:IWS) announces that pursuant to its Stock Option Plan, it has granted incentive stock options to its directors, officers and certain employees, allowing for the purchase of a total of 2,800,000 common shares at a price of $0.15 per share. These options have a term of 5 years and expire on December 14, 2015.

At the present time the Corporation has 30,308,957 common shares and 2,800,000 stock options (exercisable at $0.15 each) outstanding.

ABOUT INNOVATIVE WIRELINE SOLUTIONS INC.

The Corporation has developed and is building a fleet of unique wireline (slickline) service vehicles (named the "WellRunner"). Having a built-in crane, the WellRunner eliminates the need for a separate picker truck, often required by older conventional wireline trucks. The WellRunner is environmentally friendly, can operate during seasonal road bans and provides full slickline services to depths of up to 6,000 meters. WellRunner customers also benefit from its significant lower operating costs.

Certain information in this press release may constitute forward-looking information. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements.

The Corporation assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Corporation. Additional information identifying risks and uncertainties is contained in the Corporation's filings with the Canadian securities regulators, which filings are available at www.sedar.com.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Innovative Wireline Solutions Inc.
    Cameron Bawol, CA
    Vice President Finance & Chief Financial Officer
    403-718-3886
    cbawol@innovativewireline.com