Wavefront Technology Solutions Inc.
TSX VENTURE : WEE
OTCQX : WFTSF

Wavefront Technology Solutions Inc.

May 11, 2016 18:22 ET

Wavefront Technology Solutions Inc.: Powerwave Approved as a Well Stimulation Technology in Kuwait

EDMONTON, ALBERTA--(Marketwired - May 11, 2016) - Wavefront Technology Solutions Inc. (Wavefront or the Company) (TSX VENTURE:WEE)(OTCQX:WFTSF) is a technology provider offering fluid delivery processes to oil and gas producers that are widely effective methods for maximizing reserves in Improved/Enhanced Oil Recovery ("IOR/EOR") as well as increasing single well productivity through more effective well stimulation. The Company is very pleased to announce that Powerwave has been approved as a well stimulation technology in the State of Kuwait.

"The approval of Powerwave as a proven stimulation technique represents another significant development in the commercialization of Powerwave in the Middle East. We are very confident Powerwave will continue to bring both superior results and considerable cost savings versus established injection approaches leading to wide spread use," said Wavefront President and CEO Brett Davidson.

"Although there remain challenges ahead prior to commercial-scale market penetration in the State of Kuwait, Management is very optimistic of establishing Powerwave as a technology of choice in a region less susceptible to oil price volatility", said Davidson.

ON BEHALF OF THE BOARD OF DIRECTORS

WAVEFRONT TECHNOLOGY SOLUTIONS INC.

D. Brad Paterson, CFO & Director

About Wavefront:

Wavefront is the world leader in fluid injection technology for custom well stimulation and improved/enhanced oil recovery. 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.

Cautionary Disclaimer - Forward Looking Statement

Certain statements contained herein regarding Wavefront and its operations constitute "forward-looking statements" within the meaning of Canadian securities laws and the United States Private Securities Litigation Reform Act of 1995. All statements that are not historical facts, including without limitation statements regarding future estimates, plans, objectives, assumptions or expectations or future performance, are "forward-looking statements". In some cases, forward-looking statements can be identified by terminology such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "estimate", "predict", "potential", "believe", "continue" or the negative of these terms or other comparable terminology. We caution that such "forward-looking statements" involve known and unknown risks and uncertainties that could cause actual results and future events to differ materially from those anticipated in such statements. Such factors include fluctuations in the acceptance rates of Wavefront's Powerwave and Primawave Processes, demand for products and services, fluctuations in the market for oil and gas related products and services, the ability of Wavefront to attract and maintain key personnel, technology changes, global political and economic conditions, and other factors that were described in further detail in Wavefront's continuous disclosure filings, available on SEDAR at www.sedar.com. Wavefront expressly disclaims any obligation to up-date any "forward-looking statements", other than as required by law.

©2016 Wavefront Technology Solutions Inc. All rights reserved. From Bit To Last Drop™, Powerwave™ and Primawave™ are registered trademarks of Wavefront Technology Solutions Inc.

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.

Contact Information

  • Wavefront Technology Solutions Inc.
    Cora Klein
    780-486-2222 ext. 229

    Wavefront Technology Solutions Inc.
    Brad Paterson
    CFO
    780-486-2222 ext.224
    investor.info@onthewavefront.com