Zedi Inc.
TSX VENTURE : ZED

Zedi Inc.

August 16, 2011 16:01 ET

Zedi Announces Normal Course Issuer Bid

CALGARY, ALBERTA--(Marketwire - Aug. 16, 2011) - Zedi Inc. (the "Company" or "Zedi") (TSX VENTURE:ZED) announces it has received acceptance from the TSX Venture Exchange (the "Exchange") in relation to the filing of a Notice of Intention to Make a Normal Course Issuer Bid to repurchase certain of its issued and outstanding common shares in accordance with the rules and policies of the Exchange. All purchases of common shares will be effected through the facilities of the Exchange and all common shares purchased will be cancelled.

On the filing of the Notice there were 96,646,774 common shares of the Company issued and outstanding. In connection with the normal course issuer bid, the Company may purchase up to 4,832,338 common shares or 5% of the total number of common shares currently outstanding during the period from August 18, 2011 to August 17, 2012. The common share purchases will be made through FirstEnergy Capital Corp.

From time to time, the common shares of the Company may become available for purchase at prices which make them an attractive investment and an appropriate use of the Company's funds. It is anticipated that the purchase of common shares will benefit the remaining shareholders by increasing their equity interest in the Company's assets.

Zedi Inc. (TSX VENTURE:ZED) specializes in the end-to-end management of oil and gas production operations. Zedi arms producers from the field to head office with accurate, timely and centralized data to help them make better business decisions. Using technology to gather highly accurate data from well sites, Zedi automatically moves it through critical work processes including web-based field data capture and production accounting systems. Zedi technology is continually evolving in the control and optimization of wells to ensure maximum production and cost reduction. Established in 1987, Zedi has enhanced the operational performance of more than 800 upstream, midstream and oilfield service customers.

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

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