Zedi Inc.

Zedi Inc.

September 30, 2011 17:00 ET

Zedi Inc. Continues Consolidation of Canadian Market

CALGARY, ALBERTA--(Marketwire - Sept. 30, 2011) - Zedi Inc. (the "Company" or "Zedi") (TSX VENTURE:ZED) today announces that it has acquired the GlobalEye™ business unit ("GlobalEye") from Global Flow Inc. of Medicine Hat, Alberta. For a cash payment of $1.1 million, Zedi acquires all of the business operations, including intellectual property, of the GlobalEye and WTX products developed by Global Flow.

With over 500 wells being monitored which are comprised of oil, gas, and specialized monitoring solutions, this acquisition represents continued growth in the Canadian market as well as in the overall Zedi Oil portfolio which now includes artificial lift, monitoring and production testing on over 5,000 Oil wells worldwide.

Zedi will move quickly to transition the customer base, of which almost 1/3 will be net new customers, to Zedi Access, Zedi's secure web portal. Zedi will continue to rely on Global Flow to provide field service to the customers, who will now benefit from the excellent service of both Global Flow and Zedi. This transition is anticipated to increase Zedi's recurring revenue by approximately $500,000 per year. In addition, Zedi will further enhance its expansion into oil-based solutions with the addition of the WTX portable test software application and Oil Well Test Database, a subscription-based service that supports production test companies and currently contains over 630,000 test records from thousands of oil wells across North America.

"This acquisition represents yet another accretive deal that involves both technology and a customer base that are a great fit with what we do today at Zedi. It moves us forward on our continuum of increased penetration of the Canadian market and, more importantly, grows our oil portfolio providing a more appropriate mix of oil and gas revenues in response to current and anticipated market conditions," says Matthew Heffernan, President and CEO of Zedi.

Zedi Inc. (TSX VENTURE:ZED) provides integrated services, applications, and technology to oil and gas producers to help efficiently manage their production operations. Having established a leadership position in our base market, we continue to grow globally by operating in 25 countries around the world. Our expertise helps producers increase revenue while reducing operating costs and ensuring regulatory compliance.

Cautionary Statement Regarding Forward-Looking Information

Certain statements and information contained in this press release may constitute forward- looking information within the meaning of applicable Canadian securities legislation. Specifically, this press release contains statements regarding potential levels of revenue from the assets acquired with related expectations of sustainability. These statements are based on certain assumptions and analysis made by Zedi in light of its experience, as well as other factors it believes are appropriate in the circumstances. However, whether actual results, performance or achievements will conform to Zedi's expectations and predictions is subject to a number of known and unknown risks and uncertainties which could cause actual results to differ materially from Zedi's expectations. Consequently, all of the forward-looking information and statements made in this press release are qualified by this cautionary statement and there can be no assurance that the actual results or developments anticipated by Zedi will be realized or, even if substantially realized, that they will have the expected consequences to or effects on Zedi or its business or operations. Except as may be required by law, Zedi assumes no obligation to publicly update any such forward-looking information and statements, whether as a result of new information, future events, or otherwise.

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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