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| PRESS RELEASE |
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WAVEFRONT ENERGY & ENVIRONMENTAL SERVICES
INC. |
For Immediate Release: |
Warrant Exercise Notice (Triggering Event)
EDMONTON, Alta March 3, 2008/ Wavefront Energy and Environmental Services
Inc. (“Wavefront”), a leader in technology development and implementation
for improved oil recovery and optimized groundwater remediation wishes to
announce that a common share purchase warrant Triggering Event has occurred
in relation to the 2,492,838 common share purchase warrants issued by the
Company on December 24, 2007 and the 4,820,526 common share purchase
warrants issued by the Company on January 31, 2008 (collectively the
“Warrants”).
The Triggering Event, resulting from 20 day volume weighted average closing
price of the common shares of the Company, as traded on the TSX Venture
Exchange exceeding $1.50 per common share has been amended to 30 days from
the date after such notice. The expiry date is no longer December 24, 2008
and January 2009, respectively. The expiry date of the Warrants is now April
3, 2008. Warrants not exercised before April 3, 2008, will expire. The
Warrants affected by the Triggering Event relate to the Private Placements
which closed on December 24, 2007 and January 31, 2008 (see news release
dated December 24, 2007 and January 31, 2008).
About Wavefront Energy and Environmental Services Inc.
Wavefront is a technology-based company with a focused, strategic plan to
leverage the value of our intellectual property in order to maximize oil
production recovery operations, as well as provide additional solutions for
environmental applications.
For further information please contact:
Brad Paterson, CFO
780-486-2222 ext. 224 Tel
investor.info@onthewavefront.com
On behalf of the Board Of Directors, Wavefront Energy & Environmental
Services Inc.
“D. Brad Paterson” (signed)
D. Brad Paterson, CFO and Director
Cautionary Disclaimer –
Forward Looking Statements
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’’,
‘‘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.
THE TSX VENTURE EXCHANGE NEITHER APPROVES NOR DISAPPROVES THE CONTENTS OF THIS RELEASE WHICH WAS PREPARED SOLELY AT THE DISCRETION OF MANAGEMENT