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| PRESS RELEASE |
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WAVEFRONT TECHNOLOGY SOLUTIONS INC. |
For Immediate Release: |
Primawave Cleans Up Contaminated Groundwater Cautionary
Disclaimer – Forward Looking Statements THE TSX VENTURE EXCHANGE NEITHER
APPROVES NOR DISAPPROVES THE CONTENTS OF THIS RELEASE WHICH WAS PREPARED
SOLELY AT THE DISCRETION OF MANAGEMENT
In Four Cities Across North America
EDMONTON, Alta, Sept. 4, 2009 - Wavefront Technology Solutions Inc.
(“Wavefront”), a world leader in providing innovative solutions for
increasing oil field production and enhancing the treatment of contaminated
groundwater, announces that four Primawave injection programs have been
completed in the past ten days.
Primawave was used to inject remedial liquids to clean up contaminated
groundwater resulting from military, industrial, and retail activities in
Salt Lake City, UT, New York City, NY, Montreal, QC, and Edmonton, AB.
“The growing list of Primawave adopters is a testament to the efficiency and
cost savings Primawave brings to the injection of remedial fluids into
difficult subsurface conditions,” said Wavefront President and CEO Brett
Davidson. “Primawave’s approach is less costly and more effective than
conventional approaches, and excels at overcoming challenges posed by varied
soil conditions. We look forward to expanding the network of Primawave
accredited users across the globe.”
Wavefront also announces that it has entered into a financial consulting
agreement with Robertson Walters Investment Capital Corp., based in Toronto,
Canada. Under the agreement Robertson’s will be paid $5,000 per month and
provide a market services program as well as general financial consulting
services. The term of the agreement is initially for a period of 12 months
but may be cancelled with 30 days notice.
In addition, the Company also wishes to announce that it will file, in
accordance with TSX Venture Exchange policy, a Summary Form disclosing the
granting of an aggregate of 245,000 incentive stock options pursuant to the
Wavefront's Stock Option Plan. The stock options are being issued to the six
directors of the Company. The options will be exercisable at a price of
$0.72 per share, or other such other price as allowed by the TSX Venture
Exchange, for a period of five years. In accordance with Wavefront's Stock
Option Plan and Exchange policy, the incentive stock options are subject to
a hold period of 4 months and vesting period of 18 months.
About Wavefront Technology Solutions Inc.
Wavefront specializes in designing and developing leading-edge techniques
for oil well stimulation, improved oil recovery, and environmental
groundwater remediation.
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
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.