EDMONTON, ALBERTA -- (Marketwired) -- 06/22/16 -- Wavefront Technology Solutions Inc. (Wavefront or the Company) (TSX VENTURE: WEE)(OTCQX: WFTSF) a global leader in the advancement of fluid injection technology for oil and gas well stimulation and improved/enhanced oil recovery is pleased to announce that following a rigorous 18-month vetting process the Powerwave Odyssey custom well stimulation method has been officially approved for use in the Kingdom of Saudi Arabia.
"This latest approval represents the second Powerwave approach to be sanctioned for use in the Kingdom and we are very optimistic that in association with our local distribution channel we will build on the Powerwave name brand leading to commercial-scale market penetration," said Wavefront President and CEO Brett Davidson.
ON BEHALF OF THE BOARD OF DIRECTORS, WAVEFRONT TECHNOLOGY SOLUTIONS INC.
D. Brad Paterson, CFO & Director
About Wavefront:
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.
Contacts:
Wavefront Technology Solutions Inc.
Brad Paterson
CFO
780-486-2222 ext.224
postmaster@onthewavefront.com
www.onthewavefront.com
