Active Investor and Media Outreach to Strengthen Company Awareness
EDMONTON, ALBERTA--(Marketwire - April 2, 2012) - Wavefront Technology Solutions Inc. ("Wavefront" or "the Corporation") (TSX VENTURE:WEE) (OTCQX:WFTSF), the leader in fluid injection optimization for improved performance and profitability in the oil and environmental sectors, has hired IRG, LLC to serve as its US-based investor relations and public relations agency.
IRG's investor relations team will target portfolio managers, analysts, and the retail community to increase investor awareness of Wavefront's patented Powerwave process for enhanced oil recovery, as well as its patented Primawave process for aiding groundwater remediation. Concurrent with that effort, the public relations team will initiate outreach campaigns targeting the media-at-large via traditional, print, television, cable, radio, internet, and social media outlets.
The terms of the engagement require that Wavefront compensate IRG $12,000US per month. The term of engagement is twelve (12) months, but may be terminated by either party with thirty (30) days written notice.
"Wavefront's pulsed injection processes enable global oil producers to potentially add reserve barrels and allow the efficient remediation of contaminated sites," commented Brett Davidson, President and CEO of Wavefront Technology Solutions. "The prize in enhancing recovery rates from existing oil fields is enormous, with a 25% to 200% increase in individual oil well production in the first 4 to 12 months alone. Over the long term, a 5% increase in world oil recovery is projected to yield an additional 300 to 600 billion barrels. We strongly believe that as more oil companies learn about Powerwave, they will be enthusiastic about adopting these processes to maximize the production at new as well as existing fields. As we move forward in 2012 and beyond, we believe that we have a strong story to tell to investors and the media and we look forward to leveraging IRG's experience. We will continue to update our shareholders as we execute on our growth plan."
ON BEHALF OF THE BOARD OF DIRECTORS
WAVEFRONT TECHNOLOGY SOLUTIONS INC.
D. Brad Paterson, CFO & Director
Wavefront is a technology based, world leader in fluid injection technology for improved/enhanced oil recovery and groundwater restoration. 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.
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.