EDMONTON, ALBERTA--(Marketwire - Nov. 22, 2011) - Wavefront Technology Solutions Inc. ("Wavefront" or the "Corporation") (TSX VENTURE:WEE), the leader in fluid injection optimization for maximizing reservoir oil recovery, is pleased to announce that it has engaged Casimir Capital L.P. of New York, New York to act as the Corporation's Principal American Liaison, responsible for providing guidance on OTCQX requirements, in connection with the Corporation's planned listing on the International OTCQX.
OTC Markets Group Inc. provides the inter-dealer electronic quotation and trading system in the over-the-counter ("OTC") securities market. OTCQX is the premier tier of the OTC market, and offers international companies a visible presence in the United States of America ("U.S."), without the duplicative regulatory burdens of a traditional U.S. exchange listing. The International OTCQX is not a stock exchange, stock market or regulated market. International OTCQX is comprised of a community of public issuers with sound operating businesses that have agreed with Pink OTC Markets and each other to provide accurate, timely and reliable information to U.S. investors. The Corporation's planned application to the International OTCQX is by no means assured, and all required listing requirements must first be met before a listing may be granted. Wavefront's shares will continue to trade and will remain listed on the TSX Venture Exchange in Canada under the symbol "WEE".
Wavefront President and CEO Brett Davidson commented: "we hope that the planned OTCQX listing will assist in the liquidity for our U.S. shareholders and provide Wavefront more exposure to U.S. investors, while Wavefront continues its commercial progress."
In connection with the current trading activity and price increase, management is not aware of any other material undisclosed information.
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 the Corporation'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. Examples of such forward-looking statements in this news release include, but are not limited to, expectations as to the planned listing of the Corporation on the OTCQX and that such listing if achieved will bring greater liquidity to U.S. investors. 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 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 conditions and general economic, market or business 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.