CALGARY, ALBERTA--(Marketwire - Oct. 5, 2012) - Canadian Oilfield Solutions Corp. (the "Corporation") (TSX VENTURE:OTS) is pleased to announce that it has entered into an agreement with Wolverton Securities Ltd. (the "Agent") to raise up to $2,000,000 on a commercially reasonable efforts basis from a private placement of units ("Units") at a price of $0.15 per Unit. Each Unit will consist of one (1) common share ("Common Share") of the Corporation and one-half of one non-transferable share purchase warrant ("Warrant"), with each whole Warrant entitling the holder thereof to purchase one (1) additional Common Share for $0.25 for a period of 36 months. The net proceeds from the private placement will be used for general working capital purposes. The Corporation has also granted the Agent an over-allotment option of 15% of the maximum number of Units sold.

In connection with the private placement, the Corporation will pay the Agent a 6% cash commission, a corporate finance fee and will also issue units ("Agent's Units") representing 10% of the number of Units issued under the private placement, with the Agent's Units having an exercise price of $0.15 and otherwise having identical terms as the terms of the Units. In addition, the Corporation will pay the Agent's expenses in connection with the private placement.

The Units, Agent's Units and underlying securities will be subject to a 4 month hold period from the date of issuance in accordance with applicable securities laws. The terms of the private placement are subject to approval of the TSX Venture Exchange.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state of the United States or any other jurisdiction outside of Canada in which such offer, solicitation or sale would be unlawful. The securities have not been registered under the U.S. Securities Act of c1933, as amended, or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act of 1933 and applicable state securities laws.

Neither the 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.

Contact Information:

Canadian Oilfield Solutions Corp.
Phil D'Angelo
(403) 543-0060
(403) 543-0069 (FAX)

Investor Relations contact:
Working Capital Corporation
Tony Nunziata
(403) 560-7040