Wavefront Technology Solutions Inc V.WEE.H

News (again)

[kiet2005]

For Immediate Release WAVEFRONT ANNOUNCES NEW EXCLUSIVE DISTRIBUTION AGREEMENT FOR THE STATE OF KUWAIT EDMONTON, Alta., September 10, 2020 Wavefront Technology Solutions Inc. (Wavefront or the Company; TSX-V: WEE, OTCQB: WFTSF), an oil field service provider focused on offering the oil and gas industry proprietary, leading edge technology is pleased to announce that further to the Companys July 3, 2020 news release that it has renegotiated and entered into a new two-year, exclusive distribution agreement (the, Agreement) in the State of Kuwait with Gulf Drilling and Maintenance Co. (GDMC). Under the terms of the Agreement, GDMC will pay Wavefront a minimum yearly aggregate amount of US $900,000, paid monthly, in arrears for the exclusive rights to the Companys suite of well stimulation technologies for use in the State of Kuwait including the Al Khafji Joint Operations region. Revenues will be recognized proportionately over the annual exclusivity period. Wavefront will continue to provide marketing and technical support. We are very pleased to continue working with GDMC, a well-established Kuwaiti oil field services provider, said Wavefront President and CEO Brett Davidson. Powerwave has a strong and recognizable brand name with engineers of the National Oil Company (NOC) and we look forward to building on GDMCs and Wavefronts reputation for delivering outstanding results. About Wavefront: Wavefront is a technology based, oil field service provider, focused on offering the oil and gas industry proprietary, leading edge technology primarily for oil and gas well stimulation and applications related to IOR/EOR recovery. Wavefront publicly trades on the TSX Venture Exchange under the symbol WEE and on the OTCQB under the symbol WFTSF. The Company's website is www.onthewavefront.com. For further information please contact: D. Brad Paterson, CFO at 780-486-2222 or write to us at [e-mail] 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 Wavefronts 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 Wavefronts 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. 2020 Wavefront Technology Solutions Inc. All rights reserved. From Bit To Last Drop, WaveAxe, Powerwave and Primawave are registered trademarks of Wavefront Technology Solutions Inc., or its subsidiaries, or affiliates. 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. Wavefront Technology Solutions Inc. 5621-70 Street NW Edmonton, Alberta T6B 3P6 Canada Unsubscribe [e-mail] Update Profile | About our service provider Sent by [e-mail] powered by Trusted Email from Constant Contact - Try it FREE today. Try email marketing for free today!

[davewho]

Almost a 1mUS$ a year not bad if it continues beyond the 2 years of the contract. They must like WEE's tech. We could use some good luck here for a change. 

[kiet2005]

The last quarter ended May 31, 2020 ended with net losses totalled $16,562 (or $0.0002 basic and diluted loss per share), can WEE finally turn the tile from red to green for next quarter? Who want to believe !?

[tannin]

I sure want to believe it. Contracts are big deal for co., with 3.5 mill. valuation. Keep the good news coming.