Wavefront Incentive Stock Option Issuance

Newsfile Corp.
·3 min read

Edmonton, Alberta--(Newsfile Corp. - March 1, 2021) - Wavefront Technology Solutions Inc. (TSXV: WEE) (OTCQB: WFTSF) (Wavefront or the Company), an oil field service provider focused on offering the oil and gas industry proprietary, leading edge technology wishes to announce that the Company will file, pursuant to Wavefront's Stock Option Plan and in accordance with TSX Venture Exchange policy, a Summary Form disclosing the granting of an aggregate of 1,000,000 incentive stock options to the Company's five independent directors. Executive Officers of the Company who also serve on the Company's Board waived participation in the stock option issuance. The options will be exercisable at $0.10 per share, or other such other price as allowed by the TSX Venture Exchange, for a period of ten years. In accordance with Wavefront's Stock Option Plan and Exchange policy, the incentive stock options are subject to a hold period of 4 months and a vesting period of 18 months.

ON BEHALF OF THE BOARD OF DIRECTORS

WAVEFRONT TECHNOLOGY SOLUTIONS INC.

"D. Brad Paterson" (signed)

D. Brad Paterson, CFO & Director

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 investor.info@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'', "working towards" 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.

©2021 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/75761