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Wavefront Announces Annual and Special Meeting and Record Date, and Approval of Advance Notice By-Law

EDMONTON, ALBERTA--(Marketwire - Dec 21, 2012) - Wavefront Technology Solutions Inc. ("Wavefront" or the "Corporation") (TSX VENTURE:WEE) (WFTSF), a developer of leading-edge technology for fluid injection optimization for improved performance and profitability in the oil and gas and environmental sectors announced today that it will hold an annual and special meeting of shareholders (the "AGM") on February 20, 2013. The record date for shareholders entitled to vote at the AGM has been set at January 16, 2013. Wavefront is also pleased to announce the approval by its board of directors (the "Board of Directors") of amendments to the Corporation''s by-laws to include an advance notice provision that requires advance notice to the Corporation in circumstances where nominations of persons for election to the Board of Directors are made by shareholders of the Corporation other than pursuant to: (i) a requisition of a meeting made pursuant to the provisions of the Canada Business Corporations Act, RSC 1985, c C-44, as from time to time amended, (the "Act"), or (ii) a shareholder proposal made pursuant to the provisions of the Act.

Among other things, the by-law amendment fixes a deadline by which shareholders of the Corporation must submit director nominations to the Corporation prior to any annual or special meeting of shareholders and sets forth the information that a shareholder must include in the notice to the Corporation for the notice to be in proper written form.

In the case of an annual meeting of shareholders, notice to the Corporation must be made not less than 30 nor more than 65 days prior to the date of the annual meeting; provided, however, that in the event that the annual meeting is to be held on a date that is less than 50 days after the date on which the first public announcement of the date of the annual meeting was made, notice may be made no later than the close of business on the 10th day following such public announcement.

In the case of a special meeting of shareholders called for the purpose of electing directors, notice to the Corporation must be made not later than the close of business on the 15th day following the day on which the first public announcement of the date of the special meeting was made. 

The amendment to the Corporation''s by-laws to add the advance notice provision is in full force and effect now and will be placed before shareholders at the upcoming AGM of the shareholders of the Corporation for confirmation of ongoing effectiveness. Any director nominations for the AGM must follow the procedures in the advance notice provision and must be received by the Corporation in compliance with the amended bylaws no later than the close of business on January 21, 2013.

The full text of the advance notice provision which outlines the process and information required in making director nominations is available via SEDAR at www.sedar.com or upon request by contacting the Chief Financial Officer of the Corporation at 780-486-2222 or by email at investor.info@onthewavefront.com

ON BEHALF OF THE BOARD OF DIRECTORS

WAVEFRONT TECHNOLOGY SOLUTIONS INC.

D. Brad Paterson, CFO & Director

About Wavefront:

"From Bit to Last Drop" Wavefront endeavors to be recognized as a global leader of fluid injection technologies that maximize reservoir recovery, drilling efficiency, 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

Investors are encouraged to review "Risk Factors" as outlined in Wavefront''s disclosure documents and other regulatory filings, available on the SEDAR website at www.sedar.com. Wavefront expressly disclaims any obligation to up-date any "forward-looking statements", other than as required by law.