Cdn Oilfield Technologies & Solutions Corp. Announces Private Placement- $2,000,000

Cdn Oilfield Technologies & Solutions Corp. announced that it has secured $2,000,000 under the first closing of its previously announced non-brokered private placement of debentures (Debentures). The Debentures will bear interest at a rate of 12% per annum payable on a semi-annual basis and will be for a term of 1 year. The Corporation shall be entitled to prepay the outstanding indebtedness under the Debentures, without any penalty, at any time after 6 months from the date of issuance of the Debentures. The Debentures will be secured against the assets of the Corporation, but will otherwise be subordinated to the outstanding 12% debentures of the Corporation in the principal amount of $500,000 maturing on November 16, 2012 and will also be subordinated to any future financing obtained by the Corporation from a conventional lender, such as a chartered bank. The net proceeds from the Debentures will be used for general working and expansion capital purposes. The Corporation issued 2,000,000 warrants under the first closing with each warrant entitling the holders of the Debentures to purchase one (1) common share of the Corporation at a purchase price of $0.15 for a period of twelve (12) months. The Debentures and the common shares issuable under the warrants will be subject to a 4 month hold period under applicable securities laws.