Canadian Oilfield Solutions Corp.: Amendment to Terms of Debenture Offering and Closing of First Tranche

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA.

Canadian Oilfield Solutions Corp. (the "Corporation") (TSX VENTURE:OTS)
announces that it has amended the terms of its previously announced offering of
up to 5,000 units ("Units") at a price of $1,000 per Unit (the "Offering").
Under the new terms of the Offering, each subscriber will receive (i) $1,000
principal amount of non-convertible secured non-transferable subordinated
debentures ("Debentures") and (ii) 500 non-transferable share purchase warrants
("Warrants"). The Debentures mature on December 31, 2014 and will bear interest
at 10% per annum payable quarterly in arrears, and the Corporation may redeem
the Debentures prior to their maturity date without penalty. Each Warrant will
entitle the purchaser to acquire one common share of the Corporation for a
period of 24 months from the date of closing of the Offering at an exercise
price of $0.30 per share.


The Corporation also announces that it has completed the initial closing of the
Offering. At the first closing, the Corporation issued 1,800 Units, for gross
proceeds of $1,800,000, which, after deducting agency commissions, corporate
finance fees and legal and other offering expenses, will result in net proceeds
to the Corporation of approximately $1,550,000. 


The Offering is being led, on a commercially reasonable efforts basis, by
Wolverton Securities Ltd. ("Wolverton"). The Corporation has agreed to pay
Wolverton the following agency fees: a marketing commission equal to 4% of the
gross proceeds of each closing of the Offering; 125,000 common shares of the
Corporation issued on the first closing; and a corporate finance fee paid on the
first closing. The Corporation has also agreed to reimburse Wolverton for its
reasonable expenses incurred in conjunction with the Offering, including the
fees and disbursements of its legal counsel. 


The Corporation anticipates a second closing of the Offering will occur in mid
to late January 2014. In addition, Wolverton may accept subscriptions for
additional Units up to a maximum of 15% of the Offering. 


Net proceeds from the Offering will primarily be used to repay debt and for
working capital for the Corporation's Mexican operations.


Headquartered in Calgary, Alberta, Canadian Oilfield Solutions Corp. provides an
array of specialized products and services that are used in the production of
oil and gas reserves.


This press release shall not constitute an offer to sell or the solicitation of
any offer to buy the securities in any jurisdiction. The Units may be offered or
sold in other eligible foreign jurisdictions and to U.S. buyers on a private
placement basis pursuant to an applicable exemption from registration
requirements in Rule 144-A or Regulation D of the United States Securities Act
of 1933, as amended.


This press release contains forward-looking statements. More particularly, this
press release contains statements concerning the terms of the Offering and the
expected use of proceeds therefrom. The forward-looking statements contained in
this press release are based on certain key expectations and assumptions made by
the Corporation, including, without limitation, expectations and assumptions
concerning the success of future operating activities. Although the Corporation
believes that the expectations and assumptions on which the forward-looking
statements are based are reasonable, undue reliance should not be placed on the
forward-looking statements because the Corporation can give no assurance that
they will prove to be correct. Since forward-looking statements address future
events and conditions, by their very nature they involve inherent risks and
uncertainties. Actual results could differ materially from those currently
anticipated due to a number of factors and risks. These include, but are not
limited to, the failure to obtain necessary regulatory approvals or satisfy the
conditions to closing of the Offering, risks associated with the oil and gas
industry in general, uncertainty as to the availability of labour and services,
commodity price and exchange rate fluctuations, unexpected adverse weather
conditions and changes to existing laws and regulations. Forward-looking
statements are based on estimates and opinions of management of the Corporation
at the time the information is presented. The Corporation may, as considered
necessary in the circumstances, update or revise such forward-looking
statements, whether as a result of new information, future events or otherwise,
but the Corporation undertakes no obligation to update or revise any
forward-looking statements, except as required by applicable 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. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Ken Berg
President and Chief Executive Officer
Canadian Oilfield Solutions Corp.
(403) 543-0060
(403) 543-0069 (FAX)
kberg@cotsoilfield.com


Scott Hamilton
Chief Financial Officer
Canadian Oilfield Solutions Corp.
(403) 543-0060
(403) 543-0069 (FAX)
shamilton@cotsoilfield.com

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