Canadian Oilfield Solutions Corp.: Closing of Third and Final Tranche of Debenture Financing

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

Canadian Oilfield Solutions Corp. (the "Corporation") (TSX VENTURE:OTS)
announces that it has completed the third and final closing of its offering (the
"Offering") of units ("Units"). The Offering was led, on a commercially
reasonable efforts basis, by Wolverton Securities Ltd. ("Wolverton"). 


The Corporation previously announced on February 3, 2014 that it had closed the
final tranche of the Offering; however, the Corporation issued today an
additional 597 Units pursuant to the exercise of an over-allotment option
granted by the Corporation to Wolverton, for gross proceeds of $597,000. Each
Unit consists of (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 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 entitles 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 Offering has now been fully subscribed, as the Corporation has issued an
aggregate of 5,750 Units under the Offering, for aggregate gross proceeds of
$5,750,000, which, after deducting agency commissions and legal fees, will
result in net proceeds to the Corporation of approximately $5,315,000. 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, 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: 
Canadian Oilfield Solutions Corp.
Ken Berg
President and Chief Executive Officer
(403) 543-0060
(403) 543-0069 (FAX)
kberg@cotsoilfield.com


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

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