Zedi Amends Q3-2013 Financial Statements for Non-Cash Amortization Expense

Zedi Inc. (the "Company" or "Zedi") (TSX VENTURE:ZED). Today, Zedi filed amended
financial statements as at and for the three and nine months ended September 30,
2013. While completing a systems conversion for capital asset tracking during Q4
of 2013, the Company discovered an error in the amortization of certain
internally generated intangible assets which had resulted in the
under-amortization of those assets over a number of years. While the impact on
any individual reporting period was not considered significant, the cumulative
impact of $1.49 million as of September 30, 2013 was deemed significant enough
to cause the Company to elect to restate the most recent financial statements as
of that date. Management has conducted a complete review of all capital and
internally generated intangible assets and the historical calculation of
depreciation and amortization to ensure that no further adjustments in this
regard will be necessary.


As the error impacts only amortization and deferred tax amounts which are both
non-cash in nature, there was no impact on EBITDA(1) or cash flow results
previously reported.


The restated Q3 financial statements and MD&A are filed on SEDAR and can be
accessed at www.sedar.com or on the Company's website at www.zedi.ca. Note 14 to
the amended financial statements details the impact of the restatement,
including impact on prior periods and comparative amounts. The impact on the
2013 statement of profit and loss is as follows:




----------------------------------------------------------------------------
(all figures,                                                               
 other than per                                                             
 share amounts,                                                             
 are in millions       For the three months         For the nine months     
 of Canadian           ended September 30,          ended September 30,     
 dollars)                      2013                         2013            
----------------------------------------------------------------------------
                           As                           As                  
                   originally   Impact       As originally   Impact       As
                     reported of error restated   reported of error restated
----------------------------------------------------------------------------
Depreciation and                                                            
 Amortization                                                               
 Expense                1,867      203    2,070      5,449      612    6,061
----------------------------------------------------------------------------
Profit prior to                                                             
 Tax                    2,336    (203)    2,133      5,823    (612)    5,211
----------------------------------------------------------------------------
Taxation                  645     (51)      594      1,503    (153)    1,350
----------------------------------------------------------------------------
Profit for the                                                              
 Period                 1,691    (152)    1,539      4,320    (459)    3,861
----------------------------------------------------------------------------
Basic and diluted                                                           
 earnings per                                                               
 share                  $0.02        -    $0.02      $0.04        -    $0.04
----------------------------------------------------------------------------
EBITDA (1)              4,413        -    4,413     11,728        -   11,728
----------------------------------------------------------------------------



Zedi Inc. (TSX VENTURE:ZED) helps the world's oil and gas producers be more
productive, more profitable, and more sustainable through technology backed by
expert consultation and services. Our 60 years of continuous operations in North
America and recognition as one of the industry's best workplaces, sets us apart
in the production operations landscape. With our unique combination of
award-winning automation, data management, and field and professional services,
we offer solutions to our customers' challenges and help them realize their
production potential.


(1) EBITDA is a non-IFRS measure and is defined as earnings (profit) before
interest, taxes, depreciation and amortization and is commonly used by industry
to normalize non-operating factors that are included in net income and as a
proxy for the cash generating potential of a business. See section 9 of the
Management Discussion and Analysis for further detail on both of these metrics. 


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Zedi Inc.
Debra Deane
Investor Relations
403-802-7092
403-444-1101 (FAX)
investor@zedi.ca
www.zedi.ca
Zedi Inc. (TSXV:ZED)
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