Pritchard Capital Partners and Sanders Wealth Management Group Ltd., will be paid a 6% cash finders fee of $153,700 on a portion of the Private Placement.
The net proceeds of the Private Placement are estimated to be approximately $7,880,160, and will be used to support Halliburton Energy Services Inc.'s ("Halliburton") marketing efforts, Wavefront's collaboration efforts with Halliburton for new DeepWave(SM) systems development, the development of mineral right properties to showcase DeepWave(SM) and to initiate the manufacturing of an inventory of DeepWave(SM) systems for a field wide implementation, with the remainder to be set aside for unallocated working capital.
About Wavefront Energy and Environmental Services Inc.
Wavefront develops, markets, and licenses proprietary technologies in the energy and environmental sectors. The Company's patented DeepWave(SM) Technology is a proven and verified fluid flow optimization technique. Within the energy sector the Company's strategy is to license the technology to service providers, provide site licenses to oil producers, and to acquire or earn working interests in mature oilfields. In the environmental sector, DeepWave(SM) is licensed to service providers who implement the technology to reduce long-term liabilities associated with contaminated sites
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