Aqua-Pure Ventures, Inc. Appoints Richard Broderick as President of Fountain Quail Water Management

30-year Industry Veteran Assumes Chairman Position of Fountain Quail’s Recently Launched Joint Venture with Select Energy

CALGARY, Alberta--()--Aqua-Pure Ventures Inc. (“Aqua-Pure” or the “Company”) (TSX: AQE), a premier recycler of oil field and shale gas wastewater, today announced that it has promoted Richard Broderick, a 30 year veteran of the oil and gas exploration industry, to the position of president of its wholly owned subsidiary, Fountain Quail Water Management (“Fountain Quail”). Mr. Broderick replaces Delzon Elenburg, the founder and president of Fountain Quail since its inception in 1999. Mr. Elenburg will remain in senior management with the Company to support the leadership transition and to aid in the company’s continued growth.

Richard Broderick joined Fountain Quail in September 2012 as Vice President Corporate and Business Development, and in September 2013 Mr. Broderick was named chairman of FQS Venture, an exclusive partnership between Fountain Quail and Select Energy Services to address oil and gas wastewater recycling. Prior to joining Fountain Quail, Mr. Broderick’s career spanned 29 years with Schlumberger, one of the world’s leading oilfield services company, where his duties ranged from engineering field work, operations management, sales and marketing to quality and safety assurance. In 2004, Mr. Broderick was promoted into Schlumberger Water Services division as general manager of North America from which he rose to Global Leader Oil and Gas Sector Water Services until his retirement. During his tenure at Schlumberger, he served in several senior capacities, including marketing and technique manager for Schlumberger East Africa/East Mediterranean Geomarket, where he negotiated service programs for BG, BP, Shell, Apache, Repsol and AGIP joint ventures. Prior to that he managed the company’s QHSE (quality, health, safety & environment) staff in the United Kingdom, where he oversaw the implementation of a common HSE management system and competency assurance program across all of Schlumberger’s business lines. Mr. Broderick received a Bachelor of Science in Mechanical Engineering from the University of Connecticut.

Commenting on Mr. Broderick’s appointment, Jake Halldorson, Aqua-Pure’s CEO, said, “Over the last year, we have gained a full appreciation of Richard’s capabilities. His expertise in servicing oil and gas industry leaders has fortified Fountain Quail’s management team and bolstered our progress in penetrating target markets. Richard is a proven leader, a talented engineer and a powerful proponent of our recycling technology. We look forward to Richard’s leadership in further expanding the company’s customer base and technology applications.”

“We have entered a highly productive period for frac water reuse and recycling. Oil and gas production companies have been searching for an economic alternative to the status quo of water procurement and disposal. Over the last 9 to 12 months, the economics have begun to shift favorably toward recycling wastewater,” stated Mr. Broderick. “At Schlumberger I was able to assess a great number of recycling technologies. I was always particularly impressed with Fountain Quail’s evaporator and clarifier technology, which have proven to be a highly effective method for removing contaminants from frac flowback and produced water at or near the well site, enabling a reuse of water that is not only cost efficient, but environmentally preferable. I have never been more eager to head up an effort such as Fountain Quail – long in oil field talent and superlative technology at a time when market trends are decidedly breaking in our favor.”

For more information, please contact: info@aqua-pure.com or:

 
Jacob T. Halldorson         Karim Teja         Yvonne Zappulla
Chief Executive Officer Chief Financial Officer Grannus Financial Advisors, Inc.
(403) 301 4123 ext 27 (403) 301 4123 ext 26 (212) 681-4108
 

About Aqua-Pure Ventures Inc.

Aqua-Pure (www.aqua-pure.com) is the premier recycler of oil field wastewater in North America. The Calgary and Texas based firm has developed and commercialized a cutting-edge, cost effective water recycling technology that transforms wastewater from a liability to an asset. Aqua-Pure's oil and gas wastewater services and technology solutions enhance environmental sustainability through the utilization of patented and proprietary technologies. The Corporation's common shares are listed on the TSX Venture Exchange under the trading symbol "AQE."

About Select Energy Services

Houston-headquartered Select Energy Services, LLC, (Select) is an industry leader in delivering innovative and efficient end-to-end water solutions and well-site services to energy producers through its two business segments WaterOne™ and WellOne™ and its multi-service integrated water solutions package, Fluidity™. With more than 5,000 employees and $1 billion in annualized revenues, Select effectively and safely sources, transports, tests, treats and disposes of water and fluids from well sites within every major North American shale play in an environmentally conscientious manner. For more information, visit www.selectenergyservices.com

Forward-looking Statements:

Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the Company’s future operations. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including: (1) a continued downturn in general economic conditions in North America and internationally, (2) the inherent uncertainties associated with the demand for oil and gas, (3) federal and local government regulations that affect the oil and gas drilling industries (4) the risk that the Company does not execute its business plan, (5) inability to finance operations and growth (6) inability to retain key management and employees, (7) ; an increase in the number of competitors with larger resources, and (8) other factors beyond the Company’s control. These forward-looking statements are made as of the date of this news release and the Company intends to update such forward looking information in the Company's MD&A in the event that actual results differ materially from such forward-looking statements contained herein. Additional information about these and other assumptions, risks and uncertainties are set out in the “Risks and Uncertainties” section in the Company’s MD&A filed with Canadian security regulators.

Neither 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.

Contacts

Aqua-Pure Ventures Inc.
Jacob T. Halldorson, (403) 301 4123 ext 27
Chief Executive Officer
or
Karim Teja, 403-301 4123 ext 26
Chief Financial Officer
or
Grannus Financial Advisors, Inc.
Yvonne Zappulla, 212-681-4108

Contacts

Aqua-Pure Ventures Inc.
Jacob T. Halldorson, (403) 301 4123 ext 27
Chief Executive Officer
or
Karim Teja, 403-301 4123 ext 26
Chief Financial Officer
or
Grannus Financial Advisors, Inc.
Yvonne Zappulla, 212-681-4108