Wavefront Technology Solutions Inc. announced that the Company's USA subsidiary executed a General Services Agreement (the "Agreement") with a Texas-based company (the "Client"). Under the terms of the Agreement, effective November 1, 2021, the Client and Wavefront have agreed to a minimum guaranteed aggregate amount of USD 10 Million over a five-year term where the Company will, upon request from the Client, provide certain well stimulation tools and field services (the "Services") at various oil and gas production locations throughout the intercontinental United States of America. Wavefront will invoice the Client USD 500,000 ("Quarterly Guaranteed Minimum"), or any prorated portion thereof, during each of the Company's fiscal quarters over the term of the Agreement. Any Services work more than the Quarterly Guaranteed Minimum would be invoiced above the Quarterly Guaranteed Minimum and recognized as revenue using the percentage of completion method, which is based on the term of the tool rental and Services. In the prior reporting fiscal year, the Company entered into a similar agreement with the same Client. Due to unforeseen circumstances beyond the Company's control Wavefront, to this point in time, has not been able to recognize any revenues related to that prior agreement. As a result, the Company will account for revenues related to the new Agreement on a cash basis.