Poseidon Concepts Corp. Reviews the December 31, 2012

Poseidon Concepts Corp. Reviews the December 31, 2012 Dividend and
Announces Additional Management Changes 
CALGARY, ALBERTA -- (Marketwire) -- 01/11/13 -- The Board of
Directors of Poseidon Concepts Corp. (TSX:PSN) (the "Company" or
"Poseidon") recognizes that unpaid declared dividends are an
outstanding debt owed to shareholders. The Board intends to pay the
dividend, but has determined to defer the payment that was previously
scheduled for January 15, 2013 to shareholders of record on December
31, 2012, in order to prioritize Poseidon's use of cash and future
cash flow from operations towards strengthening Poseidon's financial
position. Following the independent review of the Special Committee
of the Board of Directors (see Press Release dated December 27,
2012), the Board intends to update shareholders on Poseidon's
intentions regarding timing on payment of the January 15th dividend.  
On January 10, 2013, Mr. Joe Kostelecky has resigned from his role as
Executive Vice President, US Division. Mr. Angus Jenkins, Vice
President, Operations has assumed Mr. Kostelecky's management
responsibilities. 
This news release contains certain forward-looking statements and
other information (collectively "forward-looking information") about
our current expectations, estimates and projections. Forward looking
information is often identified by words such as "anticipate",
"intend", "believe", "expect", "plan", "forecast", "target", "could",
"focus", "vision", "goal", "proposed", "scheduled", "milestone",
"outlook", "potential", "may", "looking forward to", or similar
expressions and includes, but is not necessarily limited to,
suggestions of future outcomes, including statements about the
Special Committee's review and the nature of its recommendations,
Poseidon's dividend policy, the timing and payment of dividends and
Poseidon's use of cash and future cash flow. Readers are cautioned
not to place undue reliance on forward-looking information as our
actual results may differ materially from those expressed or implied
in the forward-looking information. Developing forward-looking
information involves reliance on a number of assumptions and
consideration of certain risks and uncertainties, some of which are
specific to Poseidon and others that apply to the industry generally.
The factors or assumptions on which the forward-looking information
is based include without limitation: the outcome of litigation
involving the Company and assumptions inherent in our current
guidance, including: foreign exchange and interest rates; our
projected capital investment levels; the flexibility of capital
spending plans and the associated source of funding; our ability to
generate sufficient cash flow from operations to meet our current and
future obligations; our expectations of the demand for tank systems
and other product offerings and the general activity of the oil and
gas industry; the ability of Poseidon to continue to pay a dividend;
and other risks and uncertainties described from time to time in the
filings we make with securities regulatory authorities.  
Actual results could differ materially from those currently
anticipated due to a number of factors, risks and uncertainties. Such
risks and uncertainties include, without limitation, risks associated
with the outcome of litigation involving the company, risks
associated with dependence on manufacturers of the Poseidon tank
systems; operating risk liability; demand for Poseidon's tank
systems; levels of competition in the fracturing fluid storage
industry; the ability of Poseidon to attract and retain clientele;
the impact of changes in marketing initiatives; the ability of
Poseidon to fund its ongoing capital requirements; delays resulting
from or inability to obtain required regulatory approvals; the impact
of general economic conditions in Canada, the United States and
globally; industry conditions; changes in laws and regulations
(including the adoption of new environmental laws and regulations)
and changes in how they are interpreted and enforced; the lack of
availability of qualified personnel or management; fluctuations in
foreign exchange or interest rates; and stock market volatility.
Readers are cautioned that the foregoing list of factors is not
exhaustive. All subsequent forward-looking statements, whether
written or oral, attributed to Poseidon or persons acting on its
behalf are expressly qualified in their entirety by these cautionary
statements. Additional information on the foregoing risks and other
factors that could affect Poseidon's operations and financial results
are on file with Canadian securities regulatory authorities and may
be accessed through the SEDAR website (www.sedar.com). Furthermore,
the forward-looking statements contained in this news release are
made as at the date of this news release and Poseidon does not
undertake any obligation to update publicly or to revise any of the
included forward-looking statements, whether as a result of new
information future events or otherwise, except as may be required by
applicable securities laws.
Contacts:
NATIONAL Public Relations
1-800-842-4922 
Poseidon Concepts Corp.
A. Scott Dawson
Interim President and Chief Executive Officer
(403) 206-4999