Formation Fluid Management Inc. Announces Appointment of Additional Director and Approval of Capital Budget

Formation Fluid Management Inc. Announces Appointment of Additional Director 
and  Approval of Capital Budget 
FOR: Formation Fluid Management Inc. 
JULY 21, 2014 
Formation Fluid Management Inc. Announces Appointment of Additional Director
and  Approval of Capital Budget 
CALGARY, ALBERTA--(Marketwired - July 21, 2014) - Formation Fluid Management
Inc. (TSX VENTURE:FFM) (the "Company" or "Formation Fluid")
is pleased to announce the appointment of Alan Archibald as a director of the
Mr Archibald is a Professional Engineer and is the CEO of Northpoint Resources
Ltd, a private exploration and production company. Alan has worked in the oil
and gas sector for 32 years both with large major public companies and small
private companies. Mr Archibald is a past chair of the Petroleum Technology
Alliance of Canada (PTAC) and has also served on the board of Canadian Energy
Services LP, High Arctic Energy Services, MEG Energy, Strategem Energy Corp,
Kerogen Petroleum Ltd, and currently is lead director for Mullen Group Ltd.
Alan holds a BSc in Engineering from Dalhousie University and a Bachelor of
Mining Engineering from the Technical University of Nova Scotia. 
"The Company is very pleased to have an individual of Mr. Archibald's
caliber & experience joining our team", said Ken Rose, CEO of
Formation Fluids. "We are confident that Alan will bring tremendous value
and assistance to the Company as we continue to grow."  
With the appointment of Mr. Archibald, the Company's Board will have a
majority of independent directors. Chance Radford will be stepping down as a
director of the Company in order to achieve this goal. Mr. Radford will remain
in his position with the Company as the Chief Operating Officer, continuing
with his valuable contributions to the Company's success and growth. The
Company thanks Mr. Radford for his service as a director. 
The board of directors has approved the grant of 500,000 incentive stock
options (the "Options") pursuant to the Company's shareholder
approved incentive stock option plan (the "Stock Option Plan"). The
Options were granted to Mr. Archibald, will vest immediately and are
exercisable at a price of $0.45 per share until July 17, 2019, subject to the
terms of the Stock Option Plan. The Option grant is subject to TSX Venture
Exchange approval.  
The Company is also pleased to announce that its Board of Directors has
approved a $2.5 million capital budget for the fiscal year ending June 30,
2015. This capital budget will be used to build additional water processing
plants and acquire manufacturing and office equipment for its new office and
shop in Red Deer, Alberta. The Company has leased a 13,000 square foot
combination office and manufacturing facility effective August 1, 2014, which
will house its in-house construction of its proprietary water treatment systems
and corporate offices.  
"Leasing this new facility is a major step in facilitating the growth of
the Company by having all aspects of manufacturing and operations housed in one
location", said Ken Rose, CEO.  
About Formation Fluid  
Formation Fluid Technology has developed a waste water treatment plan that uses
a proprietary process to clean waste water. The system is mobile and can be
scaled to process required volumes. This system treats water to meet or exceed
CCME Guidelines (Canadian Environmental Quality Guidelines), resulting in
reusable water that can be used for: Boilers, Frac Water, Water Floods, and
Drilling Operations. Formation Fluids is seeking to service a significantly
underdeveloped segment within the oil and gas industry; its waste water
treatment system is intended to cost effectively deal with produced water while
satisfying the need to reuse and recycle an increasing valuable resource. For
more information, please visit: or contact Investor
Relations at (403) 887-8874. 
On behalf of the Board of Directors.                                         
"Ken Rose"                                                                  
Chief Executive Officer                                                      
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. 
Certain statements contained in this news release, including references to the
Company's receipt of applicable approvals, may constitute forward-looking
information under applicable Canadian securities legislation. These statements
relate to future events and are prospective in nature. All statements other
than statements of historical fact may constitute forward-looking statements or
contain forward-looking information. Forward-looking statements are often, but
not always, identified by the use of words such as "may",
"will", "project", "predict",
"potential", "plan", "continue",
"estimate", "expect", "targeting",
"intend", "could", "might", "seek",
"anticipate", "should", "believe" or variations
thereof. Forward-looking information may relate to management's future
outlook and anticipated events or results and may include statements or
information regarding the future plans or prospects of the Company.
Forward-looking information is subject to a variety of known and unknown risks,
uncertainties and other factors that could cause actual events or results to
differ from those reflected in the forward-looking statements. The Company
believes that the expectations reflected in the forward-looking statements
contained in this news release are reasonable, but no assurance can be given
that they will prove to be correct. Actual results and future events may differ
materially from those anticipated and accordingly forward-looking statements
should not be unduly relied upon. Forward-looking statements contained in this
document speak only as of the date of this news release. Except as required by
applicable law, the Company disclaims any obligation to update any
forward-looking information. 
Investor Inquiries: 1 (403) 887-8874
E-mail inquiries:
INDUSTRY:  Energy and Utilities - Oil and Gas  
-0- Jul/21/2014 12:00 GMT
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