Mr. Richard Ryan reports

MATRRIX PROVIDES OPERATIONS UPDATE AND ANNOUNCES GRANT OF STOCK OPTIONS

Matrrix Energy Technologies Inc. has provided an operations update and has granted stock options to certain directors, officers and employees.

Operations update

Current oil and gas commodity price weakness continues to create uncertainty regarding capital expenditures for oil and gas clients in Western Canada, the corporation's primary operating area. With this uncertainty, the severity and the length of the downturn in client activity levels are difficult to predict. The corporation anticipates materially lower activity levels in the first quarter of 2015 compared with the same period in 2014 and compared with the last quarter of 2014.

As a result, the corporation remains committed to its previously announced minimal capital expenditure budget for 2015, which the corporation believes reflects a prudent use of its capital while ensuring sufficient financial flexibility in the event of a prolonged downturn in industry activity levels.

Matrrix will continuously evaluate the needs of its clients and its operations, and will adjust capital budgets as required to meet client needs and activity levels.

Matrrix has reduced costs through adjustments to staffing levels and wages in the office and field, consolidated offices and facilities where practical, and reduced costs through analysis and negotiation with current and prospective vendors.

The corporation remains committed to its program of innovative technology initiatives core to exceptional service delivery for its clients, while providing field data quality and efficiency improvements to clients and the corporation.

The corporation has a strong working capital position and no debt.

Appointment of interim chief financial officer

Matrrix is pleased to announce the appointment of Jeff Schab as the corporation's interim CFO. Mr. Schab, a certified accountant, previously held the role of manager, financial reporting and tax, with the corporation.

Grant of stock options

The corporation announces that it has granted a total of 492,000 stock options to certain directors, officers and employees, pursuant to the corporation's incentive stock option plan, at an exercise price of 36 cents per share, being the closing price of Matrrix stock on Friday, Feb. 27, 2015. All options are subject to vesting as to one-third one year from the date of grant, one-third two years from the date of grant and the remaining third three years from the date of grant. Once vested, the options can be exercised, and have an expiration date that is one year from the date of vesting. The grant of options is subject to applicable stock exchange and regulatory approvals.

We seek Safe Harbor.