Tranzeo Wireless Technologies Inc.

Tranzeo Wireless Technologies Inc.

May 26, 2009 09:00 ET

Tranzeo Announces Pricing of Public Offering of Units

PITT MEADOWS, BRITISH COLUMBIA--(Marketwire - May 26, 2009) -


Tranzeo Wireless Technologies Inc. (TSX:TZT) ("Tranzeo") announced today that it has priced its previously announced public offering of units (the "Units"). The Company will issue a minimum of 6,250,000 Units up to a maximum of 10,000,000 Units at a price of $0.40 per Unit, for minimum proceeds of $2,500,000 up to maximum proceeds of $4,000,000 (the "Offering"). Each Unit consists of one common share of Tranzeo and one-half warrant, with each whole warrant exercisable into one common share at a price of $0.65 for a period of 24 months (the "Warrant"). The agent for the Offering is Canaccord Capital Corporation (the "Agent").

The Company will file a final prospectus with the securities regulatory authorities in each of the provinces of Canada, excluding Quebec.

The Company has granted the Agent an over-allotment option exercisable in whole or in part no later than 48 hours prior to the Closing to sell 1,500,000 additional Units to raise proceeds of up to $600,000.

The Company intends to use the net proceeds of the Offering to reduce debt and for general working capital purposes.

These securities have not been registered under the Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States without registration or an applicable exemption from applicable registration requirements in the US. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Tranzeo

Tranzeo Wireless Technologies Inc. (TSX:TZT) leads the wireless broadband industry as a premier manufacturer of high-performance wireless network equipment that allows communities and businesses to communicate without boundaries. Tranzeo's optimum cost effectiveness, premium quality and responsive support have attracted a growing and devoted worldwide following of more than 2,465 dealers and 16 distributors. Tranzeo's full spectrum of point-to-point and point-to-multipoint radios, WiMAX equipment, and mesh network solutions are designed for wireless internet service providers, governments, campuses, military, carriers, enterprise customers, and systems integrators around the globe. Headquartered in British Columbia, Canada, Tranzeo also has offices in San Diego, California and Shannon, Ireland. Visit or phone 1.866.872.6936 for more information.

Tranzeo and the Tranzeo logo are registered trademarks of Tranzeo Wireless Technologies Inc.

Forward Looking Statements

This press release may contain forward-looking statements that involve risks and uncertainties. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, revenues, and other expectations. These statements reflect our current expectations and are subject to a number of risks and uncertainties, including, but not limited to, changes in technology and changes in the wireless data communications market.

The TSX does not accept any responsibility for the adequacy or accuracy of this press release.

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