Nick Tsimidis

Vincenzo Abate

April 12, 2016 15:24 ET

Acquisition of Common Shares of Miles Technology Inc.

TORONTO, ONTARIO--(Marketwired - April 12, 2016) - Further to the press release dated March 3, 2016, pursuant to share purchase agreements dated March 1, 2016 (the "SPAs") with AireSurf Networks Holdings Inc. ("AireSurf"), an existing shareholder of Miles Technology Inc. (the "Company"), each of Nick Tsimidis and Vincenzo Abate have exercised their respective rights under the SPAs and acquired an aggregate of 725,000 common shares of the Company ("Miles Shares") effective April 11, 2016.

Nick Tsimidis acquired indirect ownership of 350,000 Miles Shares, representing 12.5% of the outstanding Miles Shares, through the purchase of Miles Shares by SGMM Investments Ltd., a company controlled by Mr. Tsimidis. Vincenzo Abate acquired direct ownership of 375,000 Miles Shares, representing an additional 13.4% of the outstanding Miles Shares, and in addition Paolo Abate, pursuant to the acquisition by Vincenzo Abate, acquired shared control and direction over such 375,000 Miles Shares.

For further information on this press release, the press release dated April 12, 2016, or to obtain a copy of the early warning reports dated March 2, 2016, please contact the following:

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