AirIQ Inc.
TSX VENTURE : IQ

AirIQ Inc.

February 26, 2015 17:00 ET

AirIQ Announces Repayment of Outstanding Loan

TORONTO, ONTARIO--(Marketwired - Feb. 26, 2015) - AirIQ Inc. ("AirIQ" or "the Company") (TSX VENTURE:IQ), a supplier of wireless location-based services, today announced that it has repaid the outstanding amount due on its loan to Mosaic Capital Partners LP ("Mosaic").

In December 2013, the Company entered into a credit facility with Mosaic and executed a promissory note in favour of Mosaic in the amount of $100,000. The loan had a maturity date of June 17, 2015 and bore interest at a rate of 15% per annum, calculated daily and payable monthly in arrears. Interest only was payable on the loan on a monthly basis, and the loan was secured by a charge over all of AirIQ's property and assets, subordinate to the Company's bankers.

"The loan was due for repayment in June of this year, but the Board decided to repay it early given the Company's strong fiscal performance to date", said Michael Robb, President and Chief Executive Officer of AirIQ. "There was no penalty associated with prepayment, and the early repayment will allow the Company to save on interest expense and strengthens the Company's balance sheet", continued Mr. Robb,

"We appreciate Mosaic's support and assistance in helping the Company to meet its goals and objectives."

Following this repayment, the Company is no longer indebted to Mosaic, and is now free of all long term debt.

About AirIQ

AirIQ currently trades on the TSX Venture Exchange under the symbol IQ. AirIQ's office is located in Pickering, Ontario, Canada. The Company offers a suite of location based services that generate recurring revenues from each device deployed. AirIQ delivers services to two primary markets: Commercial Fleets and dealers that service Consumer segments. AirIQ provides vehicle owners with the ability to monitor, manage and protect their mobile assets. Services include: instant vehicle locating, boundary notification, automated inventory reports, maintenance reminders, security alerts and vehicle disabling and unauthorized movement alerts. For additional information on AirIQ or its products and services, please visit the Company's website at www.airiq.com.

Forward-looking Statements

This news release contains forward-looking information based on management's best estimates and the current operating environment. These forward-looking statements are related to, but not limited to, AirIQ's operations, anticipated financial performance, business prospects and strategies. Forward-looking information typically contains statements with words such as "hope", "goal", "anticipate", "believe", "expect", "plan" or similar words suggesting future outcomes. These statements are based upon certain material factors or assumptions that were applied in drawing a conclusion or making a forecast or projection as reflected in the forward-looking statements, including AirIQ's perception of historical trends, current conditions and expected future developments as well as other factors management believes are appropriate in the circumstances. Such forward-looking statements are as of the date which such statement is made and are subject to a number of known and unknown risks, uncertainties and other factors, which could cause actual results or events to differ materially from future results expressed, anticipated or implied by such forward-looking statements. Such factors include, but are not limited to, changes in market and competition, technological and competitive developments and potential downturns in economic conditions generally. Therefore, actual outcomes may differ materially from those expressed in such forward-looking statements. Forward-looking statements are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. Other than as may be required by law, AirIQ disclaims any intention or obligation to update or revise any such forward-looking statements, whether as a result of such information, future events or otherwise.

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.

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