AirIQ Inc.
TSX VENTURE : IQ

AirIQ Inc.

January 26, 2011 16:30 ET

AirIQ Board of Directors Approves Share Consolidation

TORONTO, ONTARIO--(Marketwire - Jan. 26, 2011) - AirIQ Inc. ("AirIQ" or "the Company") (TSX VENTURE:IQ), a supplier of wireless location-based services, today announced that the board of directors of the Company (the "Board") has determined to proceed with the proposed share consolidation previously approved by shareholders at the Company's Annual and Special Meeting of Shareholders held on June 9, 2010. At the meeting, shareholders approved by special resolution the proposed consolidation of the Company's issued and outstanding common shares at any time on or before June 9, 2011 on the basis of a ratio within the range of one (1) post-consolidation share for every ten (10) pre-consolidation shares to one (1) post- consolidation share for every forty (40) pre-consolidation shares, with the ratio to be selected and implemented by the Board in its sole discretion.

The Board has unanimously decided to choose the consolidation ratio of one (1) post-consolidation common share for up to every forty (40) pre-consolidation common shares. The Company's issued capital will be altered by consolidating all of the 174,146,741 currently issued common shares into 4,353,669 common shares (as at the date of this release). The exercise price and the number of common shares issuable under any of the Company's outstanding warrants and stock options will be proportionately adjusted upon consolidation.

No fractional common shares will be issued pursuant to the share consolidation. In lieu of any such fractional securities, each registered shareholder of the Company otherwise entitled to a fractional interest in a post-consolidation common share will receive the nearest whole number of post-consolidation common shares. For greater certainty, any fractional interest representing less than 0.5 of a post- consolidation common share will not entitle the holder thereof to receive a post-consolidation common share, and any fractional interest representing 0.5 or more of a post-consolidation common share will entitle the holder thereof to receive one whole post-consolidation common share. No cash will be paid in lieu of fractional post-consolidation common shares.

The purposes of the consolidation are to enhance the marketability of the Company's common shares as an investment, facilitate additional financings to fund operations in the future, raise the Company's share price to more attractive levels and improve the Company's financial alternatives.

The share consolidation is subject to receipt of approval of the TSX Venture Exchange.

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 the 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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