Redknee Announces Closing of $75.0 Million Bought Deal Offering

TORONTO, ONTARIO--(Marketwired - March 13, 2014) -

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

Redknee Solutions Inc. (TSX:RKN) (the "Company"), a leading provider of business-critical billing and charging software and solutions for communications service providers, is pleased to announce that it has completed its offering of 12,820,520 common shares (the "Common Shares") of the Company at price of $5.85 per Common Share (the "Offering Price") for aggregate gross proceeds of $75,000,042 (the "Offering").

The Offering was completed on a bought deal basis by a syndicate of underwriters co-led by GMP Securities L.P. and Canaccord Genuity Corp. and including CIBC World Markets Inc., RBC Capital Markets, TD Securities Inc., Cantor Fitzgerald Canada Corporation, Clarus Securities Inc. and Paradigm Capital Inc. (collectively, the "Underwriters").

The Underwriters have an over-allotment option to purchase up to an additional 1,923,078 Common Shares at the Offering Price, exercisable in whole or in part, at any time for a period of 30 days following the closing of the Offering. If this option is exercised in full, an additional $11,250,006 will be raised pursuant to the Offering and the aggregate gross proceeds of the Offering will be $86,250,048.

As previously announced, the Company plans to use the net proceeds from the Offering for working capital and general corporate purposes.

The Common Shares being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. 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 State in which such offer, solicitation or sale would be unlawful.

For more information about the Company and its solutions, please go to www.redknee.com.

Forward-Looking Statements

Certain statements in this document may constitute "forward-looking" statements which involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in this press release, such statements use such words as "may," "will," "expect," "continue," "believe," "plan," "intend," "would," "could," "should," "anticipate" and other similar terminology. Forward-looking statements relate to, among other things, the Offering of Common Shares by the Company, and the use of the net proceeds of the Offering. These statements reflect current assumptions and expectations regarding future events and operating performance and speak only as of the date hereof. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to vary significantly from the results discussed in the forward-looking statements, including, but not limited to, a material adverse change in the affairs of the Company or a development materially adversely affecting the financial markets, and the factors discussed under the "Risk Factors" section of the final prospectus dated March 7, 2014 of the Company and the Company's most recently filed AIF which are available on SEDAR at www.sedar.com and on the Company's web-site at www.redknee.com.

Although the forward-looking statements contained herein are based upon what we believe are reasonable assumptions, we cannot assure investors that our actual results will be consistent with these forward-looking statements. We assume no obligation to update or revise these forward-looking statements to reflect new events or circumstances, except as required by securities law.

About Redknee Solutions Inc.

Redknee is a leading global provider of innovative communication software products, solutions and services. Redknee's award-winning solutions enable service providers to monetize new services, business models and content and to deliver a comprehensive customer experience - through either SaaS or on-premise based solutions. Redknee's revenue and subscriber management platform provides innovative converged billing, charging, customer care, and payments solutions for voice, messaging and data services to over 200 service providers in over 90 countries. Established in 1999, Redknee Solutions Inc. (TSX:RKN) is the parent of the wholly-owned operating subsidiary Redknee Inc. and its various subsidiaries. References to Redknee refer to the combined operations of those entities. For more information about Redknee and its solutions, please go to www.redknee.com.