Times Three Wireless Inc.
TSX VENTURE : TTW

Times Three Wireless Inc.

June 10, 2013 07:00 ET

Times Three Wireless Provides Business Update

CALGARY, ALBERTA--(Marketwired - June 10, 2013) -

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Times Three Wireless Inc. (TSX VENTURE:TTW) ("Times Three" or the "Company") today provided a business update for the first five months of 2013.

Licensing

Times Three's licensing team has now completed the first key phase of analysis related to its core patents which were derived from the Company's historical innovations in wireless location technologies.

Claims charts have been developed which the Company believes demonstrate that certain claims in one of the Company's fundamental patents implicate an essential wireless functionality featured in most smartphones, tablet computers and handheld GPS devices now sold in the USA. Based on market research estimates, the Company believes that over 250 million devices enabled by this technology will be sold in 2013 in the US and that the value of the annual US sales of such products is approximately USD$1B.

The licensing team will now continue to work with leading independent technology experts and a top tier US patent litigation firm to further refine its analysis of its core wireless patents. The Company expects to be in a position within the next 30 to 60 days to commence its licensing program based on these patents.

"We are excited to have reached this crucial stage in the development of our core licensing program," said William Middleton, President & CEO of Times Three, adding that, "This is a very positive outcome of the time-consuming and painstaking analysis that is absolutely essential to the creation of any credible and effective licensing initiative."

Network Technology

Times Three's technology licensing program involving its fundamental location and telemetry technologies continues to evolve pursuant to the strategic review process embarked on by the Company beginning in November, 2012. Pursuant to its contractual rights, the Company recently terminated the license agreement with the operator of the network in São Paolo, Brazil. Times Three is currently in discussions with parties in Brazil which could result in the issuance of a new license for network operations in Brazil under contractual terms and a payment structure satisfactory to the Company.

Acquisitions / Strategic Partnerships

In January 2013, Times Three completed one acquisition of a portfolio of three patents issued and pending in the USA and Japan that cover a high-yield, cost-efficient and 'environmentally cleaner' process for the production of half-esters. Half-esters are valuable specialty chemicals used as essential building blocks to create a variety of widely used, high volume consumer and industrial products, including polyesters and other polymeric materials. The Company's licensing team has now initiated communications with two chemical companies in Japan concerning the licensing of these patents and the underlying technology. Working with the inventor and her team, the Company will also continue to investigate the applicability of this portfolio to various chemical-based products.

Times Three is currently involved in negotiations with several technology organizations, including other licensing companies, concerning opportunities to acquire licensable patents and technologies in order to further expand its licensing initiatives, and to thereby increase its prospects to generate future licensing revenue.

Patent & IP Development

The Company has now filed 13 new patent applications arising from Times Three's historical research and development activities. Times Three soon expects to file additional continuing applications in relation to the recently-acquired chemical half-esters portfolio, and also hopes to make additional future filings stemming from ongoing research and development activities being conducted by the inventor.

About Times Three

Times Three, originally founded in 1995 as Cell-Loc Inc., is a technology innovation and licensing company based in Calgary with offices in Toronto, Austin and Dallas. It has a long history of innovation and successful product development in wireless location technologies and continues to build and license its portfolio of important patents and intellectual property. The Company's current portfolio now consists of over 20 issued and pending patents in the USA and Japan.

The Company's proprietary narrow band location and telemetry technology has been successfully implemented in a 1500 square kilometer wireless network in São Paolo, Brazil.

Forward-looking statements are typically identified by words such as "anticipate", "continue", "estimate", "expect", "forecast", "may", "will", "project", "could", "plan", "intend", "should", "believe", "outlook", "potential", "target" and similar words suggesting future events or future performance. In particular, this news release contains, without limitation, forward-looking statements pertaining to the timing to commence a licensing program on the Company's core wireless patents, the possible issuance of a new license respecting networking operations in Brazil and the timing to file additional applications respecting the Company's chemical half-esters patent portfolio. With respect to forward-looking statements contained in this news release, Times Three has made assumptions regarding, among other things, the adoption of the Company's technology and the technology underlying other patents acquired by the Company. Although Times Three believes that the expectations reflected in the forward looking statements contained in this news release, and the assumptions on which such forward-looking statements are made, are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this news release, as there can be no assurance that the plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause Times Three's actual performance and financial results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward- looking statements. These risks and uncertainties include, among other things, the other factors described in Times Three's public filings available in Canada at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

The forward-looking statements contained in this news release speak only as of the date of this news release. Except as expressly required by applicable securities laws, Times Three does not undertake any obligation to publicly update or revise any forward looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

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.

Contact Information

  • Times Three Wireless Inc.
    William Middleton
    CEO
    613.897.3894

    Times Three Wireless Inc.
    David Guebert
    CFO
    403.569.5700