CALGARY, ALBERTA--(Marketwire - Dec. 27, 2012) -
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
Times Three Wireless Inc. (TSX VENTURE:TTW) ("Times Three" or the "Company") provides an update concerning its previously announced fully marketed private placement (the "Offering") of units ("Units") of the Company, at a price of $0.09 per Unit. As was announced on November 12, 2012, each Unit shall consist of one common share (a "Common Share") of the Company and one Common Share purchase warrant (a "Warrant"). Each Warrant will entitle the holder to acquire one Common Share at an exercise price of $0.13 per Common Share at any time up to 2 years from the date of the closing of the Offering.
The Company has now decided to conclude the Offering for reduced gross proceeds of approximately $1.5 million. It is anticipated that the Offering will close, in one or more closings, beginning on or about December 28, 2012.
The Offering is subject to the approval of the TSX Venture Exchange.
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS:
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 of closing of the Offering. With respect to forward-looking statements contained in this news release, Times Three has made assumptions regarding, among other things, the closing date of the Offering. 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, that the Company may not be successful in finalizing the terms of the private placement financing and closing such placement and 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.