Tranzeo Wireless Technologies Inc.

Tranzeo Wireless Technologies Inc.

September 22, 2009 20:20 ET

Tranzeo Closes Private Placement of Units

PITT MEADOWS, BRITISH COLUMBIA--(Marketwire - Sept. 22, 2009) -


Tranzeo Wireless Technologies Inc. (TSX:TZT) ("Tranzeo") announces today that it has completed a non-brokered private placement of units (the "Units"). The Company issued 4,078,570 Units at a price of $0.56 per Unit for total gross proceeds of $2,284,000 (the "Private Placement"). Each Unit consists of one common share of Tranzeo and one-half of one share purchase warrant, with each whole warrant exercisable to purchase one common share of Tranzeo at a price of $0.75 per share at any time on or before September 22, 2011.

The Company will use the net proceeds of the Private Placement to reduce debt and for general working capital purposes. "As a result of the financing, our balance sheet will be significantly strengthened," stated Jim Tocher, Tranzeo's President and CEO.

These securities have not and will not been registered under the Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States without registration or an applicable exemption from applicable registration requirements in the US. 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 jurisdiction in which such offer, solicitation or sale would be unlawful.

Tranzeo and the Tranzeo logo are registered trademarks of Tranzeo Wireless Technologies Inc.

For additional details on Tranzeo, please visit

Forward Looking Statements:

This press release may contain forward-looking statements that involve risks and uncertainties. These forward-looking statements relate to, among other things, plans for the use of the net proceeds from the Private Placement. These statements reflect our current expectations and are subject to a number of risks and uncertainties, including, but not limited to, changes in our financial position or operations, changes in technology, and changes in the wireless data communications market.

The TSX does not accept any responsibility for the adequacy or accuracy of this press release.

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