Tranzeo Wireless Technologies Inc.

Tranzeo Wireless Technologies Inc.

June 18, 2009 08:53 ET

Tranzeo Closes Public Offering of Units

PITT MEADOWS, BRITISH COLUMBIA--(Marketwire - June 18, 2009) -


Tranzeo Wireless Technologies Inc. (TSX:TZT) ("Tranzeo") announces today that it has completed its previously announced public offering of units (the "Units"). The Company issued 7,076,000 Units at a price of $0.40 per Unit for total gross proceeds of $2,830,400 (the "Offering"). Each Unit consists of one common share of Tranzeo ("Share") and one-half warrant, with each whole warrant exercisable into one Share at a price of $0.65 at any time on or before June 18, 2011. The agent for the Offering is Canaccord Capital Corporation (the "Agent").

Tranzeo paid the Agent a cash commission of 7% as well as granted agent warrants equal to 7% of the gross proceeds raised from the Offering. Each agent warrant is exercisable at a price of $0.40 per Share at any time on or before June 18, 2011.

The Company will use the net proceeds of the Offering to reduce debt and for general working capital purposes.

These securities have 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 Offering. 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.

Contact Information