Tranzeo Wireless Technologies Inc.

Tranzeo Wireless Technologies Inc.

January 07, 2011 19:00 ET

Tranzeo Wireless Receives Additional Funding

PITT MEADOWS, BRITISH COLUMBIA--(Marketwire - Jan. 7, 2011) - BC-based Tranzeo Wireless Technologies Inc. (TSX:TZT), a premier manufacturer of wireless broadband and WiMAX communication systems, announces that it has completed a private placement of 763,733 common shares with employees, officers and directors of Tranzeo for total proceeds of $305,494. In addition, Mr. James Tocher, Chief Executive Officer of Tranzeo, has agreed to lend $300,000 to Tranzeo for a one year term, which loan has been conditionally approved by the TSX, at standard commercial terms. The proceeds of the private placement and loan will be used to fund the continued growth in the company generated from India and other international markets.

About Tranzeo Wireless Technologies Inc:

Tranzeo Wireless Technologies Inc. (TSX:TZT) leads the wireless broadband industry as a premier manufacturer of high-performance wireless network equipment that allows communities and businesses to communicate without boundaries. Tranzeo's optimum cost effectiveness, premium quality and responsive support have attracted a growing and devoted worldwide following of more than 2,465 dealers and 16 distributors. Tranzeo's full spectrum of point-to-point and point-to-multipoint radios, WiMAX equipment, and mesh network solutions are designed for wireless internet service providers, governments, campuses, military, carriers, enterprise customers, and systems integrators around the globe. Headquartered in British Columbia, Canada, Tranzeo also has offices in San Jose and San Diego, California and Shannon, Ireland. Visit or phone 1.866.872.6936.

Forward-Looking Statements

Certain statements in this Press Release, including statements regarding sales contracts provided above, constitute forward-looking statements or forward-looking information within the meaning of applicable securities laws. These statements are subject to certain assumptions, risks and uncertainties. Readers are cautioned not to place undue reliance on such statements. Actual results, performance, achievements or developments of Tranzeo may differ materially from the results, performance, achievements or developments expressed or implied by such statements. Risk factors that may cause the actual results, performance, achievements or developments of Tranzeo to differ materially from the results, performance, achievements or developments expressed or implied by such statements can be found in the public documents filed by Tranzeo with Canadian securities regulatory authorities, which are available at Tranzeo assumes no obligation to update or revise any forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by law.

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