WebTech Wireless Inc.
TSX VENTURE : WEW

WebTech Wireless Inc.

April 11, 2006 15:59 ET

WebTech Wireless Inc. Announces Closing of $10 Million Bought Deal Private Placement

BURNABY, BRITISH COLUMBIA--(CCNMatthews - April 11, 2006) -

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED OR INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR PUBLICATION OR DISSEMINATION IN THE UNITED STATES.

WebTech Wireless Inc. (TSX VENTURE:WEW) (the "Corporation") is pleased to announce the closing of the previously-announced bought deal agreement for 4,137,932 special warrants ("Special Warrants") at a price of $1.45 per Special Warrant, plus an underwriters' option exercised in full to purchase an additional 2,758,621 Special Warrants, for total gross proceeds of $10,000,000 (the "Offering"). The syndicate of underwriters was led by Wellington West Capital Markets Inc. and GMP Securities LP. Each Special Warrant is exercisable, at no additional cost, into one common share of the Corporation.

In connection with the Offering, the Corporation will file a short form prospectus in each of the applicable provinces of Canada to qualify for distribution the common shares underlying the Special Warrants. Subject to the issuance of a final receipt for the foregoing prospectus, the Special Warrants (and underlying shares issuable upon exercise thereof) are subject to a four-month hold period in accordance with applicable securities laws and regulations, which will expire on August 11, 2006.

In addition to receiving a cash commission for their services as underwriters under the Offering, the underwriters were issued a number of Special Broker's Warrants (each of which is exercisable into one compensation option (each, a "Compensation Option")) that is equal to 3.0% of the number of Special Warrants sold under the Offering. The transaction is subject to the receipt of final approval from the TSX Venture Exchange. Each Compensation Option is exercisable into one common share of the Corporation at an exercise price of $1.45 per common share for one year. The Compensation Options will be qualified under the prospectus referred to above. Subject to the issuance of a final receipt for the prospectus referred to above, the Special Broker's Warrants (and the Compensation Options and underlying shares issuable upon exercise such Compensation Options) are subject to a four-month hold period in accordance with applicable securities laws and regulations, which will expire on August 11, 2006.

"We are very pleased with this successful bought deal financing," commented Anwar Sukkarie, President and CEO, WebTech Wireless. "The proceeds from this financing will be applied towards ongoing research and development efforts, increasing sales and support, and working capital to fund our continuing growth," continued Mr. Sukkarie.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless an exemption from such registration is available.

About WebTech Wireless Inc.

WebTech Wireless Inc. (TSX VENTURE:WEW) is a global Telematics, location-based services provider that develops, manufactures, and delivers turnkey wireless solutions designed to improve productivity and profitability. WebTech products include wireless hardware and software services running on cellular and satellite networks, and include Automatic Vehicle Location, Mapping, Reporting, Vehicle Maintenance, Driver Status, In-vehicle Telemetry, Messaging, In-vehicle Navigation, and wireless application and Internet connectivity. WebTech is currently providing devices and services worldwide in eight languages to over forty-one countries covering five continents. WebTech's scalable solutions are used by a broad range of small, medium, Fortune 500 companies and governments.

Forward-Looking Statements

This press release contains forward-looking statements involving risks and uncertainties pertaining to, but not limited to product plans, timing, content, and pricing of products, market and industry expectations, the wireless communications industry, the mobile fleet industry, and general economic and political conditions. Given the risks and uncertainties inherent in the markets and industries referred to in this press release, WebTech cannot guarantee that any forward-looking statements will be realized.

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The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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