/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN
BURNABY, BC, March 28 /CNW/ - TIO Networks Corp. (TSX Venture: TNC) (the
"Corporation") wishes to announce that it has agreed to increase the
previously announced underwritten private placement with a syndicate of
underwriters led by PI Financial Corp. and including GMP Securities L.P. (the
"Underwriters"). The "bought deal" will now be for 4,670,000 units of the
Corporation (the "Units") to raise $3,502,500 (the "Offering"). The
Corporation has granted the Underwriters an over-allotment option, exercisable
prior to the closing of the Offering, to offer up to an additional
400,000 Units on a commercially reasonable efforts basis. Including the
over-allotment option, total gross proceeds will now be up to $3,802,500.
All other terms of the Offering will remain the same as press release
March 28, 2008.
This news release does not constitute an offer to sell or a solicitation
of an offer to sell 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 (the "U.S. Securities Act") or any state securities
laws and may not be offered or sold within the United States or to U.S.
Persons unless registered under the U.S. Securities Act and applicable state
securities laws or an exemption from such registration is available.
About TIO Networks Corp.
TIO Networks Corp. powers the "Walk Up Financial Services" marketplace
with thousands of leading edge automated self-service and clerk assisted
solutions. TIO owns the largest and most convenient national network of cash
accepting ATMs for bill payment and prepaid services for the 'cash preferred'
consumer marketplace in North America. TIO symbolizes fast, convenient, safe
and secure access to key financial services. For more information, please
Neither the TSX Venture Exchange nor any other regulatory body has
reviewed and therefore does not accept responsibility for the adequacy or
accuracy of this release.
For further information:
For further information: Derek Lai, Acting Chief Financial Officer - TIO
Networks, Tel: (604) 298-4636, ext. 269, Toll Free: 1-888-679-3322, Email:
derek.lai@TIOnetworks.com; John Lewis, Business Development - TIO Networks,
Tel: (416) 364-2266, Toll Free: 1-877-600-6001, Email: