TIO Networks Reports Third Quarter Revenue Up 63%



    - 27th Consecutive Quarter of Transaction Growth -

    BURNABY, BC, June 24 /CNW/ - TIO Networks Corp. (TSX-V: TNC) today
announced its unaudited third quarter and nine month financial results for the
period ended April 30, 2009.

    
    Quarterly highlights

    1)  Revenue increased by 63% to $5,705,979
    2)  Positive EBITDA(*) of $180,000
    3)  Generated $63,997 in positive cash flow from operations before
        changes in non-cash working capital items.
    4)  Operating expenses reduced by $162,995 vs Q3 fiscal 2008
    5)  New business initiatives with Family Dollar, San Antonio Water, H-E-B
        Grocery and others
    6)  Network transaction endpoints increased to 12,959

    Results for the third quarter and year to date:

                    ---------------------------------------------------------
                     Three months ended April 30  Nine months ended April 30
                    ---------------------------------------------------------
                               2009         2008           2009         2008
    -------------------------------------------------------------------------
    Revenue            $  5,705,979 $  3,508,643   $ 16,033,500 $ 10,211,670
    -------------------------------------------------------------------------
    EBITDA(*)          $    180,000 $   (342,000)  $    567,000 $ (1,700,000)
    -------------------------------------------------------------------------
    Net Income         $   (650,585)$ (1,267,348)  $ (1,687,214)$ (4,564,333)
    -------------------------------------------------------------------------
    Weighted average
     number of
     shares (diluted)    46,106,970   41,090,470     46,106,970   40,657,670
    -------------------------------------------------------------------------
    

    At quarter end, the Company had cash & cash equivalents of $3,121,757.

    "Our base of recurring revenue continues to grow as does our business
development pipeline," said Hamed Shahbazi, Chairman and CEO of TIO Networks.
"We are confident that our current and new business opportunities will
increase transactions and continue to drive strong revenue growth in the
quarters and years ahead."

    Conference Call:

    You are invited to attend a conference call on Wednesday June 24, 2009 at
2:00 pm EST to review the third quarter financial results. The dial-in numbers
are (416) 644-3414 in Toronto, or toll free 1-800-733-7571. Callers should
request the TIO Networks Conference.

    TIO Networks Corp.

    TIO is the leading multi-channel expedited bill payment processor serving
the largest Telecom, Wireless, Cable and Utility bill issuers in North
America. With over 12,900 endpoints to its processing network, TIO symbolizes
fast, convenient and secure access to expedited payment services.

    
    The TSX Venture Exchange has not reviewed this news release and does not
    accept responsibility for its adequacy and accuracy.
    

    This news release contains forward-looking statements that involve risks
and uncertainties, which may cause actual results to differ materially from
the statements made. Potentially, many factors could cause our actual results
to vary materially from those described herein as intended, planned,
anticipated or expected. TIO Networks Corp. does not intend and does not
assume any obligation to update these forward-looking statements.

    (*)EBITDA is not a defined term under Canadian generally accepted
accounting principles, nor does it have a standard, agreed upon meaning.
Accordingly, the Company's EBITDA may not be directly comparable to EBITDA
reported by other issuers. Management had determined EBITDA is a useful
supplemental measure in evaluating the Company's performance as it provides
investors with an indication of cash available for debt service, working
capital needs and capital expenditures. This non-GAAP measure is intended to
provide additional information on the Company's performance and should not be
considered in isolation or as a substitute for measures of performance
prepared in accordance with GAAP.

    %SEDAR: 00010068E




For further information:

For further information: Derek Lai, Acting CFO, TIO Networks, Tel: (604)
298-4636, Ext. 269, Email: Derek.Lai@tionetworks.com; John Lewis, Business
Development, TIO Networks, Tel: (416) 364-2266, 1-877-954-6327, Email:
jrlewis@tionetworks.com


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