TIO Networks Corp. announces bought deal private placement

    THE U.S./

    BURNABY, BC, March 28 /CNW/ - TIO Networks Corp. (TSX Venture: TNC) (the
"Corporation") wishes to announce that it has entered into an agreement with a
syndicate of underwriters led by PI Financial Corp. and including GMP
Securities L.P. (the "Underwriters"), pursuant to which the Underwriters will
purchase from the Corporation 2,670,000 units of the Corporation (the
"Units"). Each Unit shall consist of one common share and one half of one
common share purchase warrant (each whole such purchase warrant, a "Warrant")
on a "bought deal" basis at a price of $0.75 per Unit for gross proceeds of
$2,002,500 (the "Offering"). Each whole Warrant shall be exercisable into one
additional common share of the Company at an exercise price of $1.00 per
common share for a period of 18 months from the closing date. The Corporation
has granted the Underwriters an over-allotment option, exercisable prior to
the closing of the Offering, to offer up to an additional 2,000,000 Units on a
commercially reasonable efforts basis.
    The proceeds of the Offering will be used by the Corporation for working
capital and general corporate purposes.
    As consideration for acting as underwriters, the Underwriters shall
receive a cash commission equal to 6% of the gross proceeds of the Offering,
payable in cash, in units of the Offering, or in a combination of both, at the
election of the Underwriters. In addition, the Corporation will pay the
Underwriters compensation options ("Compensation Options") equal to 5% of the
aggregate number of Units issued pursuant to the Offering. Each Compensation
Option will entitle the Underwriters to purchase one common share of the
Corporation at an exercise price of $1.00 per common share for a period of 18
months from the date of closing.
    The Offering is anticipated to close on or about April 29, 2008. The
Units will be subject to resale restrictions for a period of four months from
the closing date under applicable securities legislation. Completion of the
private placement will be subject to a number of conditions including the
approval of the TSX Venture Exchange.
    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
visit www.TIOnetworks.com

    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.

    %SEDAR: 00010068E

For further information:

For further information: Behshad Hastibakhsh, Media Relations - TIO
Networks, Tel: (604) 298-4636, Ext. 250, Toll Free: 1-888-679-3322, Email:
pr@TIOnetworks.com; 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:

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