Wi2Wi Corp. Announces Closing Shares for Debt Transactions

TORONTO, ON / ACCESSWIRE / November 12, 2015 / Wi2Wi Corporation (TSXV: YTY) (Wi2Wi or the Company) announces that it has completed the previously announced (see Wi2Wi release dated Sept. 30, 2015) shares for debt transactions with LaSalle Capital Group II-A L.P. (LaSalle) and four other creditors.

Pursuant to the shares for debt transactions, the Company has issued 30,570,082 common shares to LaSalle and an aggregate of 5,843,639 common shares to the other creditors. These common shares were issued at a deemed price of CAD 0.1275 per share. The common shares issued by the Company pursuant to these shares for debt transactions are subject to resale restrictions, in accordance with applicable securities legislation and TSX Venture Exchange requirements, until February 29, 2016. The Company’s outstanding common shares increased to 133,027,744.

“With the completion of these transactions, the Company has significantly reduced its debt,” said Zach Mathews, President and Chief Executive Officer. “We are continuing to further strengthen the Company’s balance sheet.”

About Wi2Wi Corporation

Wi2Wi is a vertically-integrated global designer, integrator and manufacturer of wireless technology solutions for a diverse range of premium global markets. The Company’s product suite includes wireless connectivity solutions, frequency control products, as well as RF and microwave filters for avionics; space; military; defense; government; infrastructure; industrial; automotive; medical; communications; mobile-radio; Internet of Things (IoT); personal navigation devices and premium consumer applications.

Strategically located in the USA, the Company’s headquarters, as well as its design and engineering for wireless connectivity and global navigation satellite system (GNSS) solutions, are based in San Jose, CA, in the heart of Silicon Valley. Wi2Wi’s state-of-the-art manufacturing and operations, along with design and engineering for timing devices, frequency control products and RF & microwave filters, are based in Middleton, WI, in North America’s industrial belt. Wi2Wi provides an extensive product range of both “out-of-the-box” and customized solutions, leveraging its technology along with tier-1 global partnerships with industry leading silicon and supply chain companies to serve many of the world’s largest and most innovative companies, including more than 300 “blue chip” customers.

For further information, please contact:

Zachariah Mathews
President and Chief Executive Officer
408 416 4202
zach@wi2wi.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Wi2Wi Corporation

ReleaseID: 433544