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Times Three Wireless Inc. (TSX VENTURE:TTW) ("Times Three" or the "Company")
announced today that it has entered into an agreement to purchase several
fundamental patents along with the right to further develop the patent portfolio
by filing additional continuing patent applications. 


Times Three's proposed acquisition currently includes 4 patents issued and
pending in the USA that relate to the essential development platform and tools
widely used to create applications ("apps") for smartphones, tablet computers
and other mobile devices.


The purchase agreement requires the Company, on the closing of the transaction,
to issue to the seller $1.5 million in common shares priced at $0.11 per share
(13,636,364 common shares) and to pay to the seller a minority percentage share
of net licensing proceeds generated by Times Three during the life of the
subject patent portfolio. The Company will also make certain advance revenue
share payments to the seller in the first 12 months after the transaction is
completed.


The obligation of the Company to close the acquisition is subject to, among
other things, its satisfactory completion of further due diligence over the next
40 day period as well as the receipt of all regulatory and third party
approvals, including the approval of the TSX Venture Exchange.


"We are very pleased to enter into an agreement to purchase this foundational
and valuable patent portfolio which relates to a large and rapidly growing
market for mobile device applications, which has been estimated by ABI Research
to be worth US$27 billion in 2013," said William Middleton, Times Three's CEO.


About Times Three

Times Three, originally founded in 1995 as Cell-Loc Inc., is a technology
innovation and licensing company based in Calgary with offices in Toronto,
Austin and Dallas. It has a long history of innovation and successful product
development in wireless location technologies and continues to build and license
its portfolio of important patents and intellectual property. The Company's
current portfolio now consists of over 20 issued and pending patents in the USA
and Japan.


The Company's proprietary narrow band location and telemetry technology has been
successfully implemented in a 1500 square kilometer wireless network in Sao
Paulo, Brazil.


SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS:

Forward-looking statements are typically identified by words such as
"anticipate", "continue", "estimate", "expect", "forecast", "may", "will",
"project", "could", "plan", "intend", "should", "believe", "outlook",
"potential", "target" and similar words suggesting future events or future
performance. In particular, this news release contains, without limitation,
forward-looking statements pertaining to the acquisition of the subject patent
portfolio, the anticipated consideration for the acquisition, the payment of an
ongoing percentage of the net licensing revenues derived from the patent
portfolio, the conditions to the acquisition, including the due diligence period
and the anticipated benefits and opportunities available to the Company as a
result of the acquisition of the patent portfolio. With respect to
forward-looking statements contained in this news release, Times Three has made
assumptions regarding, among other things, the acquisition agreement referred to
herein will not be amended or terminated prior to closing, the parties will be
able to satisfy all conditions to closing, that all third party and regulatory
approvals for the acquisition will be provided in a timely manner, the proposed
patent portfolio is in good standing and not subject to other claims, pending,
threatened or known, and will be verified in the Company's due diligence
process. Although Times Three believes that the expectations reflected in the
forward looking statements contained in this news release, and the assumptions
on which such forward-looking statements are made, are reasonable, there can be
no assurance that such expectations will prove to be correct. Readers are
cautioned not to place undue reliance on forward-looking statements included in
this news release, as there can be no assurance that the plans, intentions or
expectations upon which the forward- looking statements are based

will occur. By their nature, forward-looking statements involve numerous
assumptions, known and unknown risks and uncertainties that contribute to the
possibility that the predictions, forecasts, projections and other
forward-looking statements will not occur, which may cause Times Three's actual
performance and financial results in future periods to differ materially from
any estimates or projections of future performance or results expressed or
implied by such forward-looking statements. These risks and uncertainties
include, among other things, that the patent portfolio will not be verified by
the Company's due diligence, that the seller will not be able to convey
unencumbered title to the patent portfolio to the Company, that Time's Three
will not receive all regulatory and third party approvals for the acquisition in
a timely manner, or at all, that the acquisition agreement will be amended or
terminated and the other factors described in Times Three's public filings
available in Canada at www.sedar.com. Readers are cautioned that this list of
risk factors should not be construed as exhaustive.


The forward-looking statements contained in this news release speak only as of
the date of this news release. Except as expressly required by applicable
securities laws, Times Three does not undertake any obligation to publicly
update or revise any forward looking statements, whether as a result of new
information, future events or otherwise. The forward-looking statements
contained in this news release are expressly qualified by this cautionary
statement.


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 (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.


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


FOR FURTHER INFORMATION PLEASE CONTACT: 
Times Three Wireless Inc.
William Middleton
CEO
613.897.3894