Times Three Wireless Announces Terms of Brokered Private Placement

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S. 

Times Three Wireless Inc. (TSX VENTURE:TTW) ("Times Three" or the "Company") is
pleased to announce the terms of its previously announced fully marketed equity
private placement. Paradigm Capital Inc. (the "Agent") has been engaged by the
Company to act as lead agent for a fully marketed private placement (the
"Offering") of units ("Units") of the Company, for gross proceeds of a minimum
of $6 million, at a price of $0.09 per Unit. Each Unit shall consist of one
common share ("Common Share") of the Company and one Common Share purchase
warrant (a "Warrant"). Each Warrant will entitle the holder to acquire one
Common Share at an exercise price of $0.13 per share at any time up to 2 years
from the date of the closing of the Offering.  


The Units will be offered for sale to eligible purchasers resident in the
Provinces of Alberta and Ontario, and such other jurisdictions as the Company
and the Agent may decide, pursuant to available exemptions under applicable
securities laws. The Offering is expected to close, in one or more closings, on
or about November 23, 2012. It is expected that insiders of the Company will
participate in the Offering. The Common Shares and Warrants issuable as part of
the Units, and the Common Shares issuable on exercise of the Warrants, are
subject to a 4 month hold period from the date of closing. 


The net proceeds raised under the Offering will be used towards evaluating and
analyzing the Company's existing patent portfolio and potential patent
acquisition opportunities, to investigate and pursue potential strategic
acquisitions and partnerships and for general corporate purposes. 


The Offering is subject to the approval of the TSX Venture Exchange. 

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 timing of closing and use of
proceeds of the proposed private placement financing. With respect to
forward-looking statements contained in this news release, Times Three has made
assumptions regarding, among other things, the closing date and use of proceeds
of the proposed private placement financing. 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 Company may
not be successful in finalizing the terms of the private placement financing and
closing such placement 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.


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


Times Three Wireless Inc.
David Guebert
CFO
403.569.5700
(TSXV:TTW)
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