Times Three Wireless Announces Patent Acquisitions

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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 a group of
fundamental patents along with the right to further develop the portfolio by
filing additional patents arising from ongoing research involving the underlying
technologies. 


Times Three's acquisition currently includes 3 patents issued and pending in the
USA and Japan that cover a high-yield, cost-efficient and 'environmentally
cleaner' process for the production of half-esters. Half-esters are valuable
specialty chemicals used as essential building blocks to create a variety of
widely used, high volume consumer and industrial products, including polyesters
and other polymeric materials. These products are commonly utilized in diverse
industries as agriculture, cosmetics, pharmaceuticals, electronics, metal
working, and the food and beverage sector. The materials and products that could
be implicated by these patents comprise a multi-billion dollar market annually
in the USA alone. A major Japanese chemical producer has already licensed the
technology underlying the patents for its operations in Japan.


Times Three intends to expand the size and scope of this portfolio by filing
additional patent applications arising from ongoing research and innovation. The
inventor was a nominee for the US Presidential Green Challenge Award for her
leading work in this area and will continue to conduct research and development
activities with the support of the Company. She is currently a faculty member at
a major American university. 


The terms of the governing agreements require the Company to make cash payments
spread out over a 3-year period for consulting services and to pay to the
inventor a minority percentage share of net licensing proceeds generated by
Times Three. The specific terms of the agreement between the parties are
confidential.


"We are very pleased to sign our first patent acquisition and IP development
agreement with an inventor who is a leading scientist in her field - moreover we
believe that this patent portfolio relates to a large and growing multi-B$
market for industrial chemicals and products", said William Middleton, Times
Three's CEO, "This exciting partnership model supports past and ongoing research
and innovation in a high-profile area of product development and permits Times
Three to expand and diversify its high margin IP and patent licensing programs -
in this way, it is truly a 'win-win' arrangement for both parties". 


Mr. Middleton said that "The unique feature of our Times Three model is that we
not only acquire the rights to license valuable patents but we assist the
inventor and her colleagues to enhance existing technologies and to further
innovate while we file and prosecute the resultant licensable patents - all at
an affordable upfront cost to the Company". "This transaction is part of our
ongoing commitment to our investors to develop and implement multiple licensing
programs covering a variety of technologies and products in order to better
leverage our resources and to create numerous revenue-producing opportunities
for us and our partners", Middleton added.


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 in other areas. 


The Company's proprietary narrow band location and telemetry technology has been
successfully implemented and licensed to an operator of a 1500 square kilometer
wireless network in S o Paolo, 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 growth of the Company's IP and patent
licensing programs. With respect to forward-looking statements contained in this
news release, Times Three has made assumptions regarding, among other things,
the adoption of the Company's technology and the technology underlying other
patents acquired by the Company. 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, 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
(TSXV:TTW)
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