Tranzeo Wireless Technologies Inc. Responds to Avnet Inc. Lawsuit

Marketwired

PITT MEADOWS, BRITISH COLUMBIA--(Marketwire - April 13, 2012) - Tranzeo Wireless Technologies Inc. (TSX VENTURE:TZT.V - News)

("Tranzeo" or the "Company") announced today that it is aware of the notice of claim filed by Avnet Inc. with respect to its assertion that Tranzeo owes monies regarding certain inventory transactions. Tranzeo is investigating this claim and will respond accordingly after an examination of the facts.

About Tranzeo

Tranzeo Wireless Technologies Inc. (TSX VENTURE:TZT.V - News) leads the wireless broadband industry as a premier manufacturer of high-performance wireless network equipment that allows communities and businesses to communicate without boundaries. Tranzeo's full spectrum of point-to-point and point-to-multipoint radios, WiMAX equipment, and mesh network solutions are designed for wireless internet service providers, governments, campuses, military, carriers, enterprise customers, and systems integrators around the globe. Headquartered in British Columbia, Canada, Tranzeo also has an office in San Diego, California. Visit www.tranzeo.com or phone 1.866.872.6936 for more information.

Forward-Looking Information

This news release contains certain statements that constitute forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Tranzeo to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this press release include, but are not limited to, the Company's expectation with respect to applying to the applicable securities regulatory authorities for a management cease trade order, the expected time for filing of the Company's Required Documents and the imposition of a cease trade order by applicable securities regulatory authorities. Forward-looking statements may also include, without limitation, any statement relating to future events, conditions or circumstances.

The forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results or events to differ materially from current expectations including, but not limited to, the risks detailed from time to time in Tranzeo's filings with Canadian provincial securities regulators. Also, with respect to the statements regarding the expected filing of the Required Documents, such statements are subject to the risk that the remediation steps may take longer than expected.

Tranzeo cautions you not to place undue reliance upon any such forward-looking statements, which speak only as of the date they are made. Forward-looking statements are based on management's current plans, estimates, projections, beliefs and opinions, and Tranzeo does not undertake any obligation to update forward-looking statements should assumptions related to these plans, estimates, projections, beliefs and opinions change.

Tranzeo and the Tranzeo logo are registered trademarks of Tranzeo Wireless Technologies Inc.

Contact:
Mike Mannella
Tranzeo Wireless Technologies Inc.
IR
(604) 460-6002
mjohansen@tranzeo.com

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