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TIO Networks Announces a Pilot Program with Coinstar

^{Published on 2009-07-21 05:09:26, Last Modified on 2009-07-21 05:09:32 - Market Wire}
 

 - TIO to deploy up to 50 kiosks in key Coinstar supermarket accounts - BURNABY, BC, July 21 /CNW/ - TIO Networks Corp. (TSX-V: TNC), North America's leading expedited bill payment processor, today announced it entered into an agreement with Coinstar, Inc. (NASDAQ: CSTR), to deploy on a exclusive basis up to 50 of TIO's multi functional kiosks at key Coinstar supermarket accounts in select test markets. On successful completion of the pilot program, the agreement gives Coinstar the option to deploy bill payment services in Coinstar accounts across the United States. TIO's self-service touch screen kiosks accept cash and provide bill payment services for wireless, cable, utility and other billers. The Company simultaneously closed a non-brokered private placement, pursuant to which Coinstar, Inc. purchased 230,620 common shares of TIO Networks Corp. at CDN $0.75 per share for gross proceeds of CDN$172,965. Proceeds of the financing will be used to fund the pilot program. The shares are subject to resale restrictions for a period of four months from the closing date under applicable securities legislation. The private placement is subject to approval of the TSX Venture Exchange. About TIO Networks Corp. TIO is the leading multi-channel expedited bill payment processor serving the largest Telecom, Wireless, Cable and Utility bill issuers in North America. With over 12,500 endpoints to its processing network, TIO symbolizes fast, convenient and secure access to expedited payment services. TIO's self-service bill payment products and services are considered "industry best" and have been deployed with leading retail, wireless, cable and utility companies in North America. For more information, visit [ www.TIOnetworks.com ]. 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. %SEDAR: 00010068E 

For further information: Behshad Hastibakhsh, Media Relations - TIO Networks, Tel: (604) 298-4636, Ext. 250, Toll Free: 1-888-679-3322, Email: [ pr@tionetworks.com ]; John Lewis, Business Development - TIO Networks, Tel: (416) 364-2266, Toll Free: 1-877-954-6327, Email: [ jrlewis@tionetworks.com ]