VANCOUVER, British Columbia, Jan. 31, 2018 (GLOBE NEWSWIRE) -- Targeted Microwave Solutions Inc. (TSXV:TMS)
(“TMS”) announced today that it has reached agreements, respectively, with Satellite Overseas (Holdings) Limited
and James Young, the Chief Executive Officer of TMS, to settle amounts owed and totaling US$2,686,650 by the issuance of 66,204,429
common shares of TMS at a deemed price of $0.05 per share.
The debt settlement transaction is subject to TSX Venture Exchange approval.
On behalf of the Board of Directors,
"Dr. James Young"
Chief Executive Officer and Chairman
About Targeted Microwave Solutions Inc.
Targeted Microwave Solutions Inc. is a clean technology company specializing in mass-flow microwave drying
applications for bulk aggregates such as clays, coal and biomass.
The Company is a reporting issuer in Canada and is listed on the following stock exchanges:
| TSX-V: TMS | FRA: A2ACNT | OTCQB: TGTMF |
For further information, visit www.tmsenergy.com or the Company’s public disclosure filing on www.sedar.com.
FORWARD-LOOKING STATEMENTS
This news release contains certain statements which are, or may be deemed to be, "forward-looking statements".
Forward-looking statements are statements that address or discuss activities, events or developments that we expect or anticipate
may occur in the future. Forward-looking statements consist of statements that are not purely historical. When used in this news
release, words such as "estimates", "expects", "plans", "anticipates", "projects", "will", "believes", "intends", "should",
"could", "may" and other similar terminology are intended to identify such forward-looking statements. Forward-looking statements
reflect the then-current expectations, beliefs, assumptions, estimates and forecasts of our management. Because forward-looking
statements involve known and unknown risks, uncertainties, assumptions and other factors which are difficult to predict, our actual
results, performance or achievements or the actual results or performance of the industries and markets in which we operate and
intend to operate may be materially different from those anticipated in our forward-looking statements. Forward-looking statements
involve significant uncertainties and risks, should not be read as guarantees of future performance or results and will not
necessarily be an accurate indication of whether or not such results will be achieved. A number of factors could cause actual
results to differ materially from the results discussed in our forward-looking statements, including such other matters described
in our public filings available on SEDAR at www.sedar.com. Accordingly, readers should exercise caution in relying upon our
forward-looking statements and we undertake no obligation to publicly revise such statements to reflect subsequent events or
circumstances, except as required by law.
Neither the 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.
Media Contact: +1 (778) 995 5833 office@tmsenergy.com
