IQ AirIQ Inc

AirIQ Inc. (the "Company" or "AirIQ") (TSX VENTURE:IQ), a supplier of wireless
location-based services, today announced the closing of the previously announced
issuance of 3,300,000 common shares at a price of $0.05 per share to settle
outstanding debts in the aggregate amount of $165,000.


A total of 3,300,000 shares were issued; 2,000,000 to Mosaic Capital Partners LP
("Mosaic"), and 1,300,000 to 2204671 Ontario Ltd. ("2204671). The Company
elected to satisfy the indebtedness with shares in order to preserve its cash
for operations. Following this repayment, the promissory notes issued in
November 2012 to each of Mosaic and 2204671 have been repaid in full.


Mosaic is a shareholder of the Company and Vernon Lobo, a director and Chairman
of AirIQ, is a managing director of Mosaic. 2204671 is a personal holding
company of Donald Gibbs, a director, President and Chief Executive Officer of
the Company.


Pursuant to applicable Canadian securities laws, the securities issued in
connection with the shares for debt are subject to a four-month hold period from
the date of issuance, expiring on October 15, 2013. The transaction was approved
by the TSX Venture Exchange.


The shares for debt transaction constitutes a related party transaction under
Canadian Multilateral Instrument 61-101 ("MI 61-101") by virtue of the
participation in such transaction of the directors of the Company referenced
above, but the transaction is otherwise exempt from the formal valuation and
minority approval requirements of MI 61-101.


Following this transaction, AirIQ now has a total of 21,358,947 common shares
issued and outstanding.


About AirIQ

AirIQ currently trades on the TSX Venture Exchange under the symbol IQ. AirIQ's
office is located in Pickering, Ontario, Canada. The Company offers a suite of
asset management services that generate recurring revenues from each device
deployed. AirIQ delivers services to two primary markets: Commercial Fleets and
dealers that service Consumer segments. AirIQ provides vehicle owners with the
ability to monitor, manage and protect their mobile assets. Services include:
instant vehicle locating, boundary notification, automated inventory reports,
maintenance reminders, security alerts and vehicle disabling and unauthorized
movement alerts. For additional information on AirIQ or its products and
services, please visit the Company's website at www.airiq.com. 


Forward-looking Statements

This news release contains forward-looking information based on management's
best estimates and the current operating environment. These forward-looking
statements are related to, but not limited to, AirIQ's operations, anticipated
financial performance, business prospects and strategies. Forward-looking
information typically contains statements with words such as "hope", "goal",
"anticipate", "believe", "expect", "plan" or similar words suggesting future
outcomes. These statements are based upon certain material factors or
assumptions that were applied in drawing a conclusion or making a forecast or
projection as reflected in the forward-looking statements, including AirIQ's
perception of historical trends, current conditions and expected future
developments as well as other factors management believes are appropriate in the
circumstances. Such forward-looking statements are as of the date which such
statement is made and are subject to a number of known and unknown risks,
uncertainties and other factors, which could cause actual results or events to
differ materially from future results expressed, anticipated or implied by such
forward-looking statements. Such factors include, but are not limited to,
changes in market and competition, technological and competitive developments
and potential downturns in economic conditions generally. Therefore, actual
outcomes may differ materially from those expressed in such forward-looking
statements. Forward-looking statements are provided for the purpose of providing
information about management's current expectations and plans relating to the
future. Readers are cautioned that such information may not be appropriate for
other purposes. Other than as may be required by law, AirIQ disclaims any
intention or obligation to update or revise any such forward-looking statements,
whether as a result of such information, future events or otherwise.


FOR FURTHER INFORMATION PLEASE CONTACT: 
AirIQ Inc.
Donald Gibbs
President and Chief Executive Officer
(905) 831-6444, Ext. 4255
dgibbs@airiq.com
www.airiq.com

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