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Redknee Solutions Announces C$45.0 Million Private Placement Financing

TORONTO, ONTARIO--(Marketwired - April 2, 2013) -THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

Redknee Solutions Inc. (TSX:RKN) ("Redknee" or the "Company") announced today that it has entered into an agreement with a syndicate of underwriters co-led by GMP Securities L.P. and TD Securities Inc. and including Canaccord Genuity Corp. and M Partners Inc. (collectively, the "Underwriters"), pursuant to which the Underwriters have agreed to purchase, on a private placement basis, 14,520,000 special warrants (the "Special Warrants") of the Company at a price of C$3.10 per Special Warrant (the "Offering Price") for aggregate gross proceeds to Redknee of C$45,012,000 (the "Offering"). The Company has granted the Underwriters an option (the "Over-Allotment Option"), which may be exercised by the Underwriters at any time up to 48 hours prior to the closing of the Offering, to increase the size of the Offering by up to an additional 2,178,000 Special Warrants for additional gross proceeds of up to C$6,751,800, representing 15% of the Offering. The Company intends to use the net proceeds from the Offering, including any proceeds from the Over-Allotment Option, for working capital.

Each Special Warrant will be exercisable into one common share in the capital of Redknee (the "Common Shares") for no additional consideration. The Special Warrants will be deemed to be exercised upon the earlier of: (i) a date that is no later than the fifth business day after the date of issuance of a receipt for a final prospectus qualifying the issuance of Common Shares underlying the Special Warrants; and (ii) four months and one day following the closing of the Offering. Redknee has agreed to use commercially reasonable best efforts to file a prospectus qualifying the issuance of the Common Shares underlying the Special Warrants within 75 days of closing of the Offering in all provinces of Canada where purchasers of Special Warrants are resident.

The Offering is expected to close on April 18, 2013 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Toronto Stock Exchange.

The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

Media Enquiries: media@redknee.com

About Redknee:
Redknee monetizes today's digital world for communications service providers. Our market-leading portfolio of monetization and subscriber management solutions includes real-time billing, charging, policy and customer care modules and is available on premise, cloud-based, or as Software-as-a-Service. With a central focus on driving customer success, Redknee's products power growth and innovation for operators globally. Established in 1999, Redknee Solutions Inc. (TSX: RKN) can be found on the Toronto Stock Exchange. For more information about Redknee, please go to www.redknee.com.


For additional information please contact:

Redknee Solutions:

Kristin Donelson
Kristin.Donelson@redknee.com
+1 905 625 2190

Investor Relations:
Katelynn Thissen
NATIONAL | Equicom
T: (416) 848-1427
kthissen@national.ca