Redline Communications Inc. Announces Securities Filing in Connection with Previously Announced Loan

TORONTO, Feb. 3, 2022 /CNW/ - Redline Communications Group Inc. ("Redline" or the "Company") (TSX: RDL), a leading provider of mission-critical data infrastructure for remote and harsh environments, announces today that it has filed under its SEDAR profile a material change report (the "Material Change Report") related to the previously disclosed credit agreement (the "Credit Agreement") entered into with Edgepoint Wealth Management ("Edgepoint") and two existing investors.  The Company has also filed the Credit Agreement under its SEDAR profile.  The material change report provides additional information with respect to the Credit Agreement, which was previously announced on November 22, 2021.

The Material Change Report and the Credit Agreement have been filed at the request of the Ontario Securities Commission (the "OSC") in connection with the OSC's review of Redline's continuous disclosure record related to the Credit Agreement. As a result of the filing of the Material Change Report and the Credit Agreement, Staff of the OSC have advised the Company that it will be placed on the public list of Refiling and Errors in accordance with OSC Staff Notice 51-711 (Revised) Refilings and Corrections of Errors.

About Redline

Redline (TSX:RDL) designs and manufactures powerful wide-area wireless networks for mission-critical applications in challenging locations. Redline networks are used by oil & gas companies onshore and offshore, mining companies on surface and underground operations, distribution utilities for last mile broadband, municipalities to remotely monitor infrastructure, and by specialized telecom service providers to deliver premium services. Hundreds of businesses worldwide rely on Redline to engineer, plan and deliver ruggedized, secure and reliable networks for their IoT, voice, data, and video communications needs. For more information, visit www.rdlcom.com.

SOURCE Redline Communications Group Inc.

Redline Contact(s): Richard Yoon, Chief Executive Officer, [phone], [email protected]; Philip Jones, Chief Financial Officer, [phone], [email protected]; Investor Relations Contact: Ron Shuttleworth, Partner, OakHill Financial, [phone], [email protected]