Mr. Dennis Fong reports

TERAGO CLOSES $6.9 MILLION BOUGHT DEAL OFFERING

TeraGo Inc. has closed its previously announced bought deal offering, including the exercise in full of the underwriters' overallotment option. The company issued and sold today an aggregate of 1,302,950 common shares at a price of $5.30 per common share for gross proceeds of $6,905,635.

The offering was carried out pursuant to an underwriting agreement dated June 4, 2018, with a syndicate of underwriters led by TD Securities Inc., and included Cormark Securities Inc. and Desjardins Securities Inc.

The company intends to use the net proceeds of the offering to finance its acquisition of six 24-gigahertz spectrum licences for which it is currently leasing and any associated costs of such acquisition, as further disclosed in the final short form prospectus dated June 11, 2018.

About TeraGo Inc.

TeraGo provides businesses across Canada with cloud, co-location and connectivity services. TeraGo manages over 3,000 cloud workloads, operates five data centres in the Greater Toronto Area, the Greater Vancouver Area and Kelowna, and owns and manages its own IP network.

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