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MARKETS LIVE BLOG:

STOCKS RISE, LED BY STELLAR ALPHABET, MICROSOFT EARNINGS

Results from 'Magnificent Seven' duo show cloud revenue boosted by strong AI demand

DataWind Announces $2.6 Million Bought Deal Financing

Marketwired

MISSISSAUGA, ONTARIO--(Marketwired - March 9, 2016) -

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN

DataWind Inc. ("DataWind" or the "Company") (DW.TO), a leader in the delivery of internet access in emerging markets, today announced that it has entered into a bought deal agreement with Haywood Securities Inc. ("Haywood" or the "Underwriter") for the issuance of 1,300,000 units ("Units") on a bought deal basis at a price of $2.00 per Unit (the "Issue Price") for gross proceeds of $2,600,000 (the "Offering"). Each Unit will consist of one common share in the capital of the Company (a "Common Share") and one half of one common share purchase warrant (each whole common share purchase warrant, a "Warrant") of the Company. Each Warrant will entitle the holder to acquire one Common Share (a "Warrant Share") at a price of $2.80 for a period of 12 months from the closing date.

The Underwriter will have the option to purchase up to an additional 195,000 Units at the Issue Price at any time prior to 30 days following the closing date for additional gross proceeds of up to $390,000.

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The net proceeds from the Offering will be used for working capital and general corporate purposes.

The Units will be offered by way of a short form prospectus in each of the provinces of Canada, other than the Province of Quebec, and in the United States on a private placement basis pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended.

The Offering is scheduled to close on or about March 31, 2016 and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals, including the approval of the Toronto Stock Exchange and the securities regulatory authorities.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons (as defined in Regulation S under the 1933 Act) absent such registration or an applicable exemption from such registration requirements.

About DataWind

DataWind is a leader in providing affordable mobile Internet connectivity in emerging markets. The company's patented, cloud-based technology reduces up to 97% the amount of data needed for web browsing, providing a broadband experience on any network - even on legacy 2G networks that are still prevalent in developing countries. DataWind also provides economical smartphones and tablets that come bundled with one year of unlimited internet access, making it the largest tablet provider in India only behind Samsung. DataWind's unique solution offers broad social and economic benefits for the billions of people around the world for whom an Internet connection was previously out of reach. DataWind is traded on the Toronto Stock Exchange (DW.TO). For more information visit www.datawind.com.

Forward-Looking Information

This press release includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with the Company and the environment in which the Company operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking statements, including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend" and similar expressions to the extent they relate to the Company or its management. The forward- looking statements are not historical facts, but reflect management's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. The Company does not undertake or accept any obligation to release publicly any updates or revisions to any forward-looking statements to reflect any change in the Company's expectations, except as prescribed by applicable securities laws.

No securities regulatory authority has either approved or disapproved the contents of this press release/media advisory.