Glenbriar Enters Letter of Intent with Specialized IT Services Provider

Calgary, Alberta--(Newsfile Corp. - June 25, 2014) - Glenbriar Technologies Inc. (CSE: GTI) is pleased to announce that it has entered into a Letter of Intent to acquire all the outstanding shares of Innovation Networks Inc., an IT solutions provider headquartered in Richmond, British Columbia. Innovation Networks offers a wide range of Cloud based, specialized managed services, and related IT solutions to the business sector, from offices in Greater Vancouver, Montreal and Toronto.

The Letter of Intent sets out the basis for a share exchange between the two companies, which would result in Innovation Networks becoming a wholly owned subsidiary of Glenbriar.

Glenbriar and Innovation Networks believe that the transaction will provide a number of significant benefits to the shareholders of both companies including:

• increased scale and market presence in fast growing Cloud based services;
• a wider breadth of offerings, especially in cyber security and Cloud products;
• a broader national presence, and the extension of Glenbriar services into Quebec; and
• new national marketing and sales talent available through Innovation Networks.

"The opportunity to merge with Innovation Networks will allow Glenbriar to significantly extend the reach of its IT offerings, including our newly licensed cyber-security solutions," noted Robert Matheson, Glenbriar's CEO. "It will deepen our existing presence across Canada, and through cross-fertilization of complementary products, provide the customer base of both enterprises with a wider range of products and capabilities."

Andreas Karakas, Innovation Networks' CEO, noted, "We are excited at the opportunity to combine forces with Glenbriar to extend our mutual reach both geographically and in the depth and breadth of the premium solutions we can deliver to our client bases. This promises to be a win-win transaction."

Innovation Networks' product offerings includes: an internally-developed disaster recovery solution that has the ability to fully restore a local or cloud server usually within thirty minutes, and hybrid cloud deployment and IT auditing services for increased operational efficiency, security and productivity. Currently, over 10,000 people across Canada rely on Innovation Networks' solutions.

The merger is conditional upon the satisfactory completion Glenbriar's due diligence, the execution of a share exchange agreement, and any regulatory approvals.

About Innovation Networks

Innovation Networks Inc. provides comprehensive, enterprise-class IT solutions to companies across Canada. The Company specializes in the development of network and cloud infrastructure to support continuous server uptime. Other core product and service offerings include specialized managed services to enhance business productivity and performance. See www.innovationnetworks.com for more details.

About Glenbriar

Glenbriar Technologies Inc. (CSE: GTI) is a leading provider of Cloud-enabled business technology solutions. From its offices in Calgary, Vancouver and Waterloo, Glenbriar's IT professionals and software developers design, manage and support solutions that include IT Services, Cloud Services, Portals & Collaboration, Unified Communications and Software Services. See www.glenbriar.com for more details.

The CSE has not reviewed and does not accept responsibility for the adequacy and accuracy of this information.

This news release may contain forward-looking statements. These forward-looking statements do not guarantee future events or performance and should not be relied upon. Actual outcomes may differ materially due to any number of factors and uncertainties, many of which are beyond Glenbriar's control. Some of these risks and uncertainties may be described in Glenbriar's corporate filings (posted at www.sedar.com). Glenbriar has no intention or obligation to update or revise any forward looking statements due to new information or events.