Tel-Instrument Electronics Reports Unsolicited Promotional Activities

Tel-Instrument Electronics Corp. (“Tel”, “TIC” or the “Company”) (OTCQB: TIKK), a leading designer and manufacturer of avionics test and measurement solutions was notified by the OTC Markets about certain promotional activities relating to the Company’s common stock traded on the OCTQB market. The Company did not initiate any request for this promotion, which touts the Company and encourages investors to purchase shares. We are required to issue this press release as a requirement of OTC Markets.

We became aware of the promotional activity on October 28, 2020, the day the promotional material was released. On October 27, 2020, the day prior to the release of the promotional material, the Company’s stock went from a closing price of $3.70 on October 26, 2020 to a closing price of $4.65, a 25.7% increase, on volume of only 5,500 shares. On October 28, 2020, the date of the promotional activity, the closing price of the Company’s stock price declined 16.1% to $3.90 on volume of 38,700 shares.

The Company had made no announcements during this timeframe. The Company confirms that none of its officers, directors management or controlling shareholders (defined as shareholders owning 10% or more of the Company’s securities) were directly or indirectly involved in any way (including payment of a third-party) with the creation, distribution or payment of promotional materials related to the Company, and that the Company has no knowledge regarding the source of this promotional activity. The Company had engaged an investor relations firm, IMS, within the last twelve months, but this firm did not engage in any promotional activities.

The statements regarding the Company that were made in the unsolicited promotional materials, in our opinion, were not materially false and/or misleading.

To the best of our knowledge, the Company confirms that none of the Company’s officers, directors or its controlling shareholders sold or purchased shares of common stock of the Company within the last 90 days.

In a prior year, the Company had issued preferred stock allowing conversion to equity securities at a price constituting a discount to the current market price at the time of issuance. Such issuance has been fully disclosed in Current Reports on Form 8-K, Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q.

The Company is committed to compliance with the OTC Markets Group’s policy on stock promotion and the OTCQB standards. The Company encourages those interested in the Company to rely solely on information included in press releases and distributed by the Company through approved news wire disclosure and news services, combined with its filings and disclosures made with the Securities and Exchange Commission (“SEC”) and available on the SEC website (sec.gov) and the OTC Markets website.