<SEC-DOCUMENT>0001437749-17-014219.txt : 20170809
<SEC-HEADER>0001437749-17-014219.hdr.sgml : 20170809
<ACCEPTANCE-DATETIME>20170809100054
ACCESSION NUMBER:		0001437749-17-014219
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20170809
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20170809
DATE AS OF CHANGE:		20170809

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TUCOWS INC /PA/
		CENTRAL INDEX KEY:			0000909494
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMPUTER PROCESSING & DATA PREPARATION [7374]
		IRS NUMBER:				232707366
		STATE OF INCORPORATION:			PA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-32600
		FILM NUMBER:		171016692

	BUSINESS ADDRESS:	
		STREET 1:		96 MOWAT AVENUE
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M6K 3M1
		BUSINESS PHONE:		4165385478

	MAIL ADDRESS:	
		STREET 1:		96 MOWAT AVENUE
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M6K 3M1

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INFONAUTICS INC
		DATE OF NAME CHANGE:	19960426

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INFONAUTICS CORP
		DATE OF NAME CHANGE:	19960315
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>tcx20170809_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<p style="margin: 0pt; text-align: center; text-indent: 0pt; font-family: Times New Roman, Times, serif; font-size: 10pt;"><b><font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">UNITED STATES</font></b></p>

<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;"><b>SECURITIES AND EXCHANGE COMMISSION</b></p>

<p style="margin: 0pt; text-align: center; text-indent: 0pt; font-family: Times New Roman, Times, serif; font-size: 10pt;"><font style="font-family: Times New Roman, Times, serif; font-size: 10pt;"><b>WASHINGTON, D.C. 20549</b></font></p>

<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">___________________________________________________________</p>

<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;"><b>FORM 8-K</b></p>

<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;"><b>CURRENT REPORT</b></p>

<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;"><b>PURSUANT TO SECTION 13 OR 15(d) OF THE</b></p>

<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;"><b>SECURITIES EXCHANGE ACT OF 1934</b></p>

<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">Date of report (Date of earliest event reported): <font style="font-family: Times New Roman, Times, serif; font-size: 10pt;"><u>August 8</u><u>, 2017</u></font></p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;"><u>TUCOWS INC </u></p>

<p style="margin: 0pt; text-align: center; text-indent: 0pt; font-family: Times New Roman, Times, serif; font-size: 10pt;"><font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">(Exact Name of Registrant Specified in Charter)</font></p>

<p style="margin: 0pt; text-align: left; text-indent: 36pt; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<table align="center" border="0" cellpadding="0" cellspacing="0" id="TBL1" style="width: 69.1%; text-indent: 0px; font-family: Times New Roman, Times, serif; font-size: 10pt;">

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			<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

			<p style="margin: 0pt 0pt 0pt 49.7pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;"><u>&nbsp;</u><font style="font-family: Times New Roman, Times, serif; font-size: 10pt;"><u>Pennsylvania </u></font></p>

			<p style="margin: 0pt 0pt 0pt 49.7pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">(State or Other</p>

			<p style="margin: 0pt 0pt 0pt 49.7pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">Jurisdiction of</p>

			<p style="margin: 0pt 0pt 0pt 49.7pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">Incorporation)</p>
			</td>
			<td style="width: 33%; vertical-align: top;">
			<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

			<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;"><u>0-28284</u><font style="font-family: Times New Roman, Times, serif; font-size: 10pt;"><u>&nbsp;</u></font></p>

			<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">(Commission File</p>

			<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">Number)</p>
			</td>
			<td style="width: 33%; vertical-align: top;">
			<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

			<p style="margin: 0pt 0pt 0pt 49.7pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;"><u>&nbsp;</u><font style="font-family: Times New Roman, Times, serif; font-size: 10pt;"><u>&nbsp;</u><u>23-2707366 </u></font></p>

			<p style="margin: 0pt 0pt 0pt 49.7pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">(IRS Employer</p>

			<p style="margin: 0pt 0pt 0pt 49.7pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">Identification No.)</p>
			</td>
		</tr>

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			<p style="margin: 0pt; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

			<div style="left: -5000px; width: 1px; height: 1px; overflow: hidden; position: absolute;">96 Mowat Avenue, Toronto, Ontario, Canada</div>

			<p>&nbsp;</p>

			<p style="margin: 0pt;">96 Mowat Avenue, Toronto, Ontario, Canada</p>
			</td>
			<td style="width: 20%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: none;">&nbsp;</td>
			<td colspan="2" style="width: 20%; text-align: center; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-bottom-width: thin; border-bottom-style: solid;">M6K 3M1</td>
		</tr>
		<tr>
			<td style="width: 60%; vertical-align: top;">(Address of Principal Executive Offices)</td>
			<td style="width: 20%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: none;">&nbsp;</td>
			<td colspan="2" style="width: 20%; text-align: center; vertical-align: top;">(Zip Code)</td>
		</tr>

</table>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">Registrant<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">&rsquo;s telephone number, including area code: <u>(416) 535-0123</u></font></p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;"><font style="font-family: Times New Roman, Times, serif; font-size: 10pt;"><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not Applicable</u><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></font></p>

<p style="margin: 0pt; text-align: center; text-indent: 0pt; font-family: Times New Roman, Times, serif; font-size: 10pt;"><font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">(Former Name or Former Address, if Changed Since Last Report)</font></p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: left; text-indent: 36pt; font-family: Times New Roman, Times, serif; font-size: 10pt;"><font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</font></p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: left; text-indent: 36pt; font-family: Times New Roman, Times, serif; font-size: 10pt;"><font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">&#9633;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: left; text-indent: 36pt; font-family: Times New Roman, Times, serif; font-size: 10pt;"><font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">&#9633;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: left; text-indent: 36pt; font-family: Times New Roman, Times, serif; font-size: 10pt;"><font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">&#9633;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act&nbsp;(17 CFR 240.14d-2(b))</font></p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: left; text-indent: 36pt; font-family: Times New Roman, Times, serif; font-size: 10pt;"><font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">&#9633;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act&nbsp;(17 CFR 240.13e-4(c))</font></p>

<p style="margin: 0pt; text-align: left; text-indent: 36pt; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<div id="PGBK" style="width: 100%; margin-right: 0pt; margin-left: 0pt;">
<div id="PGNUM" style="width: 100%; text-align: center;">&nbsp;</div>

<hr style="border: currentColor; border-image: none; width: 100%; height: 2px; color: rgb(0, 0, 0); page-break-after: always; background-color: rgb(0, 0, 0);">
<div id="PGHDR" style="width: 100%; text-align: left;">&nbsp;</div>
</div>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;"><b>Item 2.02. Results of Operations and Financial Condition.</b></p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: left; text-indent: 36pt; font-family: Times New Roman, Times, serif; font-size: 10pt;"><font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">On August 8, 2017 Tucows Inc., a Pennsylvania corporation (the &ldquo;Company&rdquo;), issued a press release reporting its financial results for its second quarter ended June 30, 2017. A copy of such press release is filed herewith as Exhibit&nbsp;99.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: left; text-indent: 36pt; font-family: Times New Roman, Times, serif; font-size: 10pt;"><font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">The information in this report and the exhibit is furnished to, and not filed with, the Securities and Exchange Commission and shall not be incorporated by reference into any registration statement filed by the Company under the Securities Act of 1933, as amended, unless specifically identified therein as being incorporated therein by reference.</font></p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;"><b>Item 9.01. Financial Statements and Exhibits.</b></p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">(a)&nbsp;&nbsp;&nbsp;&nbsp; <font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">Not Applicable.</font></p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">(b)&nbsp;&nbsp;&nbsp;&nbsp; <font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">Not Applicable.</font></p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">(c<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">)&nbsp;&nbsp;&nbsp;&nbsp; Not Applicable.</font></p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">(d)<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;&nbsp;&nbsp;&nbsp; Exhibits.</font></p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;"><font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p>

<table border="0" cellpadding="0" cellspacing="0" id="MTAB3" style="width: 100%; font-family: Times New Roman, Times, serif; font-size: 10pt;">

		<tr>
			<td colspan="2" rowspan="1" style="width: 10pt;">
			<p style="margin: 0pt;"><u>Exhibit Number</u></p>
			</td>
			<td style="vertical-align: top;">
			<p style="margin: 0pt;"><u>Exhibit</u></p>
			</td>
		</tr>
		<tr>
			<td style="width: 10pt;">&nbsp;</td>
			<td style="width: 99pt; vertical-align: top;">
			<p style="text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt;">99.1</p>
			</td>
			<td style="vertical-align: top;">
			<p style="text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt;"><font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">Press Release of Tucows Inc. dated August 8, 2017, reporting financial results for the second quarter ended June 30, 2017.</font></p>
			</td>
		</tr>

</table>

<p style="margin: 0pt 0pt 0pt 108.7pt; text-align: left; text-indent: -99.35pt; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<div id="PGBK" style="width: 100%; margin-right: 0pt; margin-left: 0pt;">
<div id="PGNUM" style="width: 100%; text-align: center;">&nbsp;</div>

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<div id="PGHDR" style="width: 100%; text-align: left;">&nbsp;</div>
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<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: center; text-indent: 0pt; font-family: Times New Roman, Times, serif; font-size: 10pt;"><font style="font-family: Times New Roman, Times, serif; font-size: 10pt;"><b>SIGNATURES</b></font></p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: left; text-indent: 36pt; font-family: Times New Roman, Times, serif; font-size: 10pt;"><font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</font></p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; font-family: Times New Roman, Times, serif; font-size: 10pt;">

		<tr>
			<td style="width: 50%;">&nbsp;</td>
			<td style="width: 50%;"><b>TUCOWS INC.</b></td>
		</tr>
		<tr>
			<td>&nbsp;</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td>&nbsp;</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td>&nbsp;</td>
			<td>&nbsp;</td>
		</tr>
		<tr>
			<td>&nbsp;</td>
			<td>By<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;"><u>:</u><u> </u><u>/s/ </u><u>Davinder Singh</u><u> </u></font></td>
		</tr>
		<tr>
			<td>&nbsp;</td>
			<td><font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;&nbsp;&nbsp;&nbsp; Davinder Singh</font></td>
		</tr>
		<tr>
			<td>&nbsp;</td>
			<td>&nbsp;&nbsp;&nbsp;&nbsp; Chief<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;Financial Officer</font></td>
		</tr>

</table>

<p style="margin: 0pt; text-align: left; text-indent: 53%; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">Dated: <font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">August 9, 2017</font></p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<div id="PGBK" style="width: 100%; margin-right: 0pt; margin-left: 0pt;">
<div id="PGNUM" style="width: 100%; text-align: center;">&nbsp;</div>

<hr style="border: currentColor; border-image: none; width: 100%; height: 2px; color: rgb(0, 0, 0); page-break-after: always; background-color: rgb(0, 0, 0);">
<div id="PGHDR" style="width: 100%; text-align: left;">&nbsp;</div>
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<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;"><b>EXHIBIT INDEX</b></p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" id="MTAB4" style="width: 100%; font-family: Times New Roman, Times, serif; font-size: 10pt;">

		<tr>
			<td colspan="2" rowspan="1" style="width: 10pt;">
			<p style="margin: 0pt;"><u>Exhibit Number</u></p>
			</td>
			<td style="vertical-align: top;">
			<p style="margin: 0pt;"><u>Exhibit</u></p>
			</td>
		</tr>
		<tr>
			<td style="width: 10pt;">&nbsp;</td>
			<td style="width: 99pt; vertical-align: top;">
			<p style="text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt;">99.1</p>
			</td>
			<td style="vertical-align: top;">
			<p style="text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt;"><font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">Press Release of Tucows Inc. dated August 8, 2017, reporting financial results for the second quarter ended June 30, 2017.</font></p>
			</td>
		</tr>

</table>

<p style="margin: 0pt 0pt 0pt 108.7pt; text-align: left; text-indent: -99.35pt; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<p style="text-align: right; margin-top: 0px; margin-bottom: 0px;"><font style="font-family: Times New Roman, Times, serif; font-size: 10pt;"><b>Exhibit 99.1</b></font></p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;"><b>Tucows Reports Continuing Strong Financial Results</b></p>

<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;"><b>for Second Quarter of 2017</b></p>

<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;"><i><b>&ndash;<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;"> Quarter Highlighted by Solid Year-Over-Year Growth Across All Key Financial Metrics and Record EPS - </font></b></i></p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;"><b>TORONTO, August 8, 2017</b><font style="font-family: Times New Roman, Times, serif; font-size: 10pt;"> &ndash; Tucows Inc. (NASDAQ:TCX, TSX:TC), a provider of network access, domain names and other Internet services, today reported its financial results for the second quarter ended June 30, 2017. All figures are in U.S. dollars.</font></p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;"><b>Summary Financial Results</b></p>

<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;"><b>(In Thousands of<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;"> US Dollars, Except Per Share Data)</font></b></p>

<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" id="TBL5" style="margin: 0pt; width: 100%; text-indent: 0px; font-family: Times New Roman; font-size: 10pt;">

		<tr>
			<td style="border-width: thin thin 1px; border-style: solid; border-color: rgb(0, 0, 0); width: 14.9%; vertical-align: top;">
			<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>
			</td>
			<td colspan="3" style="width: 42.6%; vertical-align: top; border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: thin; border-bottom-width: 1px; border-top-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">3 Months Ended June 30</p>
			</td>
			<td colspan="3" style="border-width: thin thin 1px; border-style: solid; border-color: rgb(0, 0, 0) rgb(0, 0, 0) rgb(0, 0, 0) rgb(0, 0, 0); width: 42.5%; vertical-align: top;">
			<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">6 Months Ended June 30</p>
			</td>
		</tr>
		<tr>
			<td style="width: 14.9%; vertical-align: top; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">&nbsp;</td>
			<td style="width: 14.2%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">2017</p>

			<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">(Unaudited)</p>
			</td>
			<td style="width: 14.2%; vertical-align: top; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">2016</p>

			<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">(Unaudited)</p>
			</td>
			<td style="width: 14.2%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">% Change</p>
			</td>
			<td style="width: 14.2%; vertical-align: top; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">2017</p>

			<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">(Unaudited)</p>
			</td>
			<td style="width: 14.2%; vertical-align: top; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">2016</p>

			<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">(Unaudited)</p>
			</td>
			<td style="width: 14.1%; vertical-align: top; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">% Change</p>
			</td>
		</tr>
		<tr>
			<td style="width: 14.9%; vertical-align: top; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt 0pt 0pt 9pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;"><b>Net revenue</b></p>
			</td>
			<td style="width: 14.2%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">84,223</p>
			</td>
			<td style="width: 14.2%; vertical-align: top; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">47,204</p>
			</td>
			<td style="width: 14.2%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">78%</p>
			</td>
			<td style="width: 14.2%; vertical-align: top; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">153,791</p>
			</td>
			<td style="width: 14.2%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">91,950</p>
			</td>
			<td style="width: 14.1%; vertical-align: top; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">67%</p>
			</td>
		</tr>
		<tr>
			<td style="width: 14.9%; vertical-align: top; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt 0pt 0pt 9pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;"><b>Net income</b></p>
			</td>
			<td style="width: 14.2%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">5,241</p>
			</td>
			<td style="width: 14.2%; vertical-align: top; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">4,071</p>
			</td>
			<td style="width: 14.2%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">29%</p>
			</td>
			<td style="width: 14.2%; vertical-align: top; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">7,68<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">8</font></p>
			</td>
			<td style="width: 14.2%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">8,509</p>
			</td>
			<td style="width: 14.1%; vertical-align: top; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">(10%)</p>
			</td>
		</tr>
		<tr>
			<td style="width: 14.9%; vertical-align: top; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt 0pt 0pt 9pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;"><b>Basic Net earnings per common share</b></p>
			</td>
			<td style="width: 14.2%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">0.50</p>
			</td>
			<td style="width: 14.2%; vertical-align: top; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">0.39</p>
			</td>
			<td style="width: 14.2%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">28%</p>
			</td>
			<td style="width: 14.2%; vertical-align: top; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">0.73</p>
			</td>
			<td style="width: 14.2%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">0.80</p>
			</td>
			<td style="width: 14.1%; vertical-align: top; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">(9%)</p>
			</td>
		</tr>
		<tr>
			<td style="width: 14.9%; vertical-align: top; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt 0pt 0pt 9pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;"><b>Adjusted EBITDA</b><font style="font-family: Times New Roman, Times, serif; font-size: 10pt;"><sup><b>1,2</b></sup></font></p>
			</td>
			<td style="width: 14.2%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">10,340</p>
			</td>
			<td style="width: 14.2%; vertical-align: top; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">6,905</p>
			</td>
			<td style="width: 14.2%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">50%</p>
			</td>
			<td style="width: 14.2%; vertical-align: top; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">16,536</p>
			</td>
			<td style="width: 14.2%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">14,222</p>
			</td>
			<td style="width: 14.1%; vertical-align: top; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">16%</p>
			</td>
		</tr>
		<tr>
			<td style="width: 14.9%; vertical-align: top; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt 0pt 0pt 9pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;"><b>Net cash provided by operating activities</b></p>
			</td>
			<td style="width: 14.2%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">8,132</p>
			</td>
			<td style="width: 14.2%; vertical-align: top; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">2,558</p>
			</td>
			<td style="width: 14.2%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">218%</p>
			</td>
			<td style="width: 14.2%; vertical-align: top; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">10,534</p>
			</td>
			<td style="width: 14.2%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1px; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">8,173</p>
			</td>
			<td style="width: 14.1%; vertical-align: top; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">29%</p>
			</td>
		</tr>

</table>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" id="MTAB6" style="width: 100%; font-family: Times New Roman, Times, serif; font-size: 10pt;">

		<tr>
			<td style="width: 18pt;">&nbsp;</td>
			<td style="width: 18pt; vertical-align: top;">
			<p style="text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt;">1.</p>
			</td>
			<td style="vertical-align: top;">
			<p style="text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt;">This Non-GAAP financial measure is descri<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">bed below and reconciled to GAAP net income in the accompanying table. In the second quarter of 2016, Tucows revised its definition of Adjusted EBITDA as detailed in the description below and the table reconciling Adjusted EBITDA to GAAP net income.</font></p>
			</td>
		</tr>

</table>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" id="MTAB7" style="width: 100%; font-family: Times New Roman, Times, serif; font-size: 10pt;">

		<tr>
			<td style="width: 18pt;">&nbsp;</td>
			<td style="width: 18pt; vertical-align: top;">
			<p style="text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt;">2.</p>
			</td>
			<td style="vertical-align: top;">
			<p style="text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt;">Adjust<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">ed EBITDA for the second quarter and first six months of 2017 reflect the impact effect of the purchase price accounting adjustment related to the fair value write down of deferred revenue from the Enom acquisition which lowered Adjusted EBITDA by $1.6 million and $5.5 million for the second quarter and first six months of 2017, respectively.</font></p>
			</td>
		</tr>

</table>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<div id="PGBK" style="width: 100%; margin-right: 0pt; margin-left: 0pt;">
<div id="PGNUM" style="width: 100%; text-align: center;">&nbsp;</div>

<hr style="border: currentColor; border-image: none; width: 100%; height: 2px; color: rgb(0, 0, 0); page-break-after: always; background-color: rgb(0, 0, 0);">
<div id="PGHDR" style="width: 100%; text-align: left;">&nbsp;</div>
</div>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;"><b>Summary of Revenues and Gross Margin</b></p>

<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;"><b>(In Thousands of US Dollars)</b></p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<table border="0" cellpadding="2" cellspacing="0" id="TBL8" style="margin: 0pt; width: 100%; text-indent: 0px; font-family: Times New Roman; font-size: 10pt;">

		<tr>
			<td style="width: 30.4%; vertical-align: bottom; border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: thin; border-bottom-width: 1px; border-left-width: thin; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>
			</td>
			<td colspan="2" style="border-width: thin thin 1px; border-style: solid; border-color: rgb(0, 0, 0); width: 34.8%; vertical-align: bottom;">
			<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;"><b>Revenue</b></p>
			</td>
			<td colspan="2" style="width: 34.8%; vertical-align: bottom; border-top-color: rgb(0, 0, 0); border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-top-width: thin; border-right-width: thin; border-bottom-width: 1px; border-top-style: solid; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;"><b>Gross Margin</b></p>
			</td>
		</tr>
		<tr>
			<td style="width: 30.4%; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>
			</td>
			<td colspan="2" style="width: 34.8%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">3 Months ended</p>

			<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">June 30</p>
			</td>
			<td colspan="2" style="width: 34.8%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">3 Months ended</p>

			<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">June 30</p>
			</td>
		</tr>
		<tr>
			<td style="width: 30.4%; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>
			</td>
			<td style="width: 17.4%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">2017</p>

			<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">(Unaudited)</p>
			</td>
			<td style="width: 17.4%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">201<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">6</font></p>

			<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">(Unaudited)</p>
			</td>
			<td style="width: 17.6%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">2017</p>

			<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">(Unaudited)</p>
			</td>
			<td style="width: 17.2%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">2016</p>

			<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">(Unaudited)</p>
			</td>
		</tr>
		<tr>
			<td colspan="5" style="width: 100%; vertical-align: top; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt 0pt 0pt 9pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">Network Access Services:</p>
			</td>
		</tr>
		<tr>
			<td style="width: 30.4%; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt 0pt 0pt 9pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">Mobile Services</p>
			</td>
			<td style="width: 17.4%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">20,379</p>
			</td>
			<td style="width: 17.4%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">17,805</p>
			</td>
			<td style="width: 17.6%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">9,677</p>
			</td>
			<td style="width: 17.2%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">8,425</p>
			</td>
		</tr>
		<tr>
			<td style="width: 30.4%; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt 0pt 0pt 9pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">Other Services</p>
			</td>
			<td style="width: 17.4%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">1,087</p>
			</td>
			<td style="width: 17.4%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">964</p>
			</td>
			<td style="width: 17.6%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">121</p>
			</td>
			<td style="width: 17.2%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">493</p>
			</td>
		</tr>
		<tr>
			<td style="width: 30.4%; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt 0pt 0pt 9pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">Total Network Access Services</p>
			</td>
			<td style="width: 17.4%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">21,466</p>
			</td>
			<td style="width: 17.4%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">18,769</p>
			</td>
			<td style="width: 17.6%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">9,798</p>
			</td>
			<td style="width: 17.2%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">8,918</p>
			</td>
		</tr>
		<tr>
			<td style="width: 30.4%; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>
			</td>
			<td style="width: 17.4%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>
			</td>
			<td style="width: 17.4%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>
			</td>
			<td style="width: 17.6%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>
			</td>
			<td style="width: 17.2%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>
			</td>
		</tr>
		<tr>
			<td colspan="5" style="width: 100%; vertical-align: top; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt 0pt 0pt 9pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">Domain Services:</p>
			</td>
		</tr>
		<tr>
			<td style="width: 30.4%; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt 0pt 0pt 9pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">Wholesale</p>
			</td>
			<td style="width: 17.4%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>
			</td>
			<td style="width: 17.4%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">&nbsp;</td>
			<td style="width: 17.6%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>
			</td>
			<td style="width: 17.2%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>
			</td>
		</tr>
		<tr>
			<td style="width: 30.4%; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt 0pt 0pt 9pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">Domain Services</p>
			</td>
			<td style="width: 17.4%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">48,550</p>
			</td>
			<td style="width: 17.4%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">21,666</p>
			</td>
			<td style="width: 17.6%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">6,101</p>
			</td>
			<td style="width: 17.2%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">4,028</p>
			</td>
		</tr>
		<tr>
			<td style="width: 30.4%; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt 0pt 0pt 9pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">Value Added Services</p>
			</td>
			<td style="width: 17.4%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">5,576</p>
			</td>
			<td style="width: 17.4%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">2,308</p>
			</td>
			<td style="width: 17.6%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">4,981</p>
			</td>
			<td style="width: 17.2%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">1,849</p>
			</td>
		</tr>
		<tr>
			<td style="width: 30.4%; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt 0pt 0pt 9pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">Total Wholesale</p>
			</td>
			<td style="width: 17.4%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">54,126</p>
			</td>
			<td style="width: 17.4%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">23,974</p>
			</td>
			<td style="width: 17.6%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">11,082</p>
			</td>
			<td style="width: 17.2%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">5,877</p>
			</td>
		</tr>
		<tr>
			<td style="width: 30.4%; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>
			</td>
			<td style="width: 17.4%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">&nbsp;</td>
			<td style="width: 17.4%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">&nbsp;</td>
			<td style="width: 17.6%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">&nbsp;</td>
			<td style="width: 17.2%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">&nbsp;</td>
		</tr>
		<tr>
			<td style="width: 30.4%; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt 0pt 0pt 9pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">Retail</p>
			</td>
			<td style="width: 17.4%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">7,663</p>
			</td>
			<td style="width: 17.4%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">3,576</p>
			</td>
			<td style="width: 17.6%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">3,115</p>
			</td>
			<td style="width: 17.2%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">1,913</p>
			</td>
		</tr>
		<tr>
			<td style="width: 30.4%; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt 0pt 0pt 9pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">Portfolio</p>
			</td>
			<td style="width: 17.4%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">968</p>
			</td>
			<td style="width: 17.4%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">885</p>
			</td>
			<td style="width: 17.6%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">783</p>
			</td>
			<td style="width: 17.2%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">704</p>
			</td>
		</tr>
		<tr>
			<td style="width: 30.4%; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt 0pt 0pt 9pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">Total Domain Services</p>
			</td>
			<td style="width: 17.4%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">62,757</p>
			</td>
			<td style="width: 17.4%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">28,435</p>
			</td>
			<td style="width: 17.6%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">14,980</p>
			</td>
			<td style="width: 17.2%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">8,494</p>
			</td>
		</tr>
		<tr>
			<td style="width: 30.4%; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>
			</td>
			<td style="width: 17.4%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>
			</td>
			<td style="width: 17.4%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>
			</td>
			<td style="width: 17.6%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>
			</td>
			<td style="width: 17.2%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>
			</td>
		</tr>
		<tr>
			<td colspan="5" style="width: 100%; vertical-align: top; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt 0pt 0pt 9pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">Network Expenses:</p>
			</td>
		</tr>
		<tr>
			<td style="width: 30.4%; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt 0pt 0pt 9pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">Network, other costs</p>
			</td>
			<td style="width: 17.4%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">-</p>
			</td>
			<td style="width: 17.4%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">-</p>
			</td>
			<td style="width: 17.6%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">(2,261)</p>
			</td>
			<td style="width: 17.2%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">(1,405)</p>
			</td>
		</tr>
		<tr>
			<td style="width: 30.4%; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt 0pt 0pt 9pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">Network, depreciation and amortization costs</p>
			</td>
			<td style="width: 17.4%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">-</p>
			</td>
			<td style="width: 17.4%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">-</p>
			</td>
			<td style="width: 17.6%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">(1,170)</p>
			</td>
			<td style="width: 17.2%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">(362)</p>
			</td>
		</tr>
		<tr>
			<td style="width: 30.4%; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt 0pt 0pt 9pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">Total Network expenses</p>
			</td>
			<td style="width: 17.4%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">-</p>
			</td>
			<td style="width: 17.4%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">-</p>
			</td>
			<td style="width: 17.6%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">(3,431)</p>
			</td>
			<td style="width: 17.2%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">(1,767)</p>
			</td>
		</tr>
		<tr>
			<td style="width: 30.4%; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">&nbsp;</td>
			<td style="width: 17.4%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>
			</td>
			<td style="width: 17.4%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>
			</td>
			<td style="width: 17.6%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>
			</td>
			<td style="width: 17.2%; vertical-align: bottom; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>
			</td>
		</tr>
		<tr>
			<td style="width: 30.4%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt 0pt 0pt 9pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">Total revenue/gross margin</p>
			</td>
			<td style="width: 17.4%; vertical-align: top; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">84,223</p>
			</td>
			<td style="width: 17.4%; vertical-align: top; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">47,204</p>
			</td>
			<td style="width: 17.6%; vertical-align: top; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">21,347</p>
			</td>
			<td style="width: 17.2%; vertical-align: top; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">15,645</p>
			</td>
		</tr>

</table>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<div id="PGBK" style="width: 100%; margin-right: 0pt; margin-left: 0pt;">
<div id="PGNUM" style="width: 100%; text-align: center;">&nbsp;</div>

<hr style="border: currentColor; border-image: none; width: 100%; height: 2px; color: rgb(0, 0, 0); page-break-after: always; background-color: rgb(0, 0, 0);">
<div id="PGHDR" style="width: 100%; text-align: left;">&nbsp;</div>
</div>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&ldquo;<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">The second quarter of 2017 saw continued strong performance across all areas of the business our first full quarter following the Enom acquisition in January, which combined to drive year-over-year growth in revenue of 78% to a record $84 million, record earnings per share of $0.50 and cash flow from operations of more than $8.1 million,&rdquo; said Elliot Noss, President and Chief Executive Officer, Tucows Inc.</font></p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&ldquo;<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">We continue to execute well on each of our strategic initiatives. Our domains team made great progress on the integration of Enom toward significant future synergies and, in fact, exceeded our expectations year to date on organic growth. Our Ting Mobile business continued to add customers on the core base and saw the lowest monthly churn from our core base in two years. Ting Internet continued its steady climb in Charlottesville, ramped significantly in both Westminster, Maryland and Holly Springs, North Carolina and, most importantly, took meaningful operational steps toward scalability far beyond our existing Ting Towns.&rdquo;</font></p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;"><b>&nbsp;</b></p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;"><b>Financial Results</b></p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">Net revenue for the second quarter of 2017 increased 78% to $84.2 million from $47.2 million for the second quarter of 2016.</p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">Net income for the second quarter of 2017 increased 29% to 5.2 million, or $0.50 per share, from $4.1<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;"> million, or $0.39 per share, for the second quarter of 2016. Adjusted </font><font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">EBITDA</font><font style="font-family: Times New Roman, Times, serif; font-size: 10pt;"><sup>1</sup> for the second quarter of 2017 increased 50% to $10.3 million from $6.9 million for the second quarter of 2016. The increase in EBITDA was largely driven by the acquisition of Enom and to a lesser extent growth in the Company&rsquo;s Ting Mobile and incumbent Domains business. </font></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">Cash and cash equivalents at the end of the second quarter of 2017 were $15.1 million compared with $15.0 million at the end of the first quarter of 2017 and<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;"> $5.9 million at the end of the second quarter of 2016.</font></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;"><b>Notes:</b><font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</font></p>

<p style="font-family: Times New Roman, Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">1. Adjusted EBITDA</p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">Tucows reports all financial information required in accordance with United States generally accepted accounting principles (GAAP). Along with this information, to assist <font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">financial statement users in an assessment of our historical performance, the Company typically disclose and discuss a non-GAAP financial measure, adjusted EBITDA, on investor conference calls and related events that exclude certain non-cash and other charges as the Company believes that the non-GAAP information enhances investors&#39; overall understanding of our financial performance.</font></p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">The Company believes that the provision of this supplemental non-GAAP measure allows investors to evaluate the operational a<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">nd financial performance of the Company&rsquo;s core business using similar evaluation measures to those used by management. The Company uses adjusted EBITDA to measure its performance and prepare its budgets. Since adjusted EBITDA is a non-GAAP financial performance measure, the Company&rsquo;s calculation of adjusted EBITDA may not be comparable to other similarly titled measures of other companies; and should not be considered in isolation, as a substitute for, or superior to measures of financial performance prepared in accordance with GAAP. Because adjusted EBITDA is calculated before recurring cash charges, including interest expense and taxes, and is not adjusted for capital expenditures or other recurring cash requirements of the business, it should not be considered as a liquidity measure. Non-GAAP financial measures do not reflect a comprehensive system of accounting and may differ from non-GAAP financial measures with the same or similar captions that are used by other companies and/or analysts and may differ from period to period. The Company endeavors to compensate for these limitations by providing the relevant disclosure of the items excluded in the calculation of adjusted EBITDA to net income based on U.S. GAAP, which should be considered when evaluating the Company&#39;s results. Tucows strongly encourages investors to review its financial information in its entirety and not to rely on a single financial measure.</font></p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<div id="PGBK" style="width: 100%; margin-right: 0pt; margin-left: 0pt;">
<div id="PGNUM" style="width: 100%; text-align: center;">&nbsp;</div>

<hr style="border: currentColor; border-image: none; width: 100%; height: 2px; color: rgb(0, 0, 0); page-break-after: always; background-color: rgb(0, 0, 0);">
<div id="PGHDR" style="width: 100%; text-align: left;">&nbsp;</div>
</div>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">The Company<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">&rsquo;s adjusted EBITDA definition excludes depreciation, amortization of intangible assets, income tax provision, interest expense, interest income, stock-based compensation, asset impairment, gains and losses from unrealized foreign currency transactions and infrequently occurring items, including acquisition and transitions costs. Gains and losses from unrealized foreign currency transactions removes the unrealized effect of the change in the mark-to-market values on outstanding unhedged foreign currency contracts, as well as the unrealized effect from the translation of monetary accounts denominated in non-U.S. dollars to U.S. dollars.</font></p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">The following table reconciles net income to adjusted EBITDA (dollars in thousands):</p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<table border="0" cellpadding="2" cellspacing="0" id="TBL9" style="margin: 0pt 1%; width: 98%; text-indent: 0px; font-size: 10pt;">

		<tr>
			<td style="width: 34.8%; vertical-align: top; border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: thin; border-bottom-width: 1px; border-left-width: thin; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>
			</td>
			<td colspan="2" style="width: 32.5%; vertical-align: top; border-top-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-top-width: thin; border-bottom-width: 1px; border-left-width: thin; border-top-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">3 months ended June 30</p>
			</td>
			<td colspan="2" style="border-width: thin thin 1px; border-style: solid; border-color: rgb(0, 0, 0); width: 32.7%; vertical-align: top;">
			<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">6 months ended June 30*</p>
			</td>
		</tr>
		<tr>
			<td style="width: 34.8%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>
			</td>
			<td style="width: 16.1%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">2017 (unaudited)</p>
			</td>
			<td style="width: 16.3%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">2016 (unaudited)</p>
			</td>
			<td style="width: 16.3%; vertical-align: top; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">2017 (unaudited)</p>
			</td>
			<td style="width: 16.3%; vertical-align: top; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">2016 (unaudited<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">)</font></p>
			</td>
		</tr>
		<tr>
			<td style="width: 34.8%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt 0pt 0pt 9pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;"><b>Net income for the period </b></p>
			</td>
			<td style="width: 16.1%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">5,241</p>
			</td>
			<td style="width: 16.3%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4,071</p>
			</td>
			<td style="width: 16.3%; vertical-align: top; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">7,688</p>
			</td>
			<td style="width: 16.3%; vertical-align: top; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">8,509</p>
			</td>
		</tr>
		<tr>
			<td style="width: 34.8%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt 0pt 0pt 9pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">Depreciation of property and equipment</p>
			</td>
			<td style="width: 16.1%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;879</p>
			</td>
			<td style="width: 16.3%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;428</p>
			</td>
			<td style="width: 16.3%; vertical-align: top; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">1,636</p>
			</td>
			<td style="width: 16.3%; vertical-align: top; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">848</p>
			</td>
		</tr>
		<tr>
			<td style="width: 34.8%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt 0pt 0pt 9pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">Amortization of intangible assets</p>
			</td>
			<td style="width: 16.1%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">2,064</font></p>
			</td>
			<td style="width: 16.3%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt 0pt 0pt 36pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;288</p>
			</td>
			<td style="width: 16.3%; vertical-align: top; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt 0pt 0pt 36pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">3,825</p>
			</td>
			<td style="width: 16.3%; vertical-align: top; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt 0pt 0pt 36pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">357</p>
			</td>
		</tr>
		<tr>
			<td style="width: 34.8%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt 0pt 0pt 9pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">Impairm<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">ent of intangible assets</font></p>
			</td>
			<td style="width: 16.1%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p>
			</td>
			<td style="width: 16.3%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4</p>
			</td>
			<td style="width: 16.3%; vertical-align: top; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">-</p>
			</td>
			<td style="width: 16.3%; vertical-align: top; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">25</p>
			</td>
		</tr>
		<tr>
			<td style="width: 34.8%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt 0pt 0pt 9pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">Interest expense, net</p>
			</td>
			<td style="width: 16.1%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;970</p>
			</td>
			<td style="width: 16.3%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121</p>
			</td>
			<td style="width: 16.3%; vertical-align: top; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">1,838</p>
			</td>
			<td style="width: 16.3%; vertical-align: top; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">167</p>
			</td>
		</tr>
		<tr>
			<td style="width: 34.8%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt 0pt 0pt 9pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">Provision for income taxes</p>
			</td>
			<td style="width: 16.1%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">1,083</p>
			</td>
			<td style="width: 16.3%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">2,078</font></p>
			</td>
			<td style="width: 16.3%; vertical-align: top; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">958</p>
			</td>
			<td style="width: 16.3%; vertical-align: top; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">3,983</p>
			</td>
		</tr>
		<tr>
			<td style="width: 34.8%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt 0pt 0pt 9pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">Stock-based compensation</p>
			</td>
			<td style="width: 16.1%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;313</p>
			</td>
			<td style="width: 16.3%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190</font></p>
			</td>
			<td style="width: 16.3%; vertical-align: top; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">631</p>
			</td>
			<td style="width: 16.3%; vertical-align: top; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">390</p>
			</td>
		</tr>
		<tr>
			<td style="width: 34.8%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt 0pt 0pt 9pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">Unrealized loss (gain) on change in fair value of forward contracts</p>
			</td>
			<td style="width: 16.1%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20)</p>
			</td>
			<td style="width: 16.3%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(29)</p>
			</td>
			<td style="width: 16.3%; vertical-align: top; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">(38)</p>
			</td>
			<td style="width: 16.3%; vertical-align: top; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">(272)</p>
			</td>
		</tr>
		<tr>
			<td style="width: 34.8%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt 0pt 0pt 9pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">Unrealized loss (gain) on foreign exchange revaluation of foreign denominated monetary assets and liabilities</p>
			</td>
			<td style="width: 16.1%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(317)</font></p>
			</td>
			<td style="width: 16.3%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(246)</p>
			</td>
			<td style="width: 16.3%; vertical-align: top; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">(511)</p>
			</td>
			<td style="width: 16.3%; vertical-align: top; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">215</p>
			</td>
		</tr>
		<tr>
			<td style="width: 34.8%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt 0pt 0pt 9pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">Acquisition and transition costs**</p>
			</td>
			<td style="width: 16.1%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127</p>
			</td>
			<td style="width: 16.3%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</p>
			</td>
			<td style="width: 16.3%; vertical-align: top; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">509</p>
			</td>
			<td style="width: 16.3%; vertical-align: top; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">-</p>
			</td>
		</tr>
		<tr>
			<td style="width: 34.8%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>
			</td>
			<td style="width: 16.1%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>
			</td>
			<td style="width: 16.3%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>
			</td>
			<td style="width: 16.3%; vertical-align: top; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">&nbsp;</td>
			<td style="width: 16.3%; vertical-align: top; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">&nbsp;</td>
		</tr>
		<tr>
			<td style="width: 34.8%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt 0pt 0pt 9pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;"><b>Adjusted EBITDA</b></p>
			</td>
			<td style="width: 16.1%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10,340</p>
			</td>
			<td style="width: 16.3%; vertical-align: top; border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-bottom-width: 1px; border-left-width: thin; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6,905</p>
			</td>
			<td style="width: 16.3%; vertical-align: top; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-left-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-left-width: thin; border-right-style: solid; border-bottom-style: solid; border-left-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">16,536</p>
			</td>
			<td style="width: 16.3%; vertical-align: top; border-right-color: rgb(0, 0, 0); border-bottom-color: rgb(0, 0, 0); border-right-width: thin; border-bottom-width: 1px; border-right-style: solid; border-bottom-style: solid;">
			<p style="margin: 0pt; text-align: right; font-family: Times New Roman, Times, serif; font-size: 10pt;">14,222</p>
			</td>
		</tr>

</table>

<p style="margin: 0pt;">&nbsp;</p>

<div id="PGBK" style="width: 100%; margin-right: 0pt; margin-left: 0pt;">
<div id="PGNUM" style="width: 100%; text-align: center;">&nbsp;</div>

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<div id="PGHDR" style="width: 100%; text-align: left;">&nbsp;</div>
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<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<table border="0" cellpadding="2" cellspacing="0" id="TBL9" style="margin: 0pt 1%; width: 98%; text-indent: 0px; font-size: 10pt;">

		<tr>
			<td colspan="5" style="border-width: thin thin 1px; border-style: solid; border-color: rgb(0, 0, 0); width: 100%; vertical-align: top;">
			<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">*Adjusted EBITDA amounts presented herein for the six mo<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">nths ended June 30, 2016 have been recast to reflect adjusted EBITDA definitional changes described in the Company&rsquo;s Form 10-Q Quarterly Report for the three months ended September 30, 2016.</font></p>

			<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

			<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">**Acquisition and other costs represents transaction-related exp<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">enses, transitional expenses, such as duplicative post-acquisition expenses, related to our acquisition of eNom in January 2017. Expenses include severance or transitional costs associated with department, operational or overall company restructuring efforts, including geographic alignments.</font></p>
			</td>
		</tr>

</table>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">During 2016, the Company identified an immaterial error that affects the classification of certain marketing program costs. Prior to the third quarter of fiscal 2016, the Company recorded the cost for certain market<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">ing credits as Sales and marketing expense which should have been recorded as a reduction in Net revenue. The discussion presented here correctly reflect these marketing credits as a reduction in Net Revenues for all current and comparative periods. This resulted in a decrease in Net Revenues, and a corresponding decrease in Sales and marketing expenses of $0.3 million for the three months ended June 30, 2016 and $1.1 million for the six months ended June 30, 2016.</font></p>

<p style="margin: 0pt 15pt 0pt 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;"><b>Conference Call</b></p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">Tucows management will ho<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">st a conference call today, Tuesday, August 8, 2017 at 5:00 p.m. (ET) to discuss the Company&rsquo;s second quarter 2017 results. Participants can access the conference call by dialing 1-888-231-8191 or 647-427-7450 or via the Internet at <u>http://www.tucows.com/investors</u></font><font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">.</font></p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">For those unable to participate in the conference call at the scheduled time, it will be archived for replay both by telephone and via<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;"> the Internet beginning approximately one hour following completion of the call. To access the archived conference call by telephone, dial 416-849-0833 or 1-855-859-2056 and enter the passcode 59387346 followed by the pound key. The telephone replay will be available until Tuesday, August 15, 2017 at midnight. To access the archived conference call as an MP3 via the Internet, go to <u>http://www.tucows.com/investors</u></font><font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">.</font></p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;"><b>About Tucows</b></p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">Tucows is a provider of network access, domain names and other Internet services. Ting (https://ting.com) delivers mobile phone service and fixed Internet access with outstanding customer support. OpenSRS (http://opensrs.com) and Eno<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">m (http://www.enom.com) manage a combined 29 million domain names and millions of value-added services through a global reseller network of over 40,000 web hosts and ISPs. Hover (http://hover.com) makes it easy for individuals and small businesses to manage their domain names and email addresses. More information can be found on Tucows&rsquo; corporate website (<u>http://tucows.com</u></font><font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">).</font></p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</font></p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;"><i>This release includes forward-looking statements as that term is defined in the U.S. Private <font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">Securities Litigation Reform Act of 1995 including statements regarding our expectations regarding our future financial results and, including, without limitation, our expectation regarding our ability to manage realized gains/losses from foreign currency contracts. These statements are based on management&rsquo;s current expectations and are subject to a number of uncertainties and risks that could cause actual results to differ materially from those described in the forward-looking statements. Information about other potential factors that could affect Tucows&rsquo; business, results of operations and financial condition is included in the Risk Factors sections of Tucows&rsquo; filings with the Securities and Exchange Commission. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty. All forward-looking statements are based on information available to Tucows as of the date they are made. Tucows assumes no obligation to update any forward-looking statements, except as may be required by law.</font></i></p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

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<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">Tucows, Ting, OpenSRS, Enom and Hover are registered trademarks of Tucows Inc. or its subsidiaries.</p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;"><b>Contact:</b></p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">Lawrence Chamberlain</p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">(416) 519-4196</p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">lawrence.chamberlain@l<font style="font-family: Times New Roman, Times, serif; font-size: 10pt;">oderockadvisors.com</font></p>

<p style="margin: 0pt; text-align: left; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>

<p style="margin: 0pt; text-align: center; font-family: Times New Roman, Times, serif; font-size: 10pt;">&nbsp;</p>
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