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Technology Stocks : Alphanet Telecom, WOW !
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To: Sushi who wrote (100)8/19/1998 3:00:00 PM
From: Sushi   of 117
 
Special warrant financing closed

Wed 19 Aug 98

Mr. Andre LeBel reports

AlphaNet Telecom has closed an equity financing of approximately
$21.4-million by a private placement of 1,338,000 special warrants at $16
on Aug. 18, 1998. The company granted an over allotment option of 200,000
special warrants at $16. Each warrant is exercisable for one share to be
qualified under a planned prospectus filing in certain Canadian provinces.
The proceeds will be used to further expand AlphaNet's international
telecommunications network.

HSBC Securities was retained as exclusive agent for the private placement.
Since the beginning of August, AlphaNet Telecom has added three points of
presence to its network and is now operational in 15 countries. With the
increasing liberalization of global markets, AlphaNet Telecom intends to
expand into additional countries in the coming months.

AlphaNet Telecom Inc TSE - FAX
Shares issued 8,363,780
Aug 18 close $16.00
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