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Microcap & Penny Stocks : WaveRider WAVC NASDAQ ISP Wide Area Wireless Internet

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To: Ron Everest who started this subject	6/5/2001 3:25:15 PM
From: Shumway	of 1848

WaveRider Signs US$10M Financing Agreement TORONTO--(BUSINESS WIRE)--June 5, 2001--WaveRider Communications Inc. (NASDAQ:WAVC - news) today announced it has signed a financing agreement with Crescent International Ltd. for up to (U.S.) $10 million over the next two years. The financing, arranged through WaveRider's investment banker, Gruntal & Co. LLC, includes an initial $3 million to be received on June 6, 2001, through the sale of convertible Preferred Stock. Subject to certain conditions, WaveRider may raise up to an additional $7 million through sales of shares of Common Stock. As part of the agreement, WaveRider has provided Crescent with 877,193 common stock purchase warrants, exercisable at $1.71 per share for a period of five years. ''WaveRider is aggressively executing our business plan and pursuing growth in our key markets globally,'' said Bruce Sinclair, President and CEO, WaveRider Communications Inc. ''The financing support we have received allows us to capitalize on the sales opportunities that have been generated through the launch of our new Last Mile Solution® and NCL products.''

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