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Technology Stocks : Wi-LAN Inc. (T.WIN) -- Ignore unavailable to you. Want to Upgrade?

To: Cyrus who wrote (436)	7/20/1999 11:02:00 PM
From: Hatim Zaghloul	Respond to of 16863

Cyrus, Thanks for your interest. I believe that Sprott has already sold the special warrants. This was a "bought" deal; meaning that Wi-LAN receives the money from the brokers and it is the brokers' job to sell the securities. It is normal that such an offering was totally committed before the offer was made to Wi-LAN. In short, I do not believe that the warrants will be available for sale to the public at large. I cannot give too many details; each warrant is convertible to a single common share. It is customary in these situations that if Wi-LAN does not meet certain conditions (TSE listing and clearing a prospectus in Ontario) by a certain date that a penalty of 10% is levied. This penalty gives Wi-LAN an incentive to speed the TSE and prospectus processes. Thanks again, Hatim