Jeffrey
This is Groome Capital:
Thursday December 23, 7:39 am Eastern Time
Company Press Release
WaveRider Completes $10 Million Placement
Through Groome Capital.com Inc. and
Ladenburg Thalmann & Co., Inc
TORONTO--(BUSINESS WIRE)--Dec. 23, 1999--(OTC Bulletin Board:WAVC - news;
FRANKFURT:WVR) WaveRider Communications Inc. (OTC BB: WAVC, Frankfurt WVR.FSE), a
global provider of wireless Internet access products, today announced that investment bankers Groome
Capital.com Inc. and Ladenburg Thalmann & Co., Inc of New York have completed a $10 million
offering for the Company.
The proceeds of the offering will be used to repay the $1.5 million bridge loan arranged through
Ladenburg Thalmann in October and will provide working capital to finance the Company's growth as it
aggressively moves forward to roll out new products and expand on sales and marketing initiatives.
``This offering is an important milestone in WaveRider's continuing development,' said Scott
Worthington, WaveRider vice president, Finance and Administration. ``With this offering, and the support
of our investment bankers, we have seen the first strong backing of WaveRider by the long- term
institutional investors.'
``With the completion of this phase of our development, we can focus on the development of our wireless
Internet access products, while enhancing our sales and customer service throughout the world, expanding
our leadership role in this growing marketplace,' said WaveRider president and CEO Bruce Sinclair.
About WaveRider Communications Inc.
WaveRider Communications, Inc. (www.waverider.com) is a global wireless information technology
company that develops, manufactures and markets products for data communications and Wireless
Internet Networking (WIN). WaveRider's high performance products use frequency hopping and direct
sequence spread spectrum technology coupled with time division multiple access techniques and operate in
the license-free 900 MHz and 2.4 GHz ISM frequency bands. NCL Series Wireless Bridges and Routers
provide the wireless connection between single or multiple computer networks. Integrated network
management features ensure data is quickly forwarded to its intended destination based on network
conditions.
WaveRider's LMS (Last Mile Solution©) Product Family is wireless modems that offer high-speed
connections to the Internet for business and residential customers. WaveRider is a fully-reporting issuer
traded on the NASD-OTC BB, under the symbol WAVC.
About Groome Capital.com Inc.
Groome Capital is an independently owned securities boutique founded in July 1995 by its President,
Richard Groome, with offices in both Montreal and Toronto. Groome's focus is on expanding its
institutional and high net worth membership across Canada and abroad. Its emphasis is on emerging
growth companies across Canada and the United States. As a research driven firm, Groome Capital
operates in sectors where it can add value and deliver unbiased recommendations to its clientele. Groome
Capital is a member in good standing of the Investment Dealers Association of Canada (IDA) since
September 15, 1996 and the Canadian Investor Protection Fund (CIPF). At present, the firm holds seats
on the Toronto, Montreal and Alberta Stock Exchanges. For more information, go to
www.groomecapital.com.
About Ladenburg Thalmann & Co., Inc
Formed in 1876, Ladenburg Thalmann & Co., Inc is a full service broker, dealer and investment bank. By
the time Ladenburg Thalmann & Co., Inc joined The New York Stock Exchange in 1879, the firm had
already distinguished itself as one of the most respected private merchant banks and the principal financial
intermediary between America and Europe. Today, Ladenburg Thalmann & Co., Inc is entering the new
millennium as a full service financial institution that meets the varying investment needs of corporate,
institutional and individual clients. The firm is headquartered in New York with branch offices in Boca
Raton, Florida, Boston, Massachusetts and Cleveland, Ohio. For more information, go to
www.ladenburg.com.
This release contains forward-looking statements that involve risks and uncertainties, including the risks
associated with the effect of changing economic conditions, trends in the development of the Internet as a
commercial medium, market acceptance risks, technological development risks, seasonality and other risk
factors detailed in the Company's filings with the Securities and Exchange Commission.
Contact:
WaveRider Communications Inc.,
Tamara Potichny
or
Hugo Idler (IR), 888/533-1910
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