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Non-Tech : BASIS100 BAS-TSE -- Ignore unavailable to you. Want to Upgrade?

To: topstock who wrote (58)	3/3/2000 4:53:00 PM
From: sPD	Respond to of 104

Great stuff - a buyback at virtually no cost! All startups should be as forward-thinking as BAS in terms of protecting their shareholders down the line. Basis100 Announces Reduction in Number of Outstanding Shares TSE: BAS SHARES OUTSTANDING: 22,078,996 TORONTO, March 3 /CNW/ - Basis 100 Inc. ("Basis100"), an Internet-based e-commerce solutions provider, announced today that the number of outstanding shares of the company has changed with the exercise of various warrants and the retraction of certain shares held by a party with whom Basis100 had a previous contractual agreement. As a result of an acquisition the company made prior to its listing on the TSE on October 25, 1999, Basis100 entered into an agreement under which Basis100 was eligible to redeem up to 700,000 shares for nominal consideration in the event certain price and liquidity targets were achieved. These price and liquidity targets were met and the full 700,000 shares were redeemed and cancelled on March 2, 2000. Upon cancellation of these shares and the exercise of various warrants, there are now 22,078,996 shares of Basis100 issued and outstanding. Basis100 also has 5,000,000 special warrants outstanding pursuant to a financing it closed on February 1, 2000. As previously announced, each of these special warrants is exercisable for no additional consideration to acquire one common share of Basis100. The special warrants will not be listed on any stock exchange. If a receipt for a final prospectus in certain jurisdictions in Canada is not received by the company within 120 days of the closing, each special warrant will be exercisable for no additional consideration to acquire 1.1 common shares of Basis100. A leading provider of Internet-based business-to-business e-commerce solutions, Basis100 focuses on creating mortgage, consumer credit, securitization, and fixed income electronic marketplaces. Basis100 provides its technology as a service to financial institutions, intermediaries, and service providers. This company relies on litigation protection in respect to certain forward-looking information and statements. Such information and statements may involve risks and uncertainties, including the impact of competitive products and pricing and general economic conditions as they affect the company and its customers. Actual results and developments may therefore differ materially from those described in this release. For further information: Lorelei Luchkiw, Director of Investor Relations, Basis100 Inc., (416) 364-6085 Ext: 170, email: lluchkiw@basis100.com