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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium -- Ignore unavailable to you. Want to Upgrade?

To: puborectalis who wrote (82373)	3/3/2000 9:08:00 PM
From: puborectalis	Respond to of 108040

Wi-LAN.......Wi-LAN Announces Closing Of $31,350,000 Underwritten Special Warrant Financing CALGARY, ALBERTA-- FINANCING WILL BE USED TO ENHANCE WORKING CAPITAL FOR LARGER PROJECTS, INCREASE MARKETING AND RESEARCH AND DEVELOPMENT EXPLOITING ITS W-OFDM TECHNOLOGY LEADERSHIP, AND IMPROVE NEGOTIATING POWER FOR ANY LICENSING OR PARTNERSHIP DEALS Wi-LAN Inc. (TSE:WIN - news), an innovator of high-speed wireless data/Internet communications, today announced that its offering of 600,000 special warrants has closed. The offering was previously announced on February 17, 2000. The special warrants were issued at a price of $52.25 per special warrant for gross proceeds of $31,350,000. Seventy-five percent of the issue proceeds were released to Wi-LAN on closing and the balance will be held in trust pursuant to the Special Warrant Indenture creating the Special Warrants until the earlier of: (a) the issuance of receipts for Wi-LAN's qualifying prospectus, and (b) March 3, 2001. A syndicate led by CIBC World Markets Inc., and including Sprott Securities Limited, Yorkton Securities Inc. and Research Capital Corporation acted as underwriters for this financing. Wi-LAN will use the net proceeds of this offering to enhance working capital for larger projects, increase marketing and research and development exploiting its W-OFDM technology leadership, and improve negotiating power for any licensing or partnership deals.