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Microcap & Penny Stocks : Bid.com International (BIDS) -- Ignore unavailable to you. Want to Upgrade?

To: waldo who wrote (992)	11/18/1998 9:20:00 AM
From: Jim P	Respond to of 37507

Bid.Com International Inc - Issuance of special warrants Bid.Com International Inc BIIShares issued 21,023,0001998-11-17 close $2.02Wednesday Nov 18 1998Mr. Paul Godin reports Bid.Com has entered into a bought deal agreement with Yorkton Securities in connection with the issue and sale of 5.7 million special warrants. The special warrants will be issued from treasury and sold at $1.75 per special warrant for approximately $10.0-million. Paul Godin and Jeffrey Lymburner have granted Yorkton Securities an option, exercisable until closing, to acquire up to an additional 400,000 special warrants. The transaction is subject to regulatory approval and is scheduled to close on or about Nov. 30, 1998. Subject to adjustment in certain events, each special warrant will entitle the holder to acquire, for no additional consideration, one unit consisting of one share and one-quarter of one warrant. Each whole warrant will be exercisable to acquire one share at $1.75 at any time prior to the date which is the earlier of (i) 10 days after the filing of a registration statement or preliminary prospectus for a U.S. public offering and (ii) Dec. 31, 1999. In the event that Bid.Com fails to obtain receipts for a final prospectus qualifying the distribution of the securities underlying the special warrants from applicable securities regulators prior to the date that is 90 days following the closing date, each special warrant will be exercisable to acquire 1.05 units (in lieu of one unit). Bid.Com intends to use the net proceeds from the offering for advertising and marketing, business-to-business development, research and development, working capital and prospective acquisitions. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com old url (better for printing)