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Technology Stocks : Storage One...SOJ on Alberta -- Ignore unavailable to you. Want to Upgrade?

To: bob bundy who wrote (87)	2/19/1999 9:20:00 PM
From: Skipper	Read Replies (1) \| Respond to of 394

STORAGE ONE INC. STORAGE ONE INC. - ANNOUNCEMENT REGARDING SHARE PURCHASE WARRANTS Article #: 27375 Date: 2/19/99 4:20:08 PM Dateline: TORONTO, ONTARIO Stock Symbol: SOJ Wire: ISDN Storage One Inc. ("Storage") (ASE: SOJ) announces that it has reserved a price of $0.59 per share for up to 400,000 common shares to be issued upon exercise of 400,000 share purchase warrants of Storage (the "Warrants") to be issued in connection with a proposed investment to acquire 15% of a private company developing an e-commerce web site (the "Proposed Investment"). Each Warrant will be transferrable and will entitle the holder to purchase one common share of Storage at an exercise price of $0.59 per share for a period of two (2) years from the date of issuance. The Proposed Investment will be the first investment of SOI Invests, the new division of Storage that is to provide both capital and access to the development services of Rollercoaster Studios Inc. (the proposed new acquisition of Storage), for companies that want to promote and sell their products over the Internet. Storage also announces it has reserved a price of $0.59 per share for 42,373 common shares to be issued as a finder's fee in connection with the Proposed Investment Storage also announces that it has reserved a discounted price of $0.50 per share for up to 200,000 common shares to be issued as a finder's fee in connection with the previously announced proposed acquisition of all of the issued and outstanding shares of Rollercoaster Studios Inc. The completion of the issuance of the Warrants and payment of the finder's fees are subject to regulatory approval and Storage is required to file a formal application with The Alberta Stock Exchange within 14 calendar days of this press release. Storage provides leading edge and proven storage technology peripherals and devices to value added resellers, system integrators and original equipment manufacturers. Storage is currently revising its business model to harness the distribution capabilities of the Internet. Historically, Peripherals Place (http://www.peripheralsplace.com has been Storage's Web destination for the marketing and distribution of Storage's end-of-line products and excess inventory, however, the site is currently dormant. Storage is currently creating a total e-commerce solution for Storage through the enhancement of the Peripherals Place destination and make it the primary vehicle for the sales of Storage's new data storage products. In accordance with the initial public offering prospectus of Storage dated August 18, 1997, Storage intends to continue to review potential strategic acquisitions. The Alberta Stock Exchange has neither approved nor disapproved of the information contained herein. For further information contact: John A. McMahon, Chairman Storage One Inc. c/o Suite 3100, P.O. Box 830 BCE Place, 181 Bay Street Toronto, ON M5J 2T3 Telephone: (416) 864-3545