News Release Details

Wi-LAN Annouces Issuance of Final Prospectus Receipts

05/11/2000


Net Proceeds Used to Enhance Working Capital for Larger Projects, Increase Marketing and Research and Development, and Improve Negotiating Power for Any Licensing or Partnership Deals

Calgary, Alberta
May 11, 2000

Wi-LAN Inc. (TSE:WIN), a leading wireless data/Internet communications company, today announced that it has obtained receipts for its final short form prospectus from the Alberta, British Columbia, Ontario and Quebec Securities Commissions. The final short form prospectus qualifies 600,000 Common Shares issuable upon exercise of outstanding Special Warrants of the Corporation for distribution in Alberta, British Columbia, Ontario and Quebec. The deemed exercise of the Special Warrants will occur effective 4:30 p.m. (Calgary time) on May 15, 2000, being five (5) business days from the issuance of the receipts for the Corporation's final short form prospectus. The Special Warrants were issued on March 3, 2000 at a price of $52.25 per Special Warrant for gross proceeds of $31,350,000. Three-quarters of the issued proceeds were released to Wi-LAN on closing, and the balance was released to Wi-LAN on May 11, 2000 pursuant to the Special Warrant Indenture creating the Special Warrants. 

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.

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