News Release Details

Wi-LAN Closes Transaction to Increase Interest in Digital Transmission Systems

06/16/2000


Purchase of Portion of Telcor Merger Closed

Calgary, Alberta
June 16, 2000

Wi-LAN Inc. (TSE:WIN), an innovator of high-speed wireless data/Internet communications, announced that it has closed the transaction to acquire an obligation in the amount of U.S.$6,100,000 from Wi-LAN's subsidiary, Digital Transmission Systems, Inc. (DTS). The transaction was announced on June 8, 2000.

The U.S.$6,100,000 represents the right of two former shareholders of Telcor Communications, Inc. to receive cash and/or common stock from DTS. This amount is approximately 31% of the obligation pursuant to the merger agreement among DTS, Telcor and the two former shareholders.

As part of the transaction, Wi-LAN paid the two former shareholders of Telcor U.S.$500,000 in cash, and issued a right to receive U.S.$5,600,000 of Wi-LAN common shares based on the market value of Wi-LAN shares at July 17, 2000, subject to a specified maximum number of shares. Wi-LAN may redeem all or part of the right for cash.

In addition, Wi-LAN granted the two former shareholders an option exercisable by August 31, 2000, to sell between U.S.$2,000,000 and U.S.$4,000,000 of additional merger consideration to Wi-LAN for the issuance of a right to receive Wi-LAN shares of equivalent value, based on the market value of Wi-LAN shares at October 30, 2000, subject to a specified maximum number of shares.

"This transaction strengthens Wi-LAN's ties with Telcor's co-founder, Lance Weller, who continues to play an important strategic role for both Wi-LAN and DTS," commented Hatim Zaghloul, CEO and Chairman of Wi-LAN Inc.

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