Wi-LAN Inc.
TSX : WIN

Wi-LAN Inc.

May 29, 2006 17:18 ET

CORRECTION FROM SOURCE: Wi-LAN Inc. Announces $8 Million Bought Deal Private Placement

CALGARY, ALBERTA--(CCNMatthews - May 29, 2006) -

In the correction from source issued today at 3:36 p.m. ET, there was an error. Wellington West Capital Markets Inc. and Paradigm Capital Inc. will both co-lead a syndicate of underwriters in the announced financing, which will close on or about June 22nd, 2006. The revised and complete version follows.

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED OR INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR PUBLICATION OR DISSEMINATION IN THE UNITED STATES

Wi-LAN Inc. ("Wi-LAN" or the "Corporation") is pleased to announce that it has entered into a financing agreement with a syndicate of underwriters co-led by Wellington West Capital Markets Inc. and Paradigm Capital Inc., pursuant to which the underwriters have agreed to purchase 9,091,000 common shares ("Common Shares") of the Corporation on a bought deal private placement basis, at a price of $0.88 per Common Share for gross proceeds of approximately $8 million.

The offering is scheduled to close on or about June 22nd, 2006 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Toronto Stock Exchange. The Common Shares will be subject to a four-month hold period under applicable law.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

All trademarks and brands mentioned in this release are the property of their respective owners.

About Wi-LAN Inc.

Wi-LAN holds key patents in the areas of WiFi, CDMA2000, WCDMA and WiMAX. Wi-LAN has licensed its technology to many companies. Wi-LAN is a charter member of the WiMAX Forum (www.wimaxforum.org).

Contact Information

  • Wi-LAN Inc.
    Amir Nayeri
    Genoa Management
    1-866-430-6247
    Email: info@genoa.ca