Wi-LAN Inc.

Wi-LAN Inc.

December 08, 2006 08:13 ET

WI-LAN Announces $30 Million Bought Deal Financing

OTTAWA, ONTARIO--(CCNMatthews - Dec. 8, 2006) -


Wi-LAN Inc. (TSX:WIN) announced today that it has entered into an agreement with a syndicate of underwriters led by CIBC World Markets Inc., and including Wellington West Capital Markets Inc., Paradigm Capital Inc., Haywood Securities Inc. and Dundee Securities Corporation, pursuant to which the underwriters have agreed to purchase, on a bought-deal basis, approximately 6,666,700 common shares of the Corporation at a purchase price of $4.50 per common share, for gross proceeds of $30 million. Wi-LAN plans to use the net proceeds of this financing for working capital and general corporate purposes.

The common shares to be issued under this offering will be offered by way of a short-form prospectus in all of the provinces in Canada (excluding Quebec) and in the United States on a private placement basis pursuant to an exemption from the registration requirements of the U.S. Securities Act of 1933, as amended.

The offering is scheduled to close on or about December 29, 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 and the securities regulatory authorities.

About Wi-LAN Inc.

Wi-LAN, which was founded in 1992, licenses intellectual property that drives a full range of products providing access to wireless and wireline telecommunications markets. Some of the fundamental technologies covered by Wi-LAN's patents include: CDMA, Wi-Fi, WiMAX and ADSL. Wi-LAN has already licensed its intellectual property to a number of major companies, including Cisco, Fujitsu and Nokia.

Forward-looking Information

Certain statements in this release, other than statements of historical fact, may include forward-looking information that involves various risks and uncertainties. These may include, without limitation, statements based on current expectations involving a number of risks and uncertainties related to all aspects of the wireless communications industry and the global economy. These risks and uncertainties include, but are not restricted to the enforceability of the Company's patents, the timing of the Company's ability to generate revenues and cash flows from licensing its patent portfolio, the implications of possible litigation regarding the licensing activities, the Company's ability to attract and retain key employees, the ability of the Company to raise capital or other forms of financing on acceptable terms when needed and potential changes in foreign currency rates. These risks and uncertainties may cause actual results to differ from information contained herein, when estimates and assumptions have been used to measure and report results. There can be no assurance that such forward-looking statements will prove to be accurate. Actual result and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.

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

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