Wi-LAN Inc.

Wi-LAN Inc.

October 08, 2008 15:05 ET

Wi-LAN Announces Normal Course Issuer Bid

OTTAWA, CANADA--(Marketwire - Oct. 8, 2008) - Wi-LAN Inc. ("Wi-LAN" or the "Company") (TSX:WIN), a leading technology innovation company, today announced that it has received regulatory approval to make a normal course issuer bid through the facilities of the Toronto Stock Exchange (TSX). Wi-LAN is executing a normal course issue bid at this time as its Board and Management believe Wi-LAN's value is not adequately reflected in its current share price.

Under the normal course issuer bid, Wi-LAN will purchase up to 4,678,519 common shares, representing up to 5% of the 93,570,367 common shares currently issued and outstanding. The issuer bid is expected to commence on or about October 10, 2008 and will not extend beyond April 10, 2009. On any given day, Wi-LAN will not purchase more than 25% of the average daily trading volume for the last six months. Wi-LAN's average daily trading volume during this period was 255,845 common shares.

The purchase and payment for the common shares by Wi-LAN will be made in accordance with the requirements of the TSX. Any purchases will be made by Wi-LAN at the prevailing market prices of the common shares at the time of purchase. All common shares purchased will be cancelled. The actual number of common shares purchased, the timing of purchases and the price at which the common shares are bought will depend upon future market conditions and upon potential alternative uses for Wi-LAN's cash resources.

"We believe we can well afford to repurchase our own stock without affecting our business in any way," said Jim Skippen, President & CEO. "Wi-LAN's cash position has recently grown from approximately $92.5 million, reported as of the end of last quarter, to the current level of nearly $100 million. Over 140 companies have licensed our technologies and most of those agreements are long term running royalty type agreements. We also continue to sign license agreements at a dramatic pace, having already signed 67 license agreements this fiscal year alone. Our sales pipeline remains healthy and we expect to sign many additional licenses in the near future with companies of all sizes."

"Our business continues to perform very well in these difficult market conditions," added Skippen. "I have every confidence that even with a buyback, our cash position will remain strong and potentially increase during the period of the buyback."

About Wi-LAN

Wi-LAN, founded in 1992, is a leading technology innovation and licensing company. Our portfolio of patented inventions applies to a wide range of consumer electronics and communications products. Some of the fundamental technologies covered by Wi-LAN's patents include: CDMA, DOCSIS, DSL, GSM/EDGE, V-chip, Wi-Fi and WiMAX. Wi-LAN has a large and growing portfolio of more than 300 issued or pending patents. Wi-LAN has licensed its intellectual property to over 140 companies. For more information: www.wi-lan.com.

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 that face the Company; such statements may contain such words as "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, and may be based on management's current assumptions and expectations related to all aspects of the wireless and wireline telecommunications industries and the global economy. Risks and uncertainties that may face the Company include, but are not restricted to: licensing of the Company's patents can take an extremely long time and may be subject to variable cycles; the Company is currently reliant on licensees paying royalties under existing licensing agreements and additional licensing of its patent portfolio to generate future revenues and increased cash flows; the Company may be required to establish the enforceability of its patents in court in order to obtain material licensing revenues; changes in patent laws or in the interpretation or application of patent laws could materially adversely affect the Company; a court may determine that certain of the Company's patents are not infringed by certain standards or products or may disagree with management with respect to whether one or more of the Company's patents apply to certain standards or products, which could adversely affect the Company; the Company will need to acquire or develop new patents to continue and grow its business; the Company has made and may make acquisitions of technologies or businesses which could materially adversely affect the Company; the Company may require investment to translate its intellectual property position into sustainable profit in the market; the generation of future V-chip revenues and the likelihood of the Company signing additional V-chip licenses could be negatively impacted by changes in government regulation; the Company is dependent on its key officers and employees; and the price of the Company's common shares is volatile and subject to market fluctuation. These risks and uncertainties may cause actual results to differ from information contained in this release, when estimates and assumptions have been used to measure and report results. There can be no assurance that any statements of forward-looking information contained in this release will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral statements containing forward-looking information are based on the estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. Except as required by applicable laws, the Company assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change. Readers are cautioned not to place undue reliance on any statements of forward looking information that speak only as of the date of this release. Additional information identifying risks and uncertainties relating to the Company's business are contained under the heading "Risk Factors" in Wi-LAN's current Annual Information Form and its other filings with the various Canadian securities regulators which are available online at www.sedar.com.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States.

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

Contact Information

  • Wi-LAN Inc.
    Tyler Burns
    Director, Investor Relations & Communications
    Cell: 613-697-0367