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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Issuer
PURSUANT to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934
Filing No. 3 for the month of May, 2000
Bid.Com International Inc.
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(Exact name of Registrant)
6725 Airport Road, Suite 201, Mississauga ON, Canada L4V 1V2
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(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports
under cover Form 20-F or Form 40-F
Form 20-F X Form 40-F __
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes __ No X
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BID.COM INTERNATIONAL INC.
On May 19, 2000, Bid.Com International Inc. ("Bid.Com" or the "Company")
announced that it had entered into a private placement agreement with the Acqua
Wellington Value Fund Ltd. ("Acqua Wellington") for the sale of up to US$6.5
million in Units. This transaction is subject to regulatory and exchange
approvals.
Each Unit, priced in the context of the market, will entitle Acqua
Wellington to acquire one common share of Bid.Com and 0.40 of a common share
purchase warrant. Each whole share purchase warrant can be exercised to acquire
one additional common share, and will carry a term of 24 months. The Company
will use the net proceeds of the issue to fund its continuing growth in the
business-to-business sector and for general working capital purposes.
The securities comprising the Units will be sold in a private placement and
may not be resold in the United States or Canada unless registered or an
exemption from registration is available. The Company has agreed to use its
bests efforts to register the common shares and the common shares issuable upon
exercise of the warrants with the Securities and Exchange Commission.
This Form 6-K shall not constitute an offer to sell or the solicitation of
an offer to buy nor shall there be any sale of securities in any jurisdiction in
which such offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any jurisdiction.
This Form 6-K may include comments that do not refer strictly to historical
results or actions and may be deemed to be forward-looking within the meaning of
the Safe Harbor provisions of the U.S. federal securities laws. These include,
among others, statements about expectations of future revenues, cash flows, and
cash requirements. Forward-looking statements are subject to risks and
uncertainties that may cause Bid.Com's results to differ materially from
expectations. These risks include Bid.Com's ability to further develop its
business-to-business and licensing businesses, Bid.Com's ability to develop
appropriate strategic alliances and successful development and implementation of
technology, acceptance of Bid.Com's products and services, competitive factors,
new products and technological changes, and other such risks as Bid.Com may
identify and discuss from time to time, including those risks disclosed in
Bid.Com's most recent Form 20-F filed with the Securities and Exchange
Commission. Accordingly, there is no certainty that Bid.Com's plan will be
achieved.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
BID.COM INTERNATIONAL INC.
Date: May 22, 2000 By: /s/ John Mackie
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Name: John Mackie
Title: General Counsel
