Filed by TELUS Corporation
Pursuant to Rule 425
under the Securities Act
Subject Company:
Clearnet Communications Inc.
Telus Logo Clearnet Logo
January 18, 2001
TELUS acquires Clearnet Warrants as scheduled
Burnaby, British Columbia, and Scarborough, Ontario - TELUS Corporation (TSE: T,
T.A; T.db; NYSE: TU) and Clearnet Communications Inc. today announce that all of
the conditions of the TELUS Offer to Purchase all outstanding Clearnet Warrants
have been satisfied and TELUS will take-up and pay for the Clearnet Warrants
that have been deposited in accordance with the terms of the Offer.
The TELUS Offer resulted in the tender of 552,328 Clearnet Warrants,
representing 99.6% of the outstanding Clearnet Warrants. TELUS will be issuing
1.636 TELUS Warrants for each Clearnet Warrant taken up and paid for. Each TELUS
Warrant entitles the holder to acquire one TELUS Non-Voting Share at a price of
U.S. $10 per share up to September 15, 2005.
TELUS' intends to commence compulsory acquisition procedures under the Canada
Business Corporations Act to acquire the balance of the Clearnet Warrants not
acquired under the Offer.
TELUS Corporation is one of Canada's leading telecommunications companies
providing a full range of communications products and services that connect
Canadians to the world. The company generated $5.9 billion in revenues in 1999
and is the leading service provider in Western Canada. TELUS also provides
voice, data, Internet, advertising and wireless services to Central and Eastern
Canada. With the purchase of QuebecTel and national digital wireless company
Clearnet Communications Inc., TELUS is rapidly strengthening its position as a
leading national service provider. For more information about TELUS, visit
www.telus.com.
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For more information, please contact:
CLEARNET TELUS
Robert Mitchell Stan Fidyk
(416) 279-3219 (780) 493-7312
[email protected] [email protected]
Forward Looking Statements
Some statements in this document look forward in time and deal with other than
historical or current facts for TELUS. Such statements are qualified in their
entirety by the inherent risks and uncertainties surrounding future
expectations, including but not limited to the risks associated with: TELUS
completing all actions required to make the compulsory acquisition of the
Clearnet Warrant. For additional information with respect to certain of these
and other factors, see the reports filed by TELUS and Clearnet with Canadian
provincial securities commissions and the United States Securities and Exchange
Commission.
TELUS disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise.
