Anticipated Timing For Mailing Of TLC's Offer To BeaconEye Shareholders.MISSISSAUGA, Ontario--(BUSINESS WIRE)--March 17, 1998--TLC The Laser Center(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :LZR.) (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :LZRCF) TLC TLC total lung capacity; thin-layer chromatography. TLC abbr. 1. thin-layer chromatography 2. The Laser Center Inc. ("TLC") announced today that it intends to mail its offer (the "Offer") to the shareholders of BeaconEye Inc. ("BeaconEye") to acquire all of the outstanding common shares of BeaconEye (the "Shares") at a price of $1.50 per Share payable in TLC common shares by Friday March 20, 1998 rather than March 16, 1998 as originally expected. TLC has asked BeaconEye for an extension of the deadline for mailing the Offer set out in the support agreement (the "Support Agreement") to March 20, 1998 from March 16, 1998. TLC will be requesting similar extensions from the shareholders with whom it has entered into lock-up agreements Lock-Up Agreement A legally binding contract between the underwriters and insiders of a company prohibiting these individuals from selling any shares of stock for a specified period of time. . Consistent with the Support Agreement, TLC is managing BeaconEye and in this regard has funded operations for approximately $2.3 million to date to pay past due BeaconEye obligations. CONTACT: TLC The Laser Center Inc. Stephen Kilmer, 905/ 602-2020 ext. 235 or 1-800-TLC-1033 Email: investor.relations@lzr.com Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the : http://www.lzr.com |
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