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FONIC EXTENDS ITS CLASS A REDEEMABLE WARRANT EXERCISE PERIOD UNTIL MAY 20, 1993

 FONIC EXTENDS ITS CLASS A REDEEMABLE WARRANT
 EXERCISE PERIOD UNTIL MAY 20, 1993
 NEW YORK, April 21 /PRNewswire/ -- Fonic, Inc. (NASDAQ: FONCF) today announced that it has extended the exercise period of its Class A redeemable warrants until May 20, 1993. The initial expiration date was May 20, 1992.
 Each warrant entitles its holder to purchase one share of Fonic's common stock at an exercise price of US$3.25 per share. Unless exercised by the warrantholder of unless the expiration date is again extended by Fonic's board of directors, each warrant will expire on May 20, 1993.
 The warrants are redeemable at any time by Fonic upon 30 days' notice to the warrantholders at a redemption price of US$.01 per warrant. Fonic will redeem the warrants only if a current registration statement is in effect with the Securities and Exchange Commission covering the shares of Fonic common stock underlying the warrants.
 American Bond Group, Inc. will act as solicitation agent for the warrants and will receive a 5 percent commission for each exercised warrant that it directly solicited. Other members of the National Association of Securities Dealers, Inc. (NASD) which solicit the exercise of warrants will be paid a 4 percent commission upon presentment to Continental Stock Transfer & Trust Company, Fonic's warrant agent, of a warrant certificate which is duly executed
by its warrantholder for exercise. American Bond Group will receive a


1 percent commission for each exercised warrant solicited by other NASD members. Marine Midland Bank, New York, will act as depository bank for the proceeds from the exercised warrants. Scharff, Witchel & Co., Inc., will act as information agent with regard to the warrants or their exercise. For information contact Sam Witchel, 212-983-1060, facsimile 212-983-1065.
 -0- 4/21/92
 /CONTACT: Sam Witchel of Scharff, Witchel & Co., 212-983-1060/
 (FONCF) CO: Fonic Inc. ST: New York IN: SU:


SH-CK -- NY037 -- 0526 04/21/92 10:37 EDT
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Apr 21, 1992
Words:318
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