(December 23) – Amalgamating companies, Canada Brokerlink Inc. and Vector Intermediaries Inc. are making changes to the letter of intent.

Under the revised agreement, the common shares of Vector and Brokerlink will be exchanged for shares in the new firm — one new common share for each Brokerlink common share and 0.3077 new common shares for each Vector common share.

Brokerlink is listed on the Toronto Stock Exchange. Vector is listed on the Canadian Venture Exchange. The new firm expects to list on the TSE and will continue to operate under the Brokerlink name.

Brokerlink shareholders will hold 67% of the new firm. Vector will hold the remaining 33%. That includes TD Capital Group Ltd. and Ontario Teachers’ Pension Plan Board holdings due to the exchange of approximately $20 million of convertible debentures owned by them. Under the previous terms Brokerlink would have held 63%. TD and the OTPPB would have controlled 15% each.

Concurrent with the deal Brokerlink will buyback $9 million worth of 9.5% subordinated debentures. Brokerlink will meet January 7, 2000 to vote on the deal. Vector meets February 22, 2000. It remains subject to shareholder and regulatory approval.