NEITHER  THIS  WARRANT  NOR THE  COMMON  STOCK  WHICH MAY BE  ACQUIRED  UPON THE
EXERCISE HEREOF HAS BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED
(THE  "ACT"),  OR UNDER  THE  SECURITIES  LAWS OF ANY STATE AND MAY NOT BE SOLD,
PLEDGED,  TRANSFERRED  OR ASSIGNED IN THE ABSENCE OF AN  EFFECTIVE  REGISTRATION
STATEMENT WITH RESPECT  THERETO UNDER THE ACT AND COMPLIANCE WITH ANY APPLICABLE
STATE  SECURITIES  LAW,  OR UNLESS THE  COMPANY  RECEIVES AN OPINION OF COUNSEL,
SATISFACTORY TO THE COMPANY, THAT SUCH REGISTRATION IS NOT REQUIRED.

VOID AFTER 5:00 P.M. EASTERN TIME, APRIL 6, 2005
                                                             For the Purchase of
                                                               200,000 shares of
                                                                    Common Stock



                           WARRANT FOR THE PURCHASE OF
                             SHARES OF COMMON STOCK
                                       OF
                              INFOCAST CORPORATION

                             (A Nevada corporation)


            Infocast Corporation,  a Nevada corporation (the "Company"),  hereby
certifies that for value received,  SmallCaps  Online Group LLC (the "Registered
Holder"),  residing at 1285 Avenue of the Americas,  35th Floor,  New York,  NY,
10019,  is entitled,  subject to the terms set forth below, to purchase from the
Company, pursuant to this Warrant ("Warrant"),  at any time or from time to time
on or after April 7, 2000,  and at or before 5:00 p.m.,  Eastern Time,  April 6,
2005 ("Expiration  Date"),  but not thereafter,  200,000 shares of Common Stock,
$.001 par value,  of the  Company  ("Common  tock"),  at a  purchase  price (the
"Purchase Price") equal to $6.50 per share of Common Stock. The number of shares
of Common Stock  purchasable  upon  exercise of this  Warrant,  and the purchase
price per share,  each as adjusted from time to time pursuant to the  provisions
of this Warrant,  are  hereinafter  referred to as the "Warrant  Shares" and the
"Purchase Price," respectively.

            1. Exercise.

               (a) This Warrant may be exercised by the  Registered  Holder,  in
whole or in part,  by the surrender of this Warrant (with the Notice of Exercise
Form attached hereto as Exhibit I duly executed, completed and delivered by such
Registered  Holder) at the  principal  office of the  Company,  or at such other
office or agency as the Company may  designate,  accompanied by payment in full,
in lawful money of the United States,  of an amount equal to the then applicable
Purchase Price  multiplied by




<PAGE>

the number of Warrant Shares then being  purchased  upon such  exercise.  If the
rights represented hereby shall not be exercised at or before 5:00 p.m., Eastern
Time, on the Expiration  Date, this Warrant shall become and be void and without
further  force or effect,  and all rights  represented  hereby  shall  cease and
expire.

               (b) Each  exercise of this  Warrant  shall be deemed to have been
effected  immediately  prior to the close of  business  on the day on which this
Warrant  shall have been  surrendered  to the Company as provided in  subsection
l(a)  above.  At such  time,  the  person or  persons in whose name or names any
certificates for Warrant Shares shall be issuable upon such exercise as provided
in  subsection  I (c) below shall be deemed to have become the holder or holders
of record of the Warrant Shares represented by such certificates.

               (c) As soon as  practicable  after the  exercise of the  purchase
right represented by this Warrant,  the Company at its expense will use its best
efforts to cause to be issued in the name of the Registered Holder and delivered
to you:

                   (i) a  certificate  or  certificates  for the  number of full
shares of Warrant Shares to which such Registered  Holder shall be entitled upon
such exercise  plus, in lieu of any  fractional  share to which such  Registered
Holder would otherwise be entitled,  a Warrant Share  representing the remainder
of the fractional share to the next whole Warrant Share, and

                   (ii) in case such  exercise is in part only, a new warrant or
warrants  (dated the date  hereof) of like  tenor,  stating on the face or faces
thereof the number of shares  currently stated on the face of this Warrant minus
the number of such shares purchased by the Registered  Holder upon such exercise
as provided in subsection l(a) above.

            2. Adjustments.

               (a)  Split,   Subdivision  or  Combination  of  Shares.   If  the
outstanding  shares of the Company's Common Stock at any time while this Warrant
remains  outstanding  and unexpired  shall be subdivided or split into a greater
number of shares,  or a  dividend  in Common  Stock  shall be paid in respect of
Common Stock, or a similar change in the Company's  capitalization  occurs which
affects the  outstanding  Common Stock,  as a class,  then the Purchase Price in
effect  immediately  prior to such  subdivision  or at the  record  date of such
dividend shall,  simultaneously  with the  effectiveness  of such subdivision or
split or  immediately  after the record date of such  dividend  (as the case may
be), be  proportionately  decreased.  If the outstanding  shares of Common Stock
shall be combined or reverse-split into a smaller number of shares, the Purchase
Price in effect  immediately  prior to such  combination or reverse split shall,
simultaneously  with the  effectiveness of such combination or reverse split, be


                                      -2-
<PAGE>

proportionately  increased.  When any  adjustment  is required to be made in the
Purchase  Price,  the number of shares of Warrant  Shares  purchasable  upon the
exercise of this Warrant  shall be changed to the number  determined by dividing
(i) an amount equal to the number of shares  issuable  upon the exercise of this
Warrant  immediately prior to such adjustment,  multiplied by the Purchase Price
in effect  immediately  prior to such adjustment,  by (ii) the Purchase Price in
effect immediately after such adjustment.

               (b) Reclassification, Reorganization, Consolidation or Merger. In
the case of any  reclassification  of the  Common  Stock or any  reorganization,
consolidation or merger of the Company with or into another  corporation  (other
than a merger  or  reorganization  with  respect  to which  the  Company  is the
continuing  corporation and which does not result in any reclassification of the
Common Stock),  or a transfer of all or  substantially  all of the assets of the
Company, or the payment of a liquidating  distribution then, as part of any such
reorganization,  reclassification,  consolidation,  merger,  sale or liquidating
distribution,  the Company shall arrange for the other party to the  transaction
to agree to, and lawful  provision shall be made, so that the Registered  Holder
of this  Warrant  shall have the right  thereafter  to receive upon the exercise
hereof (to the extent, if any, still exercisable), the kind and amount of shares
of stock or other securities or property which such Registered Holder would have
been  entitled  to receive  if,  immediately  prior to any such  reorganization,
reclassification,  consolidation,  merger, sale or liquidating distribution,  as
the case may be, such Registered  Holder had held the number of shares of Common
Stock which were then purchasable upon the exercise of this Warrant. In any such
case, appropriate adjustment (as reasonably determined by the Board of Directors
of the Company)  shall be made in the  application  of the  provisions set forth
herein with respect to the rights and  interests  thereafter  of the  Registered
Holder of this  Warrant  such that the  provisions  set forth in this  Section 2
(including  provisions with respect to the Purchase  Price) shall  thereafter be
applicable, as nearly as is reasonably practicable, in relation to any shares of
stock or other securities or property  thereafter  deliverable upon the exercise
of this Warrant.

            3 Limitation on Sales. Each holder of this Warrant acknowledges that
this  Warrant  and the  Warrant  Shares  have  not  been  registered  under  the
Securities Act of 1933, as now in force or hereafter  amended,  or any successor
legislation (the "Act"), and agrees not to sell, pledge,  distribute,  offer for
sale, transfer or otherwise dispose of this Warrant or any Warrant Shares issued
upon its  exercise in the  absence of (a) an  effective  registration  statement
under the Act as to this  Warrant or such  Warrant  Shares and  registration  or
qualification  of this Warrant or such Warrant Shares under any applicable  Blue
Sky or state  securities  law  then in  effect  or (b) an  opinion  of  counsel,
satisfactory to the Company,  that such  registration and  qualification are not
required. Without limiting the generality of the foregoing,  unless the offering
and sale of the Warrant Shares to be issued upon the particular  exercise of the
Warrant shall have been effectively  registered under the Act, the Company shall
be under no obligation to

                                      -3-

<PAGE>

issue the shares covered by such exercise unless and until the Registered Holder
shall have executed an investment  letter in form and substance  satisfactory to
the  Company,  including  a  warranty  at the time of such  exercise  that it is
acquiring  such shares for its own  account,  and will not  transfer the Warrant
Shares unless pursuant to an effective and current registration  statement under
the Act or an exemption from the  registration  requirements  of the Act and any
other  applicable  restrictions,  in which event the Registered  Holder shall be
bound by the  provisions  of a legend or legends to such  effect  which shall be
endorsed upon the certificate(s) representing the Warrant Shares issued pursuant
to such  exercise.  The Warrant  Shares  issued upon  exercise  thereof shall be
imprinted with legends in substantially the following form:

            "THE SECURITIES  REPRESENTED BY THIS  CERTIFICATE HAVE NOT
            BEEN  REGISTERED  UNDER  THE  SECURITIES  ACT OF 1933,  AS
            AMENDED ("ACT"),  OR APPLICABLE STATE SECURITIES LAWS, AND
            MAY NOT BE SOLD, PLEDGED OR OTHERWISE  TRANSFERRED WITHOUT
            AN EFFECTIVE  REGISTRATION  STATEMENT WITH RESPECT THERETO
            UNDER  THE  ACT  OR  PURSUANT  TO AN  EXEMPTION  FROM  THE
            REGISTRATION  REQUIREMENTS OF SAID ACT AND COMPLIANCE WITH
            ANY APPLICABLE STATE SECURITIES LAW, OR UNLESS THE COMPANY
            RECEIVES  AN  OPINION  OF  COUNSEL,  SATISFACTORY  TO  THE
            COMPANY AND ITS  COUNSEL,  THAT SUCH  REGISTRATION  IS NOT
            REQUIRED."

            4  Notices of Record Date. In case:

               (a) the Company  shall take a record of the holders of its Common
Stock (or other stock or securities at the time deliverable upon the exercise of
this  Warrant)  for the purpose of  entitling  or  enabling  them to receive any
dividend or other  distribution  (other than a dividend or distribution  payable
solely  in  capital  stock  of the  Company  or out of funds  legally  available
therefor),  or to receive any right to  subscribe  for or purchase any shares of
any class or any other securities, or to receive any other right, or

               (b)  of  any  capital   reorganization   of  the   Company,   any
reclassification  of the capital  stock of the  Company,  any  consolidation  or
merger  of  the  Company  with  or  into  another   corporation  (other  than  a
consolidation  or merger in which the Company is the surviving  entity),  or any
transfer of all or substantially all of the assets of the Company, or

               (c) of the voluntary or involuntary  dissolution,  liquidation or
winding-up of the Company,

then,  and in each such case, the Company will mail or cause to be mailed to the
Registered Holder of this Warrant a notice  specifying,  as the case may be, (i)
the date


                                      -4-
<PAGE>

on which a record is to be taken for the purpose of such dividend,  distribution
or right, and stating the amount and character of such dividend, distribution or
right,   or  (ii)   the   effective   date   on   which   such   reorganization,
reclassification,  consolidation,  merger, transfer, dissolution, liquidation or
winding-up is to take place,  and the time,  if any is to be fixed,  as of which
the holders of record of Common Stock (or such other stock or  securities at the
time  deliverable  upon the  exercise  of this  Warrant)  shall be  entitled  to
exchange  their shares of Common Stock (or such other stock or  securities)  for
securities   or   other   property   deliverable   upon   such   reorganization,
reclassification,  consolidation,  merger, transfer, dissolution, liquidation or
winding-up.  Such  notice  shall be mailed  at least ten (10) days  prior to the
record date or effective date for the event  specified in such notice,  provided
that the failure to mail such notice  shall not affect the  legality or validity
of any such action.

            5  Reservation  of Stock.  The Company will at all times reserve and
keep  available,  solely for  issuance  and  delivery  upon the exercise of this
Warrant, such shares of Warrant Shares and other stock, securities and property,
as from time to time shall be issuable upon the exercise of this Warrant.

            6  Replacement  of  Warrants.  Upon  receipt of evidence  reasonably
satisfactory  to the Company of the loss,  theft,  destruction  or mutilation of
this Warrant and (in the case of loss, theft or destruction) upon delivery of an
indemnity agreement (with surety if reasonably required) in an amount reasonably
satisfactory to the Company,  or (in the case of mutilation)  upon surrender and
cancellation  of this Warrant,  the Company will issue,  in lieu thereof,  a new
Warrant of like tenor.

            7 Non-transferability of Warrants.  This Warrant is not transferable
and may be  exercised  solely by the  Registered  Holder  during his lifetime or
after his death by the person or persons  entitled thereto under his will or the
laws of descent and  distribution.  Any attempt to transfer,  assign,  pledge or
otherwise dispose of, or to subject to execution, attachment or similar process,
this Warrant contrary to the provisions hereof shall be void and ineffective and
shall give no right to the purported transferee.

            8 No Rights as Shareholder.  Until the exercise of this Warrant, the
Registered  Holder of this  Warrant  shall not have or  exercise  any  rights by
virtue hereof as a shareholder of the Company.

            9 Change or  Waiver.  Any term of this  Warrant  may be  changed  or
waived  only by an  instrument  in  writing  signed by the party  against  which
enforcement of the change or waiver is sought.

            10  Headings.  The  headings  in this  Warrant  are for  purposes of
reference  only and shall not  limit or  otherwise  affect  the  meaning  of any
provision of this Warrant.
                                      -5-

<PAGE>

            11 Governing Law. This Warrant shall be governed by and construed in
accordance  with the laws of the State of Nevada  as such  laws are  applied  to
contracts  made and to be fully  performed  entirely  within that state  between
residents of that state.

            12 Mailing of Notices,  etc.  All  notices and other  communications
under  this  Warrant  (except   payment)  shall  be  in  writing  and  shall  be
sufficiently  given if delivered to the addressees in person, by Federal Express
or similar  receipt  delivery,  by  facsimile  delivery  or, if mailed,  postage
prepaid, by certified mail, return receipt requested, as follows:

Registered Holder:      To his or her address on page 1 of this Warrant.

The Company:            Infocast Corporation
                        One Richmond Street West
                        Suite 902
                        Toronto, Ontario M5H3W4
                        Canada
                        Attn: Chief Financial Officer



with a copy to:

                        Olshan Grundman Frome Rosenzweig & Wolosky LLP
                        505 Park Avenue
                        New York, New York 10022
                        Attn: Jeffrey S. Spindler, Esq.

or to such other  address as any of them,  by notice to the others may designate
from time to time.  Time shall be counted  to, or from,  as the case may be, the
delivery in person or by mailing.

                                        INFOCAST CORPORATION




                                        By:
Date: April 7, 2000                     Name:
                                             Title:


                                      -6-
<PAGE>

                                                                       EXHIBIT I

                               NOTICE OF EXERCISE

TO:         Infocast Corporation
            One Richmond Street West
            Suite 902
            Toronto, Ontario M5H3W4
            Canada

            1. The undersigned  hereby elects to purchase  _______ shares of the
Common Stock of Infocast Corporation, pursuant to terms of the attached Warrant,
and tenders  herewith  payment of $________ in payment of the purchase  price of
such shares in full, together with all applicable transfer taxes, if any.

            2. Please issue a  certificate  or  certificates  representing  said
shares of the Common Stock in the name of the undersigned.

            3. The undersigned represents that it will sell the shares of Common
Stock only pursuant to an effective  Registration Statement under the Securities
Act of 1933, as amended, or an exemption from registration thereunder.


                                                (Name)


                                                (Address)






                                                (Taxpayer Identification Number)


[print name of Registered Holder]

By:

Title:

Date: