<PAGE>

                                   EXHIBIT 4.5

                                                                        ANNEX VI
                                                                              TO
                                                   SECURITIES PURCHASE AGREEMENT
                                                   [PROTOTYPE FOR EACH ISSUANCE]


                                 FORM OF WARRANT

         THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
         1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE AND MAY NOT BE
         SOLD OR OFFERED FOR SALE IN THE ABSENCE OF AN EFFECTIVE REGISTRATION
         STATEMENT FOR THE SECURITIES OR AN OPINION OF COUNSEL OR OTHER EVIDENCE
         ACCEPTABLE TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.


                       COMPUTERIZED THERMAL IMAGING, INC.

                          COMMON STOCK PURCHASE WARRANT

         1. ISSUANCE; CERTAIN DEFINITIONS. In consideration of good and valuable
consideration, the receipt of which is hereby acknowledged by COMPUTERIZED
THERMAL IMAGING, INC., a Nevada corporation (the "Company BEACH BOULEVARD,
L.L.C. or registered assigns (the "Holder") is hereby granted the right to
purchase at any time until 5:00 P.M., New York City time, on December 31, 2007
(the "Expiration Date"), Thousand (641,026) fully paid and nonassessable shares
of the Company's Common Stock, $0.001 par value per share (the "Common Stock"),
at an initial exercise price per share (the "Exercise Price") of $1.95 per
share, subject to further adjustment as set forth herein. This Warrant is being
issued pursuant to the terms of that certain Securities Purchase Agreement,
dated as of December 20, 2001 (the "Agreement"), to which the Company and Holder
(or Holder's predecessor in interest) are parties. Capitalized terms not
otherwise defined herein shall have the meanings ascribed to them in the
Agreement.

         2.   EXERCISE OF WARRANTS.

              2.1 GENERAL.

              (a) This Warrant is exercisable in whole or in part at any time
and from time to time. Such exercise shall be effectuated by submitting to the
Company (either by delivery to the Company or by facsimile transmission as
provided in Section 8 hereof) a completed and duly executed Notice of Exercise
(substantially in the form attached to this Warrant Certificate) as provided in
this paragraph. The date such Notice of Exercise is faxed to the Company shall
be the "Exercise Date," provided that the Holder of this Warrant tenders this

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Warrant Certificate to the Company within five (5) business days thereafter. The
Notice of Exercise shall be executed by the Holder of this Warrant and shall
indicate the number of shares then being purchased pursuant to such exercise.
Upon surrender of this Warrant Certificate, together with appropriate payment of
the Exercise Price for the shares of Common Stock purchased, the Holder shall be
entitled to receive a certificate or certificates for the shares of Common Stock
so purchased.

              (b) If the Notice of Exercise form elects a "cashless" exercise,
the Holder shall thereby be entitled to receive a number of shares of Common
Stock equal to (x) the excess of the Current Market Value (as defined below)
over the total cash exercise price of the portion of the Warrant then being
exercised, divided by (y) the Market Price of the Common Stock as of the trading
day immediately prior to the Exercise Date. For the purposes of this Warrant,
the terms (Q) "Current Market Value" shall be an amount equal to the Market
Price of the Common Stock as of the trading day immediately prior to the
Exercise Date, multiplied by the number of shares of Common Stock specified in
such Notice of Exercise Form, and (R) "Market Price of the Common Stock" shall
be the closing price of the Common Stock as reported by the Reporting Service
for the relevant date.

              (c) If the Notice of Exercise form elects a "cash" exercise, the
Exercise Price per share of Common Stock for the shares then being exercised
shall be payable in cash or by certified or official bank check.

              (d) The Holder shall be deemed to be the holder of the shares
issuable to it in accordance with the provisions of this Section 2.1 on the
Exercise Date.

              2.2 LIMITATION ON EXERCISE. Notwithstanding the provisions of this
Warrant, the Agreement or of the other Transaction Agreements, in no event
(except (i) as specifically provided in this Warrant as an exception to this
provision, (ii) while there is outstanding a tender offer for any or all of the
shares of the Company's Common Stock, or (iii) at the Holder's option, on at
least sixty-five (65) days' advance written notice from the Holder) shall the
Holder be entitled to exercise this Warrant, or shall the Company have the
obligation to issue shares upon such exercise of all or any portion of this
Warrant to the extent that, after such exercise the sum of (1) the number of
shares of Common Stock beneficially owned by the Holder and its affiliates
(other than shares of Common Stock which may be deemed beneficially owned
through the ownership of the unexercised portion of the Warrants or other rights
to purchase Common Stock or through the ownership of the unconverted portion of
the Debentures or other convertible securities), and (2) the number of shares of
Common Stock issuable upon the exercise of the Warrants with respect to which
the determination of this proviso is being made, would result in beneficial
ownership by the Holder and its affiliates of more than 4.99% of the outstanding
shares of Common Stock (after taking into account the shares to be issued to the
Holder upon such exercise). For purposes of the proviso to the immediately
preceding sentence, beneficial ownership shall be determined in accordance with
Section 13(d) of the Securities Exchange Act of 1934, as amended (the "1934

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Act"), except as otherwise provided in clause (1) of such sentence. The Holder,
by its acceptance of this Warrant, further agrees that if the Holder transfers
or assigns any of the Warrants to a party who or which would not be considered
such an affiliate, such assignment shall be made subject to the transferee's or
assignee's specific agreement to be bound by the provisions of this Section 2.2
as if such transferee or assignee were the original Holder hereof.

         3. RESERVATION OF SHARES. The Company hereby agrees that at all times
during the term of this Warrant there shall be reserved for issuance upon
exercise of this Warrant such number of shares of its Common Stock as shall be
required for issuance upon exercise of this Warrant (the "Warrant Shares").

         4. MUTILATION OR LOSS OF WARRANT. Upon receipt by the Company of
evidence satisfactory to it of the loss, theft, destruction or mutilation of
this Warrant, and (in the case of loss, theft or destruction) receipt of
reasonably satisfactory indemnification, and (in the case of mutilation) upon
surrender and cancellation of this Warrant, the Company will execute and deliver
a new Warrant of like tenor and date and any such lost, stolen, destroyed or
mutilated Warrant shall thereupon become void.

         5. RIGHTS OF THE HOLDER. The Holder shall not, by virtue hereof, be
entitled to any rights of a stockholder in the Company, either at law or equity,
and the rights of the Holder are limited to those expressed in this Warrant and
are not enforceable against the Company except to the extent set forth herein.

         6. PROTECTION AGAINST DILUTION AND OTHER ADJUSTMENTS.

              6.1 ADJUSTMENT MECHANISM. If an adjustment of the Exercise Price
is required pursuant to this Section 6, the Holder shall be entitled to purchase
such number of additional shares of Common Stock as will cause (i) the total
number of shares of Common Stock Holder is entitled to purchase pursuant to this
Warrant, multiplied by (ii) the adjusted Exercise Price per share, to equal
(iii) the dollar amount of the total number of shares of Common Stock Holder is
entitled to purchase before adjustment multiplied by the total Exercise Price
before adjustment.

              6.2 CAPITAL ADJUSTMENTS. In case of any stock split or reverse
stock split, stock dividend, reclassification of the Common Stock,
recapitalization, merger or consolidation, or like capital adjustment affecting
the Common Stock of the Company, the provisions of this Section 6 shall be
applied as if such capital adjustment event had occurred immediately prior to
the date of this Warrant and the original Exercise Price had been fairly
allocated to the stock resulting from such capital adjustment; and in other
respects the provisions of this Section shall be applied in a fair, equitable
and reasonable manner so as to give effect, as nearly as may be, to the purposes
hereof. A rights offering to stockholders shall be deemed a stock dividend to
the extent of the bargain purchase element of the rights.

              6.3 ADJUSTMENT FOR SPIN OFF. If, for any reason, prior to the
exercise of this Warrant in full, the Company spins off or otherwise divests
itself of a part of its business or operations or disposes all or of a part of
its assets in a transaction (the "Spin Off") in which the Company does not
receive compensation for such business, operations or assets, but causes
securities of anot her entity (the "Spin Off Securities") to be issued to
security holders of the Company, then

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                   (a) the Company shall cause (i) to be reserved Spin Off
         Securities equal to the number thereof which would have been issued to
         the Holder had all of the Holder's unexercised Warrants outstanding on
         the record date (the "Record Date") for determining the amount and
         number of Spin Off Securities to be issued to security holders of the
         Company (the "Outstanding Warrants") been exercised as of the close of
         business on the trading day immediately before the Record Date (the
         "Reserved Spin Off Shares"), and (ii) to be issued to the Holder on the
         exercise of all or any of the Outstanding Warrants, such amount of the
         Reserved Spin Off Shares equal to (x) the Reserved Spin Off Shares
         multiplied by (y) a fraction, of which (I) the numerator is the amount
         of the Outstanding Warrants then being exercised, and (II) the
         denominator is the amount of the Outstanding Warrants; and

                   (b) the Exercise Price on the Outstanding Warrants shall be
         adjusted immediately after consummation of the Spin Off by multiplying
         the Exercise Price by a fraction (if, but only if, such fraction is
         less than 1.0), the numerator of which is the average Closing Bid Price
         of the Common Stock for the five (5) trading days immediately following
         the fifth trading day after the Record Date, and the denominator of
         which is the average Closing Bid Price of the Common Stock on the five
         (5) trading days immediately preceding the Record Date; and such
         adjusted Exercise Price shall be deemed to be the Exercise Price with
         respect to the Outstanding Warrants after the Record Date.

         7. TRANSFER TO COMPLY WITH THE SECURITIES ACT; REGISTRATION RIGHTS.

              7.1 TRANSFER. This Warrant has not been registered under the
Securities Act of 1933, as amended, (the "Act") and has been issued to the
Holder for investment and not with a view to the distribution of either the
Warrant or the Warrant Shares. Neither this Warrant nor any of the Warrant
Shares or any other security issued or issuable upon exercise of this Warrant
may be sold, transferred, pledged or hypothecated in the absence of an effective
registration statement under the Act relating to such security or an opinion of
counsel satisfactory to the Company that registration is not required under the
Act. Each certificate for the Warrant, the Warrant Shares and any other security
issued or issuable upon exercise of this Warrant shall contain a legend on the
face thereof, in form and substance satisfactory to counsel for the Company,
setting forth the restrictions on transfer contained in this Section.

              7.2 REGISTRATION RIGHTS. (a) Reference is made to the Registration
Rights Agreement. The Company's obligations under the Registration Rights
Agreement and the other terms and conditions thereof with respect to the Warrant
Shares, including, but not necessarily limited to, the Company's commitment to
file a registration statement including the Warrant Shares, to have the
registration of the Warrant Shares completed and effective, and to maintain such
registration, are incorporated herein by reference.

                  (b) In addition to the registration rights referred to in the
preceding provisions of Section 7.2(a), effective after the expiration of the
effectiveness of the Registration Statement as contemplated by the Registration
Rights Agreement, the Holder shall have piggy-back registration rights with
respect to the Warrant Shares then held by the Holder or then subject to
issuance upon exercise of this Warrant (collectively, the "Remaining Warrant

<PAGE>

Shares"), subject to the conditions set forth below. If, at any time after the
Registration Statement has ceased to be effective, the Company participates
(whether voluntarily or by reason of an obligation to a third party) in the
registration of any shares of the Company's stock (other than a registration on
Form S-8 or on Form S-4), the Company shall give written notice thereof to the
Holder and the Holder shall have the right, exercisable within ten (10) business
days after receipt of such notice, to demand inclusion of all or a portion of
the Holder's Remaining Warrant Shares in such registration statement. If the
Holder exercises such election, the Remaining Warrant Shares so designated shall
be included in the registration statement at no cost or expense to the Holder
(other than any costs or commissions which would be borne by the Holder under
the terms of the Registration Rights Agreement); provided, however, that if
there is a managing underwriter of the offering of shares referred to in the
registration statement and such managing underwriter advises the Company in
writing that the number of shares proposed to be included in the offering will
have an adverse effect on its ability to successfully conclude the offering and,
as a result, the number of shares to be included in the offering is to be
reduced, the number of Remaining Warrant Shares of the Holder which were to be
included in the registration (before such reduction) will be reduced pro rata
with the number of shares included for all other parties whose shares are being
registered. The Holder's rights under this Section 7 shall expire at such time
as the Holder can sell all of the Remaining Warrant Shares under Rule 144
without volume or other restrictions or limit.

         8. NOTICES. Any notice or other communication required or permitted
hereunder shall be in writing and shall be delivered personally, telegraphed,
telexed, sent by facsimile transmission or sent by certified, registered or
express mail, postage pre-paid. Any such notice shall be deemed given when so
delivered personally, telegraphed, telexed or sent by facsimile transmission,
or, if mailed, two days after the date of deposit in the United States mails, as
follows:

                           (i)      if to the Company, to:

                                    COMPUTERIZED THERMAL IMAGING, INC.
                                    Two Centerpointe Drive, Suite 450
                                    Lake Oswego, Oregon 97035
                                    ATTN: Bernard Brady, Chief Financial Officer
                                    Telephone No.: (503) 594-1210
                                    Facsimile No.:  (503) 594-1217

                           with a copy to:

                                    Davis Wright Tremaine LLP
                                    1300 SW Fifth Avenue
                                    Portland, OR 97201
                                    Attn: Michael McArthur-Phillips
                                    Telephone No.: (503) 778-5214
                                    Telecopier No.: (503) 778-5299

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                           (ii)     if to the Holder, to:

                                    Attn:
                                    Telephone No.: (     )      -
                                    Telecopier No.: (     )      -

                           with a copy to:

                                    Krieger & Prager LLP, Esqs.
                                    39 Broadway
                                    Suite 1440
                                    New York, NY 10006
                                    Attn: Samuel M. Krieger, Esq.
                                    Telephone No.: (212) 363-2900
                                    Telecopier No.  (212) 363-2999

Any party may be notice given in accordance with this Section to the other
parties designate another address or person for receipt of notices hereunder.

         9. SUPPLEMENTS AND AMENDMENTS; WHOLE AGREEMENT. This Warrant may be
amended or supplemented only by an instrument in writing signed by the parties
hereto. This Warrant contains the full understanding of the parties hereto with
respect to the subject matter hereof and thereof and there are no
representations, warranties, agreements or understandings other than expressly
contained herein and therein.

         10. GOVERNING LAW. This Warrant shall be deemed to be a contract made
under the laws of the State of New York for contracts to be wholly performed in
such state and without giving effect to the principles thereof regarding the
conflict of laws. Each of the parties consents to the jurisdiction of the
federal courts whose districts encompass any part of the City of New York or the
state courts of the State of New York sitting in the City of New York in
connection with any dispute arising under this Warrant and hereby waives, to the
maximum extent permitted by law, any objection, including any objection based on
FORUM NON CONVENIENS, to the bringing of any such proceeding in such
jurisdictions.

         11. JURY TRIAL WAIVER. The Company and the Holder hereby waive a trial
by jury in any action, proceeding or counterclaim brought by either of the
Parties hereto against the other in respect of any matter arising out or in
connection with this Warrant.

         12. COUNTERPARTS. This Warrant may be executed in any number of
counterparts and each of such counterparts shall for all purposes be deemed to
be an original, and all such counterparts shall together constitute but one and
the same instrument.

         13. DESCRIPTIVE HEADINGS. Descriptive headings of the several Sections
of this Warrant are inserted for convenience only and shall not control or
affect the meaning or construction of any of the provisions hereof.

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         IN WITNESS WHEREOF, the parties hereto have executed this Warrant as of
the 20th day of December, 2001.


                       COMPUTERIZED THERMAL IMAGING, INC.

                                         By:      /s/ Bernard J. Brady
                                               ---------------------------------
                                         Name:    Bernard J. Brady
                                               ---------------------------------
                                         Title:   CFO, Secretary, Treasurer
                                               ---------------------------------

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                          NOTICE OF EXERCISE OF WARRANT

         The undersigned hereby irrevocably elects to exercise the right,
represented by the Warrant Certificate dated as of __________, _____, to
purchase _______________ shares of the Common Stock, $0.001 par value, of
COMPUTERIZED THERMAL IMAGING, INC. and tenders herewith payment in accordance
with Section 1 of said Common Stock Purchase Warrant.

         CASH:   $________________________ =  (Exercise Price x Exercise Shares)
---

           Payment is being made by:
                     ___      enclosed check
                     ___      wire transfer
                     ___      other

         CASHLESS EXERCISE
---
           Net number of Warrant Shares to be issued to Holder: _________*

           * based on: Current Market Value - (Exercise Price x Exercise Shares)
                       ---------------------------------------------------------
                                               Market Price of Common Stock
           where:
           Market Price of Common Stock ["MP"]         =   $______________
           Current Market Value [MP x Exercise Shares] =   $______________

         It is the intention of the Holder to comply with the provisions of
Section 2.2 of the Warrant regarding certain limits on the Holder's right to
exercise thereunder. Based on the analysis on the attached Worksheet Schedule,
the Holder believe this exercise complies with the provisions of said Section
2.2. Nonetheless, to the extent that, pursuant to the exercise effected hereby,
the Holder would have more shares than permitted under said Section, this notice
should be amended and revised, ab initio, to refer to the exercise which would
result in the issuance of shares consistent with such provision. Any exercise
above such amount is hereby deemed void and revoked.

         Please deliver the stock certificate to:

Dated:
       ------------------------------------------

[Name of Holder]

By:
   -----------------------------------------------

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                          NOTICE OF EXERCISE OF WARRANT
                               WORKSHEET SCHEDULE

<TABLE>
<CAPTION>
<S>                                                          <C>          <C>
1. Current Common Stock holdings of Holder and Affiliates                 _____________
2. Shares to be issued on current exercise                                _____________
3. Other shares eligible to be acquired without restriction               _____________
4. Total [sum of Lines 1 through 3]                                       _____________

5. Outstanding     shares of Common Stock                                 _____________
6. Adjustments to Outstanding
         a. Shares from Line 1 not included in Line 5        ____________
         b. Shares to be issued per Line 2                   ____________
         c. Total Adjustments [Lines 6a and 6b]                           _____________
7. Total Adjusted Outstanding [Lines 5 plus 6c]                           _____________

8. Holder's Percentage [Line 4 divided by Line 7]                         _____________%
[Note: Line 8 not to be above 4.99%]
</TABLE>