Exhibit 2.2

WARRANT CERTIFICATE
WARRANTS TO ACQUIRE COMMON SHARES OF SR TELECOM INC.

|CERTIFICATE NO.[    ] EXPIRY DATE: July 18, 2008 and August 27, 2008 |  | [    ]WARRANTS(each entitling the holder to acquire onecommon share of SR Telecom Inc., subjectto adjustment, in accordance with the terms hereof)
|-------------------------------------------------------------------- |  | --------------------------------------------------------------------------------------------------------------------------------------------------

THE RIGHT TO PURCHASE COMMON SHARES UNDER THIS WARRANT EXPIRES AT THE TIME OF EXPIRY (AS DEFINED HEREIN).

THE WARRANTS REPRESENTED BY THIS CERTIFICATE MAY NOT BE EXERCISED BY ANY PERSON OTHER THAN THE REGISTERED HOLDER HEREOF.

U.S. Restrictions

NEITHER THE WARRANTS REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES ISSUABLE UPON THE EXERCISE THEREOF HAVE BEEN OR WILL BE REGISTERED
UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED. THE WARRANTS REPRESENTED BY THIS CERTIFICATE AND THE SECURITIES ISSUABLE UPON THE EXERCISE THEREOF MAY NOT BE TRANSFERRED TO A
U.S. PERSON, ANY PERSON IN THE UNITED STATES OR ANY PERSON FOR THE ACCOUNT OR BENEFIT OF A U.S. PERSON OR A PERSON IN THE UNITED STATES, EXCEPT IN A TRANSACTION THAT COMPLIES WITH RULE
144A UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED OR ANOTHER AVAILABLE EXEMPTION, OR IS OTHERWISE NOT SUBJECT TO SUCH ACT, AND WITH ANY APPLICABLE U.S. STATE SECURITIES
LAWS.

Canadian Restrictions

UNLESS PERMITTED UNDER SECURITIES LEGISLATION, THE HOLDER OF THE SECURITIES SHALL NOT TRADE THE SECURITIES BEFORE DECEMBER 28,
2003.

THE WARRANTS REPRESENTED BY THIS CERTIFICATE AND ANY SECURITIES ISSUED UPON EXERCISE OF SUCH SECURITIES ARE SUBJECT TO HOLD PERIODS AND RESALE RESTRICTIONS UNDER
APPLICABLE SECURITIES LEGISLATION AND MAY NOT BE TRADED EXCEPT AS MAY BE PERMITTED, AND IN THE MANNER PERMITTED, BY SUCH SECURITIES LEGISLATION.

THIS CERTIFIESthat, for value received,[    ](the "Holder") is the registered holder of[    ]common share purchase
warrants (the"Warrants"). Each one whole Warrant will entitle the Holder, subject to the terms and conditions set forth in this certificate or by a
replacement certificate (in either case this"Warrant Certificate"), to subscribe from SR Telecom Inc. (the "Corporation") one fully paid and
non-assessable common share of the Corporation (a"Share")
at any time commencing on the date hereof and continuing up to and including 5:00 p.m. (Montréal time) on August 27, 2008 (the"Time of
Expiry") on payment of Cdn $1.00 per Warrant (the"Exercise Price"). The number of Shares which the Holder is entitled to
acquire upon exercise of the Warrants and the Exercise Price are subject to adjustment as hereinafter provided.

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Section 1    Exercise of Warrants

Section 2    Anti-Dilution Protection

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Section 3    Time of Expiry.

At and after the Time of Expiry, no Holder of a Warrant Certificate representing Warrants will have any further rights to acquire Shares, and the Warrants will be
of no value or effect.

Section 4    No Fractional Common Shares

The Corporation will not be required to issue fractional Shares in satisfaction of its obligations hereunder. If any fractional interest in a Share would be
deliverable upon the exercise of a Warrant, the Corporation will, in lieu of delivering the fractional Share, satisfy the right to receive such fractional interest by payment to the Holder of an
amount in cash equal (computed in the case of a fraction of a cent to the previous lower cent) to the value of the right to acquire such fractional interest on the basis of the Current Market Price of
the Shares on the date of exercise as calculated in accordance with the provisions of Section 2 hereof.

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Section 5    Transfer of Warrants

Section 6    Replacement

Upon receipt of evidence satisfactory to the Corporation of the loss, theft, destruction or mutilation of this Warrant Certificate and, if requested by the
Corporation, upon delivery of a bond of indemnity satisfactory to the Corporation (or, in the case of mutilation, upon surrender of this Warrant Certificate), the Corporation will issue to the Holder
a replacement certificate (containing the same terms and conditions as this Warrant Certificate).

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Section 7    Shareholder Status

The holding of the Warrants evidenced by this certificate will not constitute the Holder a shareholder of the Corporation or entitle the Holder to any right or
interest in respect thereof except as expressly provided in this certificate.

Section 8    Successors

This Warrant Certificate will enure to the benefit of and will be binding upon the Holder and the Corporation and their respective successors.

Section 9    Governing Law

This Warrant Certificate will be construed in accordance with the laws of the Province of Québec and the federal laws of Canada applicable therein
and will be treated in all respects as an Québec contract.

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IN WITNESS WHEREOFthe Corporation has caused this Warrant Certificate to be signed by its duly authorized officer.

DATEDas of the July 18, 2003 and 27th day of August, 2003.

| |  | SR TELECOM INC.
| |  | ---------------
| |  | By:            
| |  |                

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Exhibit 2.2

TRANSFER OF WARRANTS

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto
 Warrants exercisable for Shares of SR Telecom Inc. (the"Corporation") registered in
the name of the undersigned on the register of the Corporation maintained therefor, and hereby irrevocably appoints
 the attorney of the
undersigned to transfer the said securities on the books maintained by the Corporation with full power of substitution.

DATED
the  day of
 ,
200.

|Signature of Transferor guaranteed by: |  |                        
|-------------------------------------- |  | -----------------------
|                                       |  |                        
|Name of Bank or Trust Company:         |  | Signature of Transferor
|                                       |  |                        
|                                       |  | Address of Transferor  

Notes:



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Exhibit 2.2

ACKNOWLEDGEMENT OF TRANSFEREE

|TO: |  | [Name of Transferor]       
|--- |  | ---------------------------
|    |  |  and 
   
SR Telecom Inc.

The
undersigned transferee of  Warrants exercisable for Shares of SR Telecom Inc. (the
"Corporation") hereby acknowledges that such Warrants are subject to the terms, conditions and provisions of the attached Warrant Certificate.



The certificates for the Warrants are to be registered in the name of:and delivered to the following address:


If
the undersigned transferee is signing as agent for a principal and not as agent for a fully managed account the name or address of the beneficial purchaser is:




Dated
the  day of
, 200.

| |  | [TRANSFEREE]
| |  | ------------
| |  | By:         
| |  |             
| |  | By:         
| |  |             

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Exhibit 2.2

EXHIBIT 1
Exercise Notice

The undersigned hereby irrevocably exercises the number of Warrants of SR Telecom Inc. set out below for the number of Shares (or other property or
securities subject thereto) as set forth below:



and
hereby tenders a certified cheque, bank draft or cash for such aggregate purchase price, and directs such Shares to be registered and a certificate therefor to be issued as directed below.

DATED
this  day of
,
200.

|                              |  | Per:
|----------------------------- |  | ----
|Direction as to Registration  |  |     
|                              |  |     
|Name of Registered Holder:    |  |     
|                              |  |     
|Address of Registered Holder: |  |     

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