Document:

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                                                                    EXHIBIT 4.1

                              INZECO HOLDINGS INC.
           INCORPORATED UNDER THE BUSINESS CORPORATIONS ACT (ALBERTA)

                                LEGEND ON REVERSE

                                                 ------------------------
                                                    CUSIP 461918 10 4
                                                 ------------------------

Number

000311       ***C311***                                          Common Shares

                           THIS CERTIFIES THAT

                           IS THE REGISTERED HOLDER OF

                           FULLY PAID AND NON-ASSESSABLE COMMON SHARES IN THE
                           CAPITAL OF

                                         INZECO HOLDINGS INC.

                           TRANSFERABLE ON THE BOOKS OF THE CORPORATION BY THE
                           REGISTERED HOLDER IN PERSON OR BY DULY AUTHORIZED
                           ATTORNEY UPON SURRENDER OF THIS CERTIFICATE PROPERLY
                           ENDORSED.
                           THE CLASS OF SHARES REPRESENTED BY THIS CERTIFICATE
                           IS SUBJECT TO CERTAIN RIGHTS, PRIVILEGES,
                           RESTRICTIONS AND CONDITIONS. THE CORPORATION WILL
                           FURNISH TO A SHAREHOLDER, ON DEMAND AND WITHOUT
                           CHARGE, A FULLY COPY OF THE TEXT OF THE RIGHTS,
                           PRIVILEGES, RESTRICTIONS AND CONDITIONS ATTACHED TO
                           EACH CLASS OF SHARES AUTHORIZED TO BE ISSUED AND TO
                           EACH SERIES IN SO FAR AS THEY HAVE BEEN FIXED BY THE
                           DIRECTORS, AND THE AUTHORITY OF THE DIRECTORS TO FIX
                           THE RIGHTS, PRIVILEGES, RESTRICTIONS AND CONDITIONS
                           OF SUBSEQUENT SERIES.
                           THIS CERTIFICATE IS NOT VALID UNTIL COUNTERSIGNED AND
                           REGISTERED BY THE TRANSFER AGENT AND REGISTRAR OF THE
                           CORPORATION.
                           IN WITNESS WHEREOF THE CORPORATION HAS CAUSED THIS
                           CERTIFICATE TO BE SIGNED BY THE FACSIMILE SIGNATURES
                           OF ITS DULY AUTHORIZED OFFICERS.

                           DATED:

             COUNTERSIGNED AND REGISTERED
                                                                 --------------
             MONTREAL TRUST COMPANY OF CANADA, Calgary, Alberta    PRESIDENT

                             TRANSFER AGENT AND REGISTRAR

-------------------------------------------------------------------------------
                                 AUTHORIZED SIGNATURE       SECRETARY-TREASURER

       THE SHARES REPRESENTED BY THIS CERTIFICATE ARE TRANSFERABLE AT THE
       OFFICES OF MONTREAL TRUST COMPANY OF CANADA, CALGARY, ALBERTA.

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                            FOR VALUE RECEIVED the undersigned hereby
                   sells, assigns and transfers unto

                            PLEASE INSERT SOCIAL INSURANCE NUMBER
                   ----------------------------------------------

                   ----------------------------------------------
                   (REVENUE CANADA REQUIRES THE S.I.N. OF THE
                   TRANSFEREE)

                   ----------------------------------------------------
                           (Name and Address of Transferee)

                   ----------------------------------------------------

                                                                  shares
                   -----------------------------------------------
                   registered in the name of the undersigned on the
                   books of the Corporation named on the face of
                   this certificate and represented hereby, and
                   irrevocably constitutes and appoints

                                                            the attorney
                   -----------------------------------------
                   of the undersigned to transfer the said shares on the
                   register of transfers and books of the Corporation
                   with full power of substitution hereunder.

                            DATED:

                   -----------------------  ----------------------------
                   (Signature of Witness)    (Signature of Shareholder)

                   NOTICE: THE SIGNATURE OF THIS ASSIGNMENT MUST
                   CORRESPOND WITH THE NAME AS WRITTEN UPON THE FACE OF
                   THE CERTIFICATE IN EVERY PARTICULAR WITHOUT
                   ALTERATION OR ENLARGEMENT, OR ANY CHANGE WHATEVER.
                            THE SIGNATURE OF THE TRANSFEROR MUST BE
                   GUARANTEED BY A BANK, TRUST COMPANY OR REGISTERED
                   SECURITIES DEALER.

                   SIGNATURE GUARANTEED BY:
                                           -----------------------------

"THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER ANY
FEDERAL OR STATE SECURITIES LAWS AND MAY NOT BE TRANSFERRED IN THE ABSENCE OF
EFFECTIVE REGISTRATION STATEMENTS OR EXEMPTIONS UNDER SUCH LAWS."

                                       AND

"WITHOUT PRIOR WRITTEN APPROVAL OF THE EXCHANGE AND COMPLIANCE WITH ALL
APPLICABLE SECURITIES LEGISLATION, THE SECURITIES REPRESENTED BY THIS
CERTIFICATE MAY NOT BE SOLD, TRANSFERRED, HYPOTHECATED OR OTHERWISE TRADED ON OR
THROUGH THE FACILITIES OF THE CANADIAN VENTURE EXCHANGE OR OTHERWISE IN CANADA
OR TO OR FOR THE BENEFIT OF CANADIAN RESIDENT UNTIL OCTOBER 16, 2000."<PAGE>

                                                                    EXHIBIT 4.2

                                                    Certificate Number ________

                            ________ SPECIAL WARRANTS

                           To Acquire Common Shares of

                              INZECO HOLDINGS INC.
                            (an Alberta corporation)

EXERCISABLE AT ANY TIME PRIOR TO 5:00 P.M. (TORONTO TIME) ON THE EARLIER OF (i)
THE DATE WHICH IS FIVE (5) BUSINESS DAYS FOLLOWING THE ISSUANCE OF A RECEIPT
FROM THE ONTARIO SECURITIES COMMISSION FOR A FINAL PROSPECTUS QUALIFYING THE
UNDERLYING COMMON SHARES FOR DISTRIBUTION; AND (ii) DECEMBER 15, 2001.

         THIS CERTIFIES THAT, for value received, ______________ (the "Holder"),
is entitled to exercise this certificate to acquire, for no additional
consideration, one common share in the capital of the Corporation, subject to
adjustment as herein set forth for each Special Warrant represented by this
Certificate.

         The following provisions shall be applicable to the Special Warrants:

1.       INTERPRETATION

         1.1      CURRENCY

                  All dollar amounts referred to herein shall be in lawful money
of Canada.

         1.2      DEFINED TERMS

                  As used herein, the following words and phrases shall have the
following meanings respectively:

                  (a)      "Agent" means Paradigm Capital Inc.;
                  (b)      "business day" means a day other than a Saturday,
                           Sunday, any statutory holiday or any other day on
                           which banks are generally closed in Toronto;
                  (c)      "CDNX" means the Canadian Venture Exchange;
                  (d)      "close of business" means 5:00 o'clock in the
                           afternoon (Toronto time);
                  (e)      "Common Shares" means common shares without par value
                           in the capital of the Corporation whether issued or
                           unissued, as constituted at the date hereof; provided
                           that in the event of a change, reclassification,
                           subdivision, redivision, reduction, combination, or
                           consolidation thereof, or successive such changes,
                           reclassifications, subdivisions, redivisions,
                           reductions, combinations or consolidations, and
                           subject to adjustment, if any, having been made in
                           accordance with the provisions of Section 2 below,
                           "Common Shares" shall thereafter mean the shares
                           resulting from such change, reclassification,
                           subdivision, redivision, reduction or combination;

                                     -1-
<PAGE>

                  (f)      "Convertible Security" means a security of the
                           Corporation or any other issuer that is convertible
                           into or exchangeable for or otherwise carries the
                           right to acquire Common Shares;
                  (g)      "Corporation" means Inzeco Holdings Inc.;
                  (h)      "Current Market Price", at any date, means the
                           weighted average price per Common Share at which the
                           Common Shares have traded: (a) on CDNX; (b) if the
                           Common Shares are not listed on CDNX, on any other
                           stock exchange upon which the Common Shares are
                           listed as may be selected for this purpose by the
                           directors of the Corporation; or (c) if the Common
                           Shares are not listed, on any other over-the-counter
                           market on which the Common Shares are quoted; during
                           the 20 consecutive trading days (on each of which at
                           least 500 Common Shares are.- 2 -traded in board
                           lots) ending the 15th trading day before such date,
                           and the weighted average price shall be determined by
                           multiplying the daily volume of trading of the Common
                           Shares on the exchange or market for each day which
                           is included in the average by the last trade of
                           Common Shares on the exchange or market for each
                           respective day and dividing the sum of all such
                           products by the total number of Common Shares traded;
                  (i)      "director" means a director of the Corporation for
                           the time being and "directors" or "board of
                           directors" means the board of directors of the
                           Corporation or, if duly constituted and empowered,
                           the executive committee of the board of directors of
                           the Corporation for the time being, and reference,
                           without further elaboration, to action by the
                           directors means action by the directors of the
                           Corporation as a board or action taken by the said
                           executive committee as such committee;
                  (j)      "Exchange Number", at any time, means that number of
                           Common Shares that the Holder is entitled to receive
                           for each Special Warrant held upon exercise of the
                           rights attached to the Special Warrant as the number
                           may be adjusted by Section 1.5 or Section 2 hereof
                           and that number, as at the date hereof, is equal to
                           one Common Share for each Special Warrant;
                  (k)      "herein", "hereto", "hereunder", "hereof", "hereby"
                           and similar expressions mean or refer to this Special
                           Warrant certificate and not to any particular
                           section, clause, subclause, subdivision or portion
                           hereof, and the expressions, "Section", "clause" and
                           "subclause" followed by a number or letter mean and
                           refer to the specified Section, clause or subclause
                           hereof;
                  (l)      "Offering Jurisdiction" means the Province of
                           Ontario;
                  (m)      "person" means any individual, corporation, company,
                           partnership, association or trust;
                  (n)      "Purchase Price" means $0.60 per Special Warrant;
                  (o)      "Qualification Deadline" means 5:00 p.m., Toronto
                           time, on October 15, 2000;
                  (p)      "Qualifying Prospectus" means a final prospectus of
                           the Corporation filed to qualify the Common Shares
                           issuable upon the exercise of the Special Warrants
                           for distribution in the Offering Jurisdiction;
                  (q)      "Receipt Date" means the date of the receipt issued
                           by the Ontario Securities Commission;
                  (r)      "Registrar and Transfer Agent" means the Corporation
                           or such other company as the Corporation may appoint
                           from time to time as the registrar and transfer agent
                           of the Special Warrants;
                  (s)      "shareholder" means any shareholder of the
                           Corporation;
                  (t)      "Special Warrants" mean the special warrants
                           evidenced hereby;
                  (u)      "Special Warrant Register" means the register to be
                           maintained by the Registrar and Transfer Agent
                           pursuant to Section 3 hereof; and

                                     -2-
<PAGE>

                  (v)      "Time of Expiry" means 5:00 p.m., Toronto time, on
                           the date which is the earlier to occur of (i) the
                           fifth business day following the Receipt Date; and
                           (ii) December 15, 2001.

         1.3      EXERCISE OF SPECIAL WARRANTS

                  Subject to Section 1.4 hereof, certificate(s) for the Common
Shares evidencing the aggregate number of Common Shares for which the Holder
elects to subscribe hereunder, shall be delivered to the Holder against
surrender to the Registrar and Transfer Agent at its principal office in the
City of Toronto, of this Special Warrant Certificate with the exercise form
attached hereto as Schedule A duly completed. Subject to the receipt by the
Registrar and Transfer Agent of contrary instructions from the Holder, each
Common Share certificate shall evidence the number of Common Shares for which
the. Holder elects to subscribe hereunder and shall be registered in the name
of the Holder. The Corporation shall pay all taxes and other expenses and
charges payable in connection with the preparation, execution and delivery of
certificate(s) except that in case such certificate(s) shall be registered in a
name or names other than the Holder of the Special Warrants or its nominee,
funds sufficient to pay all stock transfer taxes which shall be payable in
connection with the execution and delivery of such certificate(s) shall be paid
by the Holder to the Corporation at the time of the delivery of such
certificate(s) as set out above.

         1.4      DEEMED EXERCISE

                  In the event the Receipt Date occurs prior to the
Qualification Deadline, and the Holder of this Special Warrant (the "Holder")
has not yet exercised all of the Special Warrants evidenced hereby, the
Corporation promptly after the Receipt Date shall send to the Holder at the
address of the Holder appearing on the Special Warrant Register, a copy of the
Qualifying Prospectus. The Qualifying Prospectus shall be accompanied by a
notice from the Corporation advising the Holder that the Corporation has
received a receipt for the Qualifying Prospectus in the Offering Jurisdiction
and advising the Holder that the Holder's Special Warrants will be deemed
exercised to subscribe for Common Shares, immediately prior to the Time of
Expiry unless the Holder exercises the right to subscribe for Common Shares
before such time pursuant to Section 1.3 hereof.

                  In the event the Special Warrants have not been exercised on
or prior to 5:00 p.m. (Toronto time) on December 15, 2001, they will be deemed
exercised immediately prior thereto.

                  In the case of a deemed exercise, the Common Shares for which
the Holder shall have subscribed shall be and shall be deemed to be issued to
the Holder as the owner of record of such securities as of the date of
exercise. In such event, certificates for the Common Shares for which the
Holder shall have subscribed, evidencing the aggregate number of Common Shares
for which the Holder is entitled to subscribe hereunder, shall be delivered
(unless contrary instructions are given to the Registrar and Transfer Agent by
the Holder prior to the delivery of such certificates) to the Holder at the
address of the Holder set forth in the Special Warrant Register maintained by
the Registrar and Transfer Agent at its principal office in the City of
Toronto. Subject to the receipt by the Registrar and Transfer Agent of contrary
instructions from the Holder, each certificate so delivered shall evidence the
aggregate number of Common Shares for which the Holder is entitled to subscribe
hereunder, and shall be registered in the name of the Holder. The Corporation
shall pay all taxes and other expenses and charges payable in connection with
the preparation, execution and delivery of certificate(s) pursuant to this
Section 1.4, except that in case such certificate(s) shall be registered in the
name or names other than the Holder or its nominee, funds sufficient to pay all
stock transfer taxes which shall be payable in connection with the execution
and delivery of such certificate(s) shall be paid by the Holder to the
Corporation at the time of delivery of such certificate(s) as set out above.

                                     -3-
<PAGE>

         1.5      ADJUSTMENT WHERE RECEIPT DATE DOES NOT OCCUR PRIOR TO
                  QUALIFICATION DEADLINE

                  In the event the Receipt Date does not occur on or prior to
the Qualification Deadline (a "Default"), and the Holder has not yet exercised
all of the Special Warrants evidenced hereby, the Corporation shall, within two
business days, send a notice to the Holder (the "Non-Satisfaction Notice"), at
the address of the Holder appearing on the Special Warrant Register. The
Non-Satisfaction Notice shall inform the Holder of such event and instruct the
Holder of its rights under this Section 1.5. If a Default has occurred, the
Holder may nevertheless exercise the Special Warrants registered in the name of
such Special Warrant holder until the Time of Expiry. Any exercise of Special
Warrants at any time following a Default shall be on the basis of an
entitlement to receive one and one-tenth of one (1.1) Common Share for each
Special Warrant so exercised without payment of any additional consideration.
The Holder, subject to any rights of rescission or damages available under
applicable securities laws, will not be entitled to a refund of any of the
subscription price for any of its Special Warrants.

         1.6      PARTIAL EXERCISE OF SPECIAL WARRANTS

                  If the Special Warrants evidenced hereby are exercised by the
Holder prior to the Receipt Date having occurred, any such exercise shall be
subject to the Holder providing such assurances and executing such documents as
the Corporation or the Registrar and Transfer Agent, acting reasonably, may
require to ensure compliance with applicable securities legislation. If fewer
Special Warrants are exercised than the number of Special Warrants represented
hereby, the Holder will be entitled to receive without charge a new Special
Warrant Certificate in respect of the balance of the Special Warrants not so
exercised.

         1.7      SPECIAL WARRANTHOLDER NOT A SHAREHOLDER

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

         1.8      COMMON SHARES TO BE FULLY PAID

                  The Corporation covenants and agrees that all Common Shares
issued hereunder or on the due exercise of the Special Warrants will, upon
issuance, be fully paid and non-assessable and free from all taxes, liens and
charges with respect to the issue thereof.

         1.9      NO FRACTIONAL SHARES

                  The Corporation shall not be required to issue fractional
Common Shares upon the exercise by the Holder of its rights hereunder. To the
extent that the Holder would otherwise have been entitled to receive on the
exercise or partial exercise hereof a fraction of a Common Share, that Holder
may exercise that right in respect of the fraction only in combination with
another Special Warrant or Special Warrants that in the aggregate entitle the
Holder to purchase a whole number of Common Shares.

         1.10     COMMON SHARES TO BE RESERVED

                  The Corporation shall, so long as the Special Warrants are
outstanding, at all times ensure that there are a sufficient number of Common
Shares authorized to be issued upon the exercise of the Holder's rights
hereunder; provided that nothing herein contained shall affect or restrict the
right of

                                     -4-
<PAGE>

the Corporation to issue Common Shares from time to time subject to the terms
and conditions of the Special Warrants.

         1.11     DEEMED EXERCISE OF SPECIAL WARRANTS AT TIME OF EXPIRY

                  Special Warrants which are not exercised or surrendered for
cancellation prior to the Time of Expiry in accordance with Section 1 hereof
shall be deemed exercised on behalf of the holder thereof. In such case
certificates for the Common Shares for which the Holder shall have subscribed
shall be delivered to the Holder in accordance with the procedures outlined in
Section 1.4.

2.       ADJUSTMENTS

         2.1      ADJUSTMENTS TO EXCHANGE NUMBER

                  The Exchange Number (or the number and kind of common shares
or securities to be received upon exercise in the case of subsections 2.1(d)
and 2.1(e) below) shall be subject to adjustment from time to time in the
events and in the manner provided as follows:

                  (a)      If at any time from the date hereof to the Expiry
                           Time (the "Exercise Period") the Corporation shall:

                           (i)      issue to all or substantially all the
                                    holders of the Common Shares by way of a
                                    stock dividend or otherwise Common Shares or
                                    Convertible Securities; or

                           (ii)     subdivide its outstanding Common Shares into
                                    a greater number of shares; or

                           (iii)    combine or consolidate its outstanding
                                    Common Shares into a smaller number of
                                    shares

                           (any of those events being herein called a "Share
                           Reorganization")

                           the Exchange Number shall be adjusted effective
                           immediately after the record date at which the
                           holders of Common Shares are determined for the
                           purposes of the Share Reorganization to a number that
                           is the product of (1) the Exchange Number in effect
                           on the record date and (2) a fraction:

                                    A.       the numerator of which shall be the
                                             number of Common Shares outstanding
                                             after giving effect to the Share
                                             Reorganization; and

                                    B.      the denominator of which shall be
                                            the number of Common Shares
                                            outstanding on the record date
                                            before giving effect to the Share
                                            Reorganization.

                  (b)      If during the Exercise Period the Corporation shall
                           issue rights, options or warrants to all or
                           substantially all the holders of the Common Shares
                           pursuant to which those holders are entitled to
                           subscribe for, purchase or otherwise acquire Common
                           Shares or Convertible Securities within a period of
                           45 days from the date of issue thereof at a price, or
                           at a conversion price, of less than 95% of the

                                     -5-
<PAGE>

                           Current Market Price at the record date for such
                           distribution (any such issuance being herein called a
                           "Rights Offering" and Common Shares that may be
                           acquired in exercise of the Rights Offering, or upon
                           conversion of the Convertible Securities offered by
                           the Rights Offering, being herein called the "Offered
                           Shares"), the Exchange Number shall be adjusted
                           effective immediately after the record date at which
                           holders of Common Shares are determined for the
                           purposes of the Rights Offering to an Exchange Number
                           that is the product of (1) the Exchange Number in
                           effect on the record date and (2) a fraction:

                           (i)      the numerator of which shall be the sum of
                                    (a) the number of Common Shares outstanding
                                    on the record date plus (b) the number of
                                    Offered Shares offered pursuant to the
                                    Rights Offering or the maximum number of
                                    Offered Shares into which the Convertible
                                    Securities so offered pursuant to the Rights
                                    Offering may be converted, as the case may
                                    be; and

                           (ii)     the denominator of which shall be the sum
                                    of:

                                    A.       the number of Common Shares
                                             outstanding on the record date; and

                                    B.      the number arrived at when (I)
                                            either the product of (a) the number
                                            of Offered Shares so offered and (b)
                                            the price at which those shares are
                                            offered, or the product of (c) the
                                            conversion price thereof and (d) the
                                            maximum number of Offered Shares for
                                            or into which the Convertible
                                            Securities so offered pursuant to
                                            the Rights Offering may be
                                            converted, as the case may be, is
                                            divided by (II) the Current Market
                                            Price of the Common Shares on the
                                            record date.

                           Any Offered Shares owned by or held for the account
                           of the Corporation shall be deemed not to be
                           outstanding for the purpose of any computation; if
                           all the rights, options or warrants are not so issued
                           or if all rights, options or warrants are not
                           exercised prior to the expiration thereof, the
                           Exchange Number shall be readjusted to the Exchange
                           Number in effect immediately prior to the record
                           date, and the Exchange Number shall be further
                           adjusted based upon the number of Offered Shares (or
                           Convertible Securities into Offered Shares) actually
                           delivered upon the exercise of the rights, options or
                           warrants, as the case may be, but subject to any
                           other adjustment required hereunder by reason of any
                           event arising after that record date.

                  (c)      If during the Exercise Period the Corporation shall
                           issue or distribute to all or substantially all the
                           holders of Common Shares, (i) shares of any class
                           other than Common Shares, or (ii) rights, options or
                           warrants and other than rights, options or warrants
                           exercisable within 45 days from the date of issue
                           thereof at a price, or at a conversion price, of at
                           least 95% of the Current Market Price at the record
                           date for such distribution, or (iii) evidences of
                           indebtedness, or (iv) any other assets (excluding
                           cash dividends that a Holder otherwise is entitled to
                           receive) and that issuance or distribution does not
                           constitute a Share Reorganization or a Rights
                           Offering (any of those events being herein called a
                           "Special

                                     -6-
<PAGE>

                           Distribution"), the Exchange Number shall be
                           adjusted effective immediately after the record date
                           at which the holders of Common Shares are determined
                           for purposes of the Special Distribution to an
                           Exchange Number that is the product of (1) the
                           Exchange Number in effect on the record date and (2)
                           a fraction:

                           (i)      the numerator of which shall be the product
                                    of (I) the sum of the number of Common
                                    Shares outstanding on the record date plus
                                    the number of Common Shares which all
                                    holders of the Special Warrants would be
                                    entitled to receive upon exercise of all
                                    their outstanding Special Warrants if they
                                    were exercised on the record date and (II)
                                    the Current Market Price thereof on that
                                    date; and

                           (ii)     the denominator of which shall be:

                                    A.      the product of (I) the sum of the
                                            number of Common Shares outstanding
                                            on the record date plus the number
                                            of Common Shares which the holders
                                            of all Special Warrants would be
                                            entitled to receive upon exercise of
                                            all their outstanding Special
                                            Warrants if they were exercised on
                                            the record date and II) the Current
                                            Market Price thereof on that date;

                                            less

                                    B.      the aggregate fair market value, as
                                            determined by the board, whose
                                            determination, absent manifest
                                            error, shall be conclusive, of the
                                            shares, rights, options, warrants,
                                            evidences of indebtedness or other
                                            assets issued or distributed in the
                                            Special Distribution.

                           Any Common Shares owned by or held for the account of
                           the Corporation shall be deemed not to be outstanding
                           for the purpose of any such computation; to the
                           extent that the distribution of shares, rights,
                           options, warrants, evidences of indebtedness or
                           assets is not so made or to the extent that any
                           rights, options or warrants so distributed are not
                           exercised, the Exchange Number shall be readjusted to
                           the Exchange Number that would then be in effect
                           based upon shares, rights, options, warrants,
                           evidences of indebtedness or assets actually
                           distributed or based upon the number of Common Shares
                           or Convertible Securities actually delivered upon the
                           exercise of the rights, options or warrants, as the
                           case may be, but subject to any other adjustment
                           required hereunder by reason of any event arising
                           after the record date.

                  (d)      If during the Exercise Period there is a
                           reorganization of the Corporation not otherwise
                           provided for in Subsection 2.1(a) or a consolidation
                           or merger or amalgamation of the Corporation with or
                           into another body corporate including a transaction
                           whereby all or substantially all of the Corporation's
                           undertaking and assets become the property of any
                           other corporation (any such event being herein called
                           a "Capital Reorganization") the Holder, if the Holder
                           has not exercised his or her right to exchange his or
                           her Special Warrant for Common Shares prior to the
                           effective date of the Capital Reorganization, shall
                           be entitled to receive and shall accept, upon the
                           exercise of his or her right at any time after the
                           effective

                                     -7-
<PAGE>

                           date of the Capital Reorganization, in lieu of the
                           number of Common Shares (and any other securities or
                           properties to which the Holder is entitled upon
                           exercise of the Special Warrants) to which he or she
                           was theretofore entitled upon exercise of the
                           Special Warrants, the aggregate number of shares or
                           other securities or property of the Corporation, or
                           the continuing, successor or purchasing corporation,
                           as the case may be, under the Capital Reorganization
                           that the Holder would have been entitled to receive
                           as a result of the Capital Reorganization if, on the
                           effective date thereof, he or she had been the
                           holder of the number of Common Shares (and any other
                           securities to which the Holder is entitled upon
                           exercise of the Special Warrants) to which
                           immediately before the transaction he or she was
                           entitled upon exercise of the Special Warrants; no
                           Capital Reorganization shall be carried into effect
                           unless all necessary steps shall have been taken so
                           that the Holder shall thereafter be entitled to
                           receive the number of shares or other securities or
                           property of the Corporation, or of the continuing,
                           successor or purchasing corporation, as the case may
                           be, under the Capital Reorganization, subject to
                           adjustment thereafter in accordance with provisions
                           the same, as nearly as may be possible, as those
                           contained in this Section 2.1.

                  (e)      If the Corporation shall reclassify or otherwise
                           change the outstanding Common Shares, the exercise
                           right shall be adjusted effective immediately upon
                           the reclassification becoming effective so that the
                           if Holder were to exercise his or her right
                           thereafter, the Holder shall be entitled to receive
                           such shares as he or she would have received had the
                           Special Warrants been exercised immediately prior to
                           the effective date, subject to adjustment thereafter
                           in accordance with provisions the same, as nearly as
                           may be possible, as those contained in this Section
                           2.1.

         2.2      ADJUSTMENTS CUMULATIVE

                  The adjustments provided for in Section 2.1 are cumulative
and shall apply (without duplication) to successive Capital Reorganizations or
other events resulting in any adjustment under the provisions of Section 2.1;
provided that, notwithstanding any other provision of this Section 2, no
adjustment shall be made in the number of Common Shares which may be acquired
on the exercise hereof unless it would result in a change of at least
one-hundredth of a Common Share (provided, however, that any adjustments which
by reason of this Section 2.2 are not required to be made shall be carried
forward and taken into account in any subsequent adjustment).

         2.3      NO ADJUSTMENT

                  No adjustment in the number of Common Shares which may be
acquired upon the exercise hereof shall be made in respect of any event
described in Section 2.1 if the Holder is entitled to participate in such event
on the same terms MUTATIS MUTANDIS as if the Holder had exercised or had been
deemed to have exercised its Special Warrants prior to or on the effective date
or record date of such event.

         2.4      ADJUSTMENT BY DIRECTORS

                  In the event that the Corporation after the date hereof shall
take any action affecting the Common Shares other than action described in this
Section 2, which in the opinion of the directors of the

                                     -8-
<PAGE>

Corporation would materially affect the rights of holders of the Special
Warrants, the number of Common Shares which may be acquired upon the exercise
hereof shall be adjusted in such manner and at such time, by action by the
directors, in their sole discretion as they may determine to be equitable in
the circumstances. Failure of the directors to make such an adjustment shall be
conclusive evidence that the directors have determined that it is equitable to
make no adjustment in the circumstances. In the event that any such adjustment
is made, the Corporation shall deliver a certificate to the Holder describing
such adjustment.

         2.5      ABANDONING CAPITAL REORGANIZATION

                  If the Corporation shall set a record date to determine the
holders of the Common Shares for the purpose of entitling them to receive any
issue or distribution or for the issue of any rights, options or warrants and
shall thereafter and before such distribution or issue to such shareholders
legally abandon its plan to make such distribution or issue, then no adjustment
in the number of Common Shares which may be acquired upon the exercise hereof
shall be required by reason of the setting of such record date.

         2.6      CONDITION PRECEDENT

                  As a condition precedent to the taking of any action which
would require an adjustment pursuant to Section 2.1, the Corporation shall take
any action which may, in the opinion of counsel, be necessary in order that the
Corporation may validly and legally issue as fully paid and non-assessable all
Common Shares which the Holder is entitled to receive on the full exercise
hereof in accordance with the provisions hereof.

         2.7      NOTICE

                  Forthwith after any adjustment in the number of Common Shares
to which the Holder is entitled pursuant to this Section 2, the Corporation
shall deliver a notice of such adjustment to the Holder setting forth in
reasonable detail the method of calculation and the facts upon which such
calculation is based.

         2.8      REFERENCE TO LEGAL COUNSEL

                  In case a state of facts shall exist to which the provisions
of this Section 2 are not strictly applicable, or if strictly applicable
operate in an unclear manner or in a manner that would not fairly adjust the
rights of the Holder against dilution in accordance with the intent and
purposes hereof, the Corporation shall execute and deliver to the Holder an
amendment hereto providing for an adjustment in the application of such
provisions so as to adjust such rights as aforesaid in accordance with the
opinion of counsel to the Corporation, to whom the Corporation or the Holder
may refer any such question.

3.       SPECIAL WARRANT REGISTER

         A register shall be kept by the Registrar and Transfer Agent at its
principal office in the City of Toronto, and at such other offices as may be
required by law wherein shall be entered the name, address and description of
the registered holders of the Special Warrants and particulars of the Special
Warrants.

4.       COVENANTS

         The Corporation covenants with the Holder that so long as any of the
Special Warrants remain outstanding, it will:

                                     -9-
<PAGE>

                  (a)      at all times maintain its corporate existence and
                           will keep or cause to be kept proper books of account
                           in accordance with generally accepted accounting
                           principles and will send to the Holder copies of all
                           financial statements and other material furnished to
                           the holders of Common Shares;

                  (b)      if any instrument is required to be filed with, or
                           any permission, order or ruling is required to be
                           obtained from the securities regulatory authority in
                           the Offering Jurisdiction or any other step is
                           required before the Common Shares may be issued or
                           delivered to the Holder, use its best efforts to file
                           such instrument, obtain such permission, order or
                           ruling or take all such other action, at its expense,
                           as is required or appropriate in the circumstances;
                           and

                  (c)      cause the Common Shares from time to time issued
                           pursuant to the exercise of the Special Warrants, and
                           the certificates representing such Common Shares, to
                           be issued and delivered in accordance with the
                           Special Warrants and the terms hereof and cause all
                           Common Shares that are issued upon the exercise of
                           the Special Warrants to be issued as fully paid and
                           non-assessable.

5.       ISSUE IN SUBSTITUTION FOR LOST SPECIAL WARRANTS

         5.1      ISSUE OF NEW CERTIFICATES

                  In case this Special Warrant Certificate shall become
mutilated or be lost, destroyed or stolen, the Corporation, subject to
applicable law and to section 1.4, shall issue and thereupon the Registrar and
Transfer Agent shall certify and deliver a new Special Warrant Certificate of
like date and tenor as the one mutilated, lost, destroyed or stolen upon
surrender of and in place of and upon cancellation of the mutilated Special
Warrant Certificate or in lieu of and in substitution for the lost, destroyed
or stolen Special Warrant Certificate and the substituted Special Warrant
Certificate shall be in a form approved by the Registrar and Transfer Agent and
shall rank equally in accordance with its terms with the previous Special
Warrant Certificate issued to the Holder.

         5.2      RESTRICTIONS TO ISSUE OF NEW CERTIFICATES

                  The applicant for the issue of a new Special Warrant
Certificate pursuant to this section 4 shall bear the cost of the issue thereof
and in case of loss, destruction or theft shall, as a condition precedent to
the issue thereof, furnish to the Corporation and to the Registrar and Transfer
Agent such evidence of ownership and of the loss, destruction or theft of the
Special Warrant Certificate so lost, destroyed or stolen as shall be
satisfactory to the Corporation and to the Registrar and Transfer Agent in
their discretion and the applicant may also be required to furnish an indemnity
in amount and form satisfactory to them in their discretion, and shall pay the
reasonable charges of the Corporation and the Registrar and Transfer Agent in
connection therewith.

6.       EXCHANGE OF SPECIAL WARRANTS

         6.1      EXCHANGES FOR NEW CERTIFICATES

                  This Special Warrant Certificate may, upon compliance with
the reasonable requirements of the Registrar and Transfer Agent, be exchanged
for one or more Special Warrant Certificates representing Special Warrants
entitling the Holder to acquire an equal aggregate number of Common Shares.

                                     -10-
<PAGE>

         6.2      RESTRICTIONS TO EXCHANGES FOR NEW CERTIFICATES

                  Special Warrants may be exchanged only at the principal
transfer office of the Registrar and Transfer Agent in the City of Toronto,
Ontario at the address set forth herein designated by the Corporation or at any
other place that is designated by the Corporation. Any Special Warrants
tendered for exchange shall be surrendered to the Registrar and Transfer Agent
and canceled. The Corporation shall sign all Special Warrant Certificates
necessary to carry out exchanges as aforesaid and those Special Warrant
Certificates shall be certified by or on behalf of the Registrar and Transfer
Agent.

7.       TRANSFER OF SPECIAL WARRANTS

         The Holder may transfer and exercise the Special Warrants evidenced
hereby either in whole or in part by completing Schedule B hereto. Every
transfer of Special Warrants must be in writing under the hand of the
registered Holder(s) or the Holder(s)' legal personal representatives or the
attorney authorized in writing of such registered Holder(s). Any such transfer,
accompanied by this Special Warrant Certificate, must be delivered to the
Registrar and Transfer Agent at its principal office in the City of Toronto,
together with such evidence of identity or title as the Registrar and Transfer
Agent may reasonably require, whereupon the transfer will be registered and
duly noted by endorsement hereon signed by the Registrar and Transfer Agent. If
part only of the Special Warrants evidenced hereby is transferred, the
Registrar and Transfer Agent will deliver to the Holder and the transferee
replacement Special Warrant certificates substantially in the form of this
certificate.

         TRANSFERS OF THE SPECIAL WARRANTS EVIDENCED HEREBY MAY BE SUBJECT TO
RESTRICTIONS UNDER APPLICABLE SECURITIES LAW. HOLDERS OF SPECIAL WARRANTS
SHOULD CONSULT THEIR OWN PROFESSIONAL ADVISERS IN ORDER TO ASSESS THE LEGAL
ASPECTS OF A TRANSFER OF THE SPECIAL WARRANTS EVIDENCED HEREBY.

8.       EXTRAORDINARY RESOLUTIONS

         The Holders of Special Warrants shall have the power from time to time
by an extraordinary resolution (as hereinafter defined):

                  (a)      to sanction any modification, abrogation, alteration
                           or compromise of the rights of the Holders of Special
                           Warrants against the Corporation which shall be
                           agreed to by the Corporation; and/or

                  (b)      to assent to any modification of or change in or
                           omission from the provisions contained herein or in
                           any instrument ancillary or supplemental hereto which
                           shall be agreed to by the Corporation; and/or

                  (c)      to restrain any Holder of a Special Warrant from
                           taking or instituting any suit or proceedings against
                           the Corporation for the enforcement of any of the
                           covenants on the part of the Corporation conferred
                           upon the Holders by the terms of the Special
                           Warrants.

         Any such extraordinary resolution as aforesaid shall be binding upon
all the Holders of Special Warrants whether or not any particular Holder has
assented to in writing to any such extraordinary resolution, and each Holder of
any of the Special Warrants shall be bound to give effect thereto accordingly.
Such extraordinary resolution shall, where applicable, be binding on the
Corporation which shall give effect thereto accordingly.

                                     -11-
<PAGE>

         The Corporation shall forthwith upon receipt of an extraordinary
resolution provide notice to all Holders of the date and text of such
resolution. The Holders of Special Warrants assenting to an extraordinary
resolution agree to provide the Corporation forthwith with a copy of any
extraordinary resolution passed.

         The expression "extraordinary resolution" when used herein shall mean
a resolution assented to in writing, in one or more counterparts, by the
Holders of Special Warrants entitled to acquire not less than seventy-five per
cent (75%) of the aggregate number of Common Shares that can be acquired
pursuant to all Special Warrants which are, at the applicable time, outstanding.

9.       NOTICES

         Any notice or other communication, including a demand or a direction,
required or permitted to be given hereunder shall be in writing and shall be
given by facsimile or other means of electronic communication or by
hand-delivery as hereinafter provided. Any such notice or other communication,
if sent by facsimile or other means of electronic communication, shall be
deemed to have been received on the business day following the sending, or if
delivered by hand shall be deemed to have been received at the time it is
delivered to the applicable address noted below either to the individual
designated below or to a senior employee of the addressee at such address with
responsibility for matters to which the information relates. Notice of change
of address shall also be governed by this Section 9. Notice and other
communications shall be addressed as follows:

                  (a)      in the case of the Corporation:

                           Inzeco Holdings Inc.
                           c/o Stikeman, Graham & Keeley
                           7th Floor, 220 Bay Street
                           Toronto, Ontario M5J 2W4
                           Attention: Robert H. Stikeman
                           Telephone number: (416) 367-1930
                           Telecopier number: (416) 365-1813

                  (b)      in the case of the Holder, at the address of the
                           Holder as set forth on the Special Warrant Register.

                  (c)      in the case of the Registrar and Transfer Agent:

                           Inzeco Holdings Inc.
                           c/o Stikeman, Graham & Keeley
                           7th Floor, 220 Bay Street
                           Toronto, Ontario M5J 2W4
                           Attention: Robert H. Stikeman
                           Telephone number: (416) 367-1930
                           Telecopier number: (416) 365-1813

10.      GOVERNING LAW

         The Special Warrants shall be governed by the laws of the Province of
Ontario.

                                     -12-
<PAGE>

11.      TIME OF THE ESSENCE

         Time shall be of the essence hereof.

12.      BUSINESS DAY

         In the event that any date upon or by which any other action is
required to be taken by the Corporation or the Holder is not a business day,
then such action shall be required to be taken on or by the next succeeding day
which is a business day.

13.      NUMBER AND GENDER

         Words importing the singular number only include the plural and vice
versa and words importing any gender include all genders.

14.      HEADINGS

         The division of this Special Warrant certificate into sections,
clauses, subclauses or other subdivisions and the insertion of headings are for
convenience of reference only and shall not affect the construction or
interpretation hereof.

15.      BINDING EFFECT

         The terms and conditions of the Special Warrants as set out herein
shall enure to the benefit of and be binding upon the registered Holder(s)
hereof, its heirs, executors, administrators, successors and assigns to the
extent provided herein and shall enure to the benefit of and be binding upon
the Corporation and its respective successors and assigns.

16.      SEVERABILITY

         In the event any provision hereof shall be void or unenforceable for
any reason, it shall be severed from the remainder of the provisions hereof and
such remainder shall remain in full force and effect notwithstanding such
severance. Any court with jurisdiction over any dispute with respect to the
Special Warrants may amend the provisions hereof to the minimum extent required
to render the impugned provision valid and enforceable.

17.      LANGUAGE

         The parties hereto confirm their express wish that this certificate
and all documents and agreements directly or indirectly relating hereto be
drawn up in the English language. Notwithstanding such express wish, the
parties agree that any such document or agreement, or any part thereof or of
this certificate may be drawn up in the French language.

         Les parties reconnaissent leur volonte expresse que le present acte de
fiducie ainsi que tous les documents et contrats s'y rattachant directement ou
indirectement soient rediges en anglais. Nonobstant cette volonte expresse, les
parties conviennent que tout document ou contrat, ou toute partie de ces
derniers ou du present acte de fiducie, puissent etre rediges en francais.

                                     -13-
<PAGE>

         IN WITNESS WHEREOF the Corporation has executed this Special Warrant
certificate under its corporate seal this 3rd day of June, 2000.

                                             INZECO HOLDINGS INC.

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

THE HOLDING OF THIS WARRANT DOES NOT CONSTITUTE THE HOLDER A SHAREHOLDER OF THE
CORPORATION NOR ENTITLE THE HOLDER TO ANY RIGHT OR INTEREST IN RESPECT HEREOF
EXCEPT AS HEREIN EXPRESSLY PROVIDED.

                                     -14-
<PAGE>

                                   SCHEDULE A

                          SPECIAL WARRANT EXERCISE FORM

TO:      INZECO HOLDINGS INC.

         The undersigned registered Holder of the Special Warrants represented
by the within certificate hereby exercises the right to acquire _________
Common Shares of INZECO HOLDINGS INC. pursuant to the within Special Warrant
certificate on the terms specified in the within Special Warrant certificate,
which certificate is hereby surrendered to the Corporation and which will, upon
due issuance of the Common Shares aforesaid, be null and void.

         The Common Shares will be issued as set forth below and will be mailed
to the address set forth below.

         DATED this    day of          , 200  .

---------------------------           --------------------------------
Witness                               Signature of Holder

---------------------------
Signature Guaranteed By (1)

(1)      If the Common Shares are to be registered in a name other than the name
         of the Holder, the Holder must pay to the Registrar and Transfer Agent
         all eligible taxes and the signature of the Holder must be guaranteed
         by a Bank or Trust Company or by a member of the Toronto, Vancouver or
         Montreal stock exchanges.

Print below the name and address in full of the person in whose name the Common
Shares subscribed for are to be issued. If the Common Shares subscribed for are
to be issued to more than one person, similar information must be provided for
each person, as well as the number of Common Shares to be issued to each. (If
any of the Common Shares are to be issued to a person or persons other than the
Holder of the within Special Warrant certificate, the Holder must pay to the
Corporation all requisite taxes.)

Name __________________________________________________________________________

Address _______________________________________________________________________

_______________________________________________________________________________

_______________________________________________________________________________
                                                                    Postal Code

                                     -15-
<PAGE>

                                   SCHEDULE B

                                FORM OF TRANSFER

FOR VALUE RECEIVED the undersigned Holder of the Special Warrants of INZECO
HOLDINGS INC. evidenced by the within Special Warrant Certificate hereby sells,
assigns and transfers such Special Warrants unto

_______________________________________________________________________________

_______________________________________________________________________________

_______________________________________________________________________________

of_____________________________________________________________________________

         DATED this    day of          , 200  .

---------------------------
Witness

                                  --------------------------------
                                  Signature of Holder

                                  --------------------------------
                                  Name of Holder

---------------------------
Signature Guaranteed By

                                  --------------------------------

                                  --------------------------------

                                  --------------------------------
                                  Address of Holder

NOTE:    THE SIGNATURES TO THIS TRANSFER MUST CORRESPOND WITH THE NAME AS
         RECORDED ON THE SPECIAL WARRANT CERTIFICATE IN EVERY PARTICULAR WITHOUT
         ENLARGEMENT OR ALTERATION OR ANY CHANGE WHATSOEVER. THE SIGNATURE OF
         THE PERSON EXECUTING THIS TRANSFER MUST BE GUARANTEED BY A BANK OR
         TRUST COMPANY OR BY A MEMBER OF THE TORONTO, VANCOUVER OR MONTREAL
         STOCK EXCHANGES.

                                      -16-

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