Document:

Exhibit 4.6
                                   -----------
          Investors Receiving Warrants in Form Set Forth in Exhibit 4.5

         The following entities received warrants in a private placement of
securities on June 21, 1999, pursuant to warrant certificates substantially to
the form set forth in Exhibit 4.5. The differences between these agreements was
the entity receiving warrants and the amount of warrants received.

                      Warrant Holder                Number of Warrants
                      --------------                ------------------
                    Thomas E. Skidmore                    57,546

                    A. Allan Skidmore                     57,546

                     Arthur Skidmore                       8,340

                      Brian Skidmore                       6,255

                      Cary Skidmore                        8,340

                      Garry Skidmore                       6,255

                     Beverly Droulis                        417

                     Margrit Hartman                       7,506

                 Margaret Alexis Kennedy                   7,089

                     Suzanne Lowndes                       7,506

913539.1EXHIBIT 4.7

                           Form of Warrant Certificate

THE SECURITIES EVIDENCED HEREBY AND THE SECURITIES ISSUABLE UPON EXERCISE HEREOF
HAVE NOT BEEN REGISTERED  UNDER THE SECURITIES ACT OF 1933, AS AMENDED  ("ACT"),
OR UNDER THE SECURITIES LAWS OF ANY STATE, AND MAY NOT BE OFFERED OR SOLD EXCEPT
PURSUANT TO (I) AN EFFECTIVE  REGISTRATION  STATEMENT UNDER THE ACT, (II) TO THE
EXTENT  APPLICABLE,  RULE 144 UNDER THE ACT (OR ANY SIMILAR  RULE UNDER SUCH ACT
RELATING TO THE DISPOSITION OF SECURITIES),  OR (III) AN OPINION OF COUNSEL,  IF
SUCH OPINION SHALL BE REASONABLY  SATISFACTORY  IN FORM AND SUBSTANCE TO COUNSEL
TO THE ISSUER, THAT AN EXEMPTION FROM REGISTRATION UNDER SUCH ACT IS AVAILABLE.

Void  after  2:00 p.m.  New York  Time,  on the  earlier  of (i) the  three-year
anniversary date of the effectiveness of the Registration  Statement (as defined
herein), or (ii) December __, 2009 (the "Expiration Date")

                   Warrant to Purchase Shares of Common Stock

                             JAWS TECHNOLOGIES, INC.
                    COMMON STOCK PURCHASE WARRANT CERTIFICATE

Warrant No. ___                                        _____________ WARRANTS(1)

         This is to Certify That, FOR VALUE RECEIVED,________________ or assigns
("Holder"), is entitled to purchase,  subject to the provisions of this Warrant,
from  JAWS  TECHNOLOGIES,  INC.,  ("Company"),____________________  of the fully
paid,  validly issued and nonassessable  shares of common stock, par value $.001
per  share,  of the  Company  ("Common  Stock") at any time or from time to time
during  the period  from the date  hereof,  on or before the  earlier of (i) the
three-year  anniversary date of the effectiveness of the Registration  Statement
(as defined herein),  or (ii) December __, 2009 (the "Expiration Date"), but not
later than 2:00 p.m. New York Time, on the applicable Expiration Date ("Exercise
Period"). The price to be paid for each share of Common Stock shall be U.S.$6.50
per share.  The shares of Common Stock  deliverable  upon such exercise,  and as
adjusted from time to time,  are  hereinafter  sometimes  referred to as"Warrant
Shares" and the  respective  exercise price of a share of Common Stock in effect
at any time and as adjusted from time to time is hereinafter  sometimes referred
to as the "Exercise Price."

a.       Exercise of Warrant.  The Holder may exercise  this Warrant in whole or
         in part,  at any time or from  time to time on any  Business  Day on or
         prior to the  Expiration  Date,  by

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1   Each  Warrant  will  entitle  the holder to acquire 1/2 of a share of Common
    Stock.

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         delivering  to the  Company  a  duly  executed  notice  (a  "Notice  of
         Exercise") in the form of Annex A hereto,  by payment to the Company of
         the Exercise  Price per Warrant Share in an amount equal to the product
         of (i) the Exercise Price times (ii) the number of Warrant Shares as to
         which this Warrant is being exercised.

         (i)      As soon as  practicable  after the Company shall have received
                  such Notice of Exercise and any required payment,  the Company
                  shall  execute  and  deliver  or  cause  to  be  executed  and
                  delivered,  in accordance with such Notice of Exercise, to the
                  Holder at the  address  set forth in such Notice of Exercise a
                  certificate or certificates  representing the number of shares
                  of Common  Stock  specified  in such Notice of  Exercise.  The
                  Warrant shall be deemed to have been  exercised and such share
                  certificate  or  certificates  shall be  deemed  to have  been
                  issued,  and the Holder  shall be deemed for all  purposes  to
                  have become a holder of record of shares of Common  Stock,  as
                  of the date that  such  Notice of  Exercise  and any  required
                  payment shall have been received by the Company.
         (ii)     The Holder shall  surrender  this Warrant  certificate  of the
                  Company when it delivers  the Notice of  Exercise,  and in the
                  event of a partial exercise of the Warrant,  the Company shall
                  execute  and  deliver to the  Holder,  at the time the Company
                  delivers the share certificate or certificates issued pursuant
                  to such Notice of Exercise,  a new Warrant certificate for the
                  unexercised  portion of the Warrant,  but in all other respect
                  identical to this Warrant certificate.

         (iii)    The Company shall not be require to issue fractional shares of
                  Common Stock upon an exercise of the Warrant.  If any fraction
                  of a share would, but for this  restriction,  be issuable upon
                  an  exercise  of the  Warrant,  in  lieu  of  delivering  such
                  fractional  share,  the Company  shall pay to the  Holder,  in
                  cash, an amount equal to the same  fraction  times the Current
                  Market Value (as defined in Sections c.(1),  c.(2),  and c.(3)
                  below, as applicable) for the Common Stock  immediately  prior
                  to the  date of  such  exercise.  The  Company  shall  pay all
                  expenses,  taxes and other charges  payable in connection with
                  the preparation, issuance and delivery of certificates for the
                  Warrant Shares and any new Warrant certificates.

b.       Reservation  of Shares.  The  Company  shall at all times  reserve  for
         issuance  and/or  delivery upon exercise of this Warrant such number of
         shares  of its  Common  Stock as shall be  required  for  issuance  and
         delivery upon exercise of the Warrants.

c.       Fractional   Shares.  No  fractional  shares  or  script   representing
         fractional  shares shall be issued upon the  exercise of this  Warrant.
         With  respect to any  fraction of a share  called for upon any exercise
         hereof,  the Company shall pay to the Holder an amount in cash equal to
         such fraction  multiplied by the Current Market Value of a share, which
         shall have the following meaning:

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         (1)      If  the  Common  Stock  is  listed  on a  National  Securities
                  Exchange or admitted to unlisted  trading  privileges  on such
                  exchange or included for quotation on the NASDAQ  system,  the
                  Current  Market Value shall be the last reported sale price of
                  the  Common  Stock on such  exchange  or  automated  quotation
                  system on the last  business day prior to the date of exercise
                  of this  Warrant or if no such sale is made (or  reported)  on
                  such day,  the average  closing bid and asked  prices for such
                  day on such exchange or system; or

         (2)      If the Common  Stock is not so listed or  admitted to unlisted
                  trading privileges, the Current Market Value shall be the mean
                  of the last  reported  bid and asked  prices  reported  by the
                  Electronic  Bulletin Board or National Quotation Bureau,  Inc.
                  on the last  business day prior to the date of the exercise of
                  this Warrant; or

         (3)      If the Common  Stock is not so listed or  admitted to unlisted
                  trading  privileges  and  bid  and  asked  prices  are  not so
                  reported,  the Current  Market  Value shall be an amount,  not
                  less than book value  thereof as at the end of the most recent
                  fiscal  year of the  Company  ending  prior to the date of the
                  exercise of the Warrant,  determined in such reasonable manner
                  as may be  prescribed by the Board of Directors of the Company
                  (the "Board").

d.       Exchange,  Transfer,  Assignment  or Loss of Warrant.  This  Warrant is
         exchangeable,  without  expense,  at the  option  of the  Holder,  upon
         presentation  and surrender hereof to the Company for other warrants of
         different denominations entitling the holder thereof to purchase in the
         aggregate  the same  number  of  shares  of  Common  Stock  purchasable
         hereunder.  Upon  surrender  of  this  Warrant  to the  Company  at its
         principal office, with the Assignment Form annexed hereto duly executed
         and funds  sufficient  to pay any  transfer  tax,  the  Company  shall,
         without  charge,  execute  and deliver a new Warrant in the name of the
         assignee named in such  instrument of assignment and this Warrant shall
         promptly be  canceled.  This  Warrant  may be divided or combined  with
         other warrants which carry the same rights upon presentation  hereof at
         the principal  office of the Company,  together  with a written  notice
         specifying the names and  denominations in which new Warrants are to be
         issued and  signed by the  Holder  hereof.  The  term"Warrant"  as used
         herein  includes any warrants into which this Warrant may be divided or
         exchanged.  Upon receipt of 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)  of  reasonably  satisfactory
         indemnification,  and upon surrender and  cancellation of this Warrant,
         if  mutilated,  the Company  will  execute and deliver a new Warrant of
         like tenor and date. Any such new Warrant  executed and delivered shall
         constitute  an  additional  contractual  obligation  on the part of the
         Company,  whether or not this Warrant so lost,  stolen,  destroyed,  or
         mutilated shall be at any time enforceable by anyone.

e.       Rights of the  Holder.  The Holder  shall  not,  by virtue  hereof,  be
         entitled to any rights of a shareholder  in the Company,  either at law
         or equity,  and the rights of the Holder are

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         limited  to those  expressed  in the  Warrant  and are not  enforceable
         against the Company except to the extent set forth herein.

f.       Anti-Dilution  Provisions.  The respective  Exercise Price in effect at
         any time and the number  and kind of  securities  purchasable  upon the
         exercise of the Warrants  shall be subject to  adjustment  from time to
         time upon the happening of certain events as follows:

         (1)      In case the  Company  shall (i)  declare a dividend  or make a
                  distribution  on its  outstanding  shares of  Common  Stock in
                  shares of Common  Stock,  (ii)  subdivide  or  reclassify  its
                  outstanding  shares of Common  Stock into a greater  number of
                  shares, or (iii) combine or reclassify its outstanding  shares
                  of  Common  Stock  into  a  smaller  number  of  shares,   the
                  respective  Exercise Price in effect at the time of the record
                  date for such  dividend or  distribution  or of the  effective
                  date  of such  subdivision,  combination  or  reclassification
                  shall be adjusted so that it shall equal the price  determined
                  by multiplying  the  respective  Exercise Price by a fraction,
                  the  denominator  of which  shall be the  number  of shares of
                  Common  Stock  Outstanding  (as defined  below)  after  giving
                  effect to such action, and the numerator of which shall be the
                  number of shares of Common Stock Outstanding immediately prior
                  to such action.  Such  adjustment  shall be made  successively
                  whenever any event listed above shall occur.

         (2)      In the event that the Company shall  distribute to all holders
                  of shares of Common  Stock  (including  any such  distribution
                  made to the  shareholders  of the Company in connection with a
                  consolidation  or merger in which the Company is the surviving
                  or continuing corporation) evidences of its indebtedness, cash
                  or assets (other than  distributions  and dividends payable in
                  Shares of Common  Stock),  or rights,  options or  warrants to
                  subscribe for or purchase shares of Common Stock or securities
                  convertible or exchangeable into shares of Common Stock, then,
                  in  each  case,  the  Exercise  Price  shall  be  adjusted  by
                  multiplying the Exercise Price in effect  immediately prior to
                  the record date for the determination of shareholders entitled
                  to receive such  distribution by a fraction,  the numerator of
                  which shall be the Current  Market  Value of a share of Common
                  Stock for the twenty (20) days  ending on the seventh  trading
                  day proceeding such distribution on such record date, less the
                  fair market value (as  determined by the Board) of the portion
                  of the evidences of  indebtedness or assets to be distributed,
                  or of such  rights,  options or  warrants  or  convertible  or
                  exchangeable   securities,   or  the   amount  of  such  cash,
                  applicable  to one share of Common Stock  Outstanding  on such
                  record date and the denominator of which shall be such Current
                  Market Value per share. Such adjustment shall become effective
                  at the close of business on such record date.

         (3)      In the event that the Company  shall sell or issue at any time
                  after the date hereof  shares of Common  Stock (other than the
                  Excluded Stock, as defined below) at a consideration per share
                  less than the Current Market Value in effect immediately

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                  prior to the time of such sale or  issuance,  then,  upon such
                  sale or issuance,  the  Exercise  Price shall be reduced to an
                  adjusted price  (calculated to the nearest cent) determined by
                  dividing  (i) the sum of (A) the  total  number  of  shares of
                  Common Stock Outstanding (as defined below)  immediately prior
                  to  such  sale or  issuance  multiplied  by the  then-existing
                  Exercise  Price,  plus (B) the  aggregate of the amount of all
                  consideration,  if any, received by the Company upon such sale
                  or  issuance,  by (ii) the  total  number  of shares of Common
                  Stock  Outstanding  immediately  after such sale or  issuance;
                  provided,  however,  that  the  Exercise  Price  shall  not be
                  reduced  unless the issuance is at a per share price below the
                  Current  Market Value and is also below the greater of (i) the
                  lesser of (A) US $6.50,  and (B) eighty  percent  (80%) of the
                  Current  Market  Value per share of the shares of Common Stock
                  for the twenty  (20) days  ending on the  seventh  trading day
                  preceding the date of the Company's issuance of such shares of
                  Common Stock, and (ii) US $4.25; provided,  further,  however,
                  that  if  the  Exercise  Price  is  reduced  pursuant  to  the
                  foregoing provision, it shall be reduced only to the extent of
                  the  difference   between  the  applicable  per  share  amount
                  calculated  pursuant to the preceding clauses (i) and (ii) and
                  the applicable issuance price per share.

                  Notwithstanding  anything herein to the contrary, the Exercise
                  Price shall not be adjusted pursuant to Section f(3) by virtue
                  of the issuance  and/or sale of  "Excluded  Stock" which shall
                  mean the  following:  (i) shares of Common Stock,  Options (as
                  defined below),  or Convertible  Securities (as defined below)
                  to be issued and/or sold to employees,  advisors, directors or
                  officers  of, or  consultants  to,  the  Company or any of its
                  subsidiaries  pursuant to a stock  grant,  stock  option plan,
                  restricted stock agreements,  stock purchase plan,  pension or
                  profit sharing plan or other stock  agreement or  arrangement,
                  (ii)  shares  of  Common  Stock,  Options  and/or  Convertible
                  Securities to be issued pursuant to Options and/or Convertible
                  Securities  outstanding as of the date of this Warrant,  (iii)
                  shares of Common Stock and/or Options to be issued pursuant to
                  the  placement  agency  agreement,  to be entered into, by and
                  between the Company and SmallCaps  Online LLC or the placement
                  agency  agreement,  to be entered  into,  by and  between  the
                  Company and Thomson  Kernaghan & Co. Limited,  and (iv) shares
                  of Common  Stock,  Options  or  Convertible  Securities  to be
                  issued and/or sold in connection  with any  acquisition by the
                  Company of any assets or capital  stock of any other person or
                  entity  involved in the  information  security  business.  For
                  purposes of this Section f, all shares of Excluded Stock shall
                  be deemed to have been  issued for an amount of  consideration
                  per share  equal to the  initial  Exercise  Price  (subject to
                  adjustment in the manner set forth herein.

         (4)      Whenever the  respective  Exercise Price payable upon exercise
                  of each Warrant is adjusted  pursuant to Section f(1), f(2) or
                  f(3) above, the number of Shares  purchasable upon exercise of
                  this Warrant shall be adjusted  simultaneously  by multiplying
                  the respective number of Shares issuable upon exercise of this
                  Warrant

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                  immediately prior thereto by the respective  Exercise Price in
                  effect on the date hereof and dividing the product so obtained
                  by the respective Exercise Price, as adjusted.

         (5)      No  adjustment  in the  respective  Exercise  Price  shall  be
                  required unless such  adjustment  would require an increase or
                  decrease of at least one cent ($0.01) in such price; provided,
                  however,  that any adjustment  which by reason of this Section
                  f(5) is not  required to be made shall be carried  forward and
                  taken into account in any subsequent adjustment required to be
                  made hereunder.  All calculations  under this Section f. shall
                  be made to the nearest cent or to the nearest one-hundredth of
                  a share,  as the case may be.  Anything in this  Section f. to
                  the contrary  notwithstanding,  the Company shall be entitled,
                  but  shall  not be  required,  to  make  such  changes  in the
                  respective  Exercise  Price,  in addition to those required by
                  this  Section  f.,  as  it  shall   determine,   in  its  sole
                  discretion,  to be  advisable  in order that any  dividend  or
                  distribution  in shares of Common Stock,  or any  subdivision,
                  reclassification  or  combination  of Common Stock,  hereafter
                  made by the Company shall not result in any Federal Income tax
                  liability  to  the  holders  of  Common  Stock  or  securities
                  convertible into Common Stock (including the Warrants).

         (6)      In the event  that at any time,  as a result of an  adjustment
                  made  pursuant to Section  f(1) to f(3)  above,  the Holder of
                  this Warrant  thereafter  shall become entitled to receive any
                  shares of the Company, other than Common Stock, thereafter the
                  number of such other  shares so  receivable  upon  exercise of
                  this Warrant shall be subject to adjustment  from time to time
                  in a manner and on terms as nearly  equivalent as  practicable
                  to the provisions  with respect to the Common Stock  contained
                  in Sections f(1) to f(3) inclusive above.

         (7)      Irrespective  of any  adjustments in the  respective  Exercise
                  Price or the related number or kind of share  purchasable upon
                  exercise of this Warrant,  Warrants  theretofore or thereafter
                  issued may  continue  to express the same price and number and
                  kind of shares as are stated in the similar Warrants initially
                  issuable pursuant to this Agreement.

         (8)      For purposes of Section f(3), the following  definitions shall
                  apply:

                  (i)      "Convertible  Securities" shall mean any indebtedness
                           or equity securities convertible into or exchangeable
                           for shares of Common Stock.

                  (ii)     "Common Stock  Outstanding"  shall mean the aggregate
                           of all  shares of Common  Stock  outstanding  and all
                           shares  issuable  upon  exercise  of all  outstanding
                           Options and conversion of all outstanding Convertible
                           Securities.

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                  (iii)    "Options" shall mean any rights,  warrants or options
                           to subscribe  for or purchase  shares of Common Stock
                           or Convertible Securities.

         (9)      For purposes of Section f(3), the following  provisions  shall
                  also be applicable:

                  (i)      Cash  Consideration.  In the  event  of the  sale  or
                           issuance  (otherwise  than  conversion or exchange of
                           Convertible   Securities)  of  additional  shares  of
                           Common Stock,  Options or Convertible  Securities for
                           cash,  the  consideration  received  by  the  Company
                           therefor  shall be  deemed  to be the  amount of cash
                           received by the Company for such  securities  (or, if
                           such  securities  are  offered  by  the  Company  for
                           subscription,  the  subscription  price,  or, if such
                           securities  are sold to  underwriters  or dealers for
                           public offering without a subscription  offering, the
                           public offering price),  without deducting  therefrom
                           any  compensation  or  discount  paid or  allowed  to
                           underwriters or dealers or others performing  similar
                           services or for any expenses  incurred in  connection
                           therewith.

                  (ii)     Non-Cash  Consideration.  In the event of the sale or
                           issuance  (otherwise than upon conversion or exchange
                           of Convertible  Securities)  of additional  shares of
                           Common Stock,  Options or Convertible  Securities for
                           consideration other than cash or consideration a part
                           of which shall be other than cash,  the fair value of
                           such  consideration as determined by the Board in the
                           good  faith   exercise  of  its  business   judgment,
                           irrespective  of the  accounting  treatment  thereof,
                           shall be  deemed to be the  value,  for  purposes  of
                           Section  f(3), of the  consideration  other than cash
                           received by the Company for such securities.

                  (iii)    Options and Convertible Securities.  In the event the
                           Company  shall  in any  manner  issue  or  grant  any
                           Options  or any  Convertible  Securities,  the  total
                           maximum  number of shares  of Common  Stock  issuable
                           upon the exercise of such Options or upon  conversion
                           or  exchange  of the  total  maximum  amount  of such
                           Convertible  Securities at the time such  Convertible
                           Securities  first become  convertible or exchangeable
                           shall  (as of the  date of  issue  or  grant  of such
                           Options  or,  in the  case of the  sale or  issue  of
                           Convertible Securities (other that where the same are
                           issuable  upon the  exercise of  Options),  as of the
                           date of such  sale or  issue)  be deemed to be issued
                           and to be outstanding for the purpose of Section f(3)
                           and to have been issued for the sum of the amount (if
                           any) paid for such Options or Convertible  Securities
                           and the amount (if any)  payable upon the exercise of
                           such Options or upon  conversion  or exchange of such
                           Convertible  Securities at the time such  Convertible
                           Securities first became  convertible or exchangeable;
                           provided  that,  subject to the provisions of Section
                           f(10),  no further  adjustment of the Exercise  Price
                           shall be made upon the actual

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                           issuance of any such Shares or Convertible Securities
                           or  upon  the  conversion  or  exchange  of any  such
                           Convertible Securities.

         (10)     In the  event  that the  purchase  price  provided  for in any
                  Option  referred to in Section  f(9)(iii) or the rate at which
                  any Convertible  Securities  referred to in Section  f(9)(iii)
                  are  convertible  into or  exchangeable  for  shares of Common
                  Stock shall change at any time or any additional consideration
                  shall be payable in connection with the exercise of any Option
                  or the  conversion or exchange of any  Convertible  Securities
                  (other  than  under or by reason  of  provisions  designed  to
                  protect against  dilution upon the occurrence of events of the
                  type  described in this Section f), then,  for purposes of any
                  adjustment  required by Section  f(3),  the Exercise  Price in
                  effect at the time of such event shall forthwith be readjusted
                  to the  Exercise  Price that would have been in effect at such
                  time  had  such  Options  or  Convertible   Securities   still
                  outstanding   provided  for  such  changed   purchase   price,
                  conversion rate or additional  consideration,  as the case may
                  be, at the time initially granted,  issued or sold;  provided,
                  that if  such  readjustment  is an  increase  in the  Exercise
                  Price,  such  readjustment  shall not  exceed  the  amount (as
                  adjusted by Section f(1),  f(2) or f(3)) by which the Exercise
                  Price was decreased pursuant to Section f(3) upon the issuance
                  of the Option or Convertible Securities.

         (11)     In the event of the  termination or expiration of any right to
                  purchase shares of Common Stock under any Option granted after
                  the  date  of this  Warrant  or of any  right  to  convert  or
                  exchange Convertible  Securities issued after the date of this
                  Warrant,  the Exercise Price shall,  upon such  termination or
                  expiration,  be  readjusted  to the Exercise  Price that would
                  have  been  in  effect  at the  time of  such  termination  or
                  expiration had such Option or Convertible  Securities,  to the
                  extent  outstanding  immediately  prior to such  expiration or
                  termination,   never  been  issued,  and  the  Share  issuable
                  thereunder  shall no  longer  be  deemed  to be  Common  Stock
                  Outstanding;   provided,  that  if  such  readjustment  is  an
                  increase in the Exercise Price,  such  readjustment  shall not
                  exceed the amount (as adjusted by Section f(1),  f(2) or f(3))
                  by which the Exercise Price was decreased  pursuant to Section
                  f(3)  upon  the   issuance   of  the  Option  or   Convertible
                  Securities.  The  termination  or  expiration  of any right to
                  purchase shares of Common Stock under any Option granted prior
                  to the date of this  Warrant  or of any  right to  convert  or
                  exchange  Convertible  Securities  issued prior to the date of
                  this Warrant shall not trigger any  adjustment to the Exercise
                  Price,  but the  shares of Common  Stock  issuable  under such
                  Options or Convertible  Securities  shall no longer be counted
                  in   determining   the  number  of  shares  of  Common   Stock
                  Outstanding  on the  date  of  issuance  of this  Warrant  for
                  purposes of subsequent calculations under Section f(3).

         (12)     Whenever there shall be adjustment as provided in this Section
                  f, the Company shall within 30 days  thereafter  cause written
                  notice thereof to be sent by registered mail, postage prepaid,
                  to the  Holder,  at its  address  as it  shall  appear  in the
                  Warrant

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                  Register,  which notice shall be  accompanied  by an officer's
                  certificate  setting  forth the  adjusted  number  of  Warrant
                  Shares issuable hereunder and the exercise price thereof after
                  such  adjustment  and setting  forth a brief  statement of the
                  facts requiring such  adjustment and the computation  thereof,
                  which officer's  certificate  shall be conclusive  evidence of
                  the correctness of any such adjustment absent manifest error.

g.       Officer's Certificate.  Whenever the respective Exercise Price shall be
         adjusted as required by the provisions of the foregoing  Section f, the
         Company  shall  forthwith  file in the custody of its  Secretary  or an
         Assistant  Secretary at its principal office, an officer's  certificate
         showing the adjusted  respective  Exercise  Price  determined as herein
         provided,  setting forth in reasonable  detail the facts requiring such
         adjustment,  including a statement of the number of related  additional
         shares  of  Common  Stock,  if any,  and such  other  facts as shall be
         necessary  to show the  reason  for and the  manner of  computing  such
         adjustment.  Each such officer's certificate shall be made available at
         all  reasonable  times for  inspection by the holder or any holder of a
         Warrant  executed and delivered  pursuant to Section a. and the Company
         shall,  forthwith after each such adjustment,  mail a copy by certified
         mail of such certificate to the Holder or any such holder.

h.       Notices  to  Warrant  Holders.   So  long  as  this  Warrant  shall  be
         outstanding,  (i) if the  Company  shall pay any  dividend  or make any
         distribution  upon the Common Stock or (ii) if the Company  shall offer
         to the holders of Common Stock for subscription or purchase by them any
         share  of any  class  or any  other  rights  or  (iii)  if the  capital
         reorganization of the Company, reclassification of the capital stock of
         the  Company,  consolidation  or  merger  of the  Company  with or into
         another  corporation,  sale,  lease or transfer of all or substantially
         all of the property  and assets of the Company to another  corporation,
         or voluntary or involuntary  dissolution,  liquidation or winding up of
         the Company shall be effected, then in any such case, the Company shall
         cause to be mailed by certified  mail to the Holder,  at least  fifteen
         days prior the date specified in (x) or (y) below,  as the case may be,
         a notice  containing a brief  description  of the  proposed  action and
         stating  the date on which (x) action is to be taken for the purpose of
         such dividend,  distribution or rights,  or (y) such  reclassification,
         reorganization,  consolidation, merger, conveyance, lease, dissolution,
         liquidation  or winding up is to take place and the date,  if any is to
         be fixed,  as of which the holders of Common Stock or other  securities
         shall   receive   cash  or  other   property   deliverable   upon  such
         reclassification,  reorganization,  consolidation,  merger, conveyance,
         dissolution, liquidation or winding up. The failure to give such notice
         shall not otherwise effect the action taken by the Company.

i.       Reclassification,    Reorganization   or   Merger.    Incase   of   any
         reclassification, capital reorganization or other change of outstanding
         shares of Common Stock of the Company,  or in case of any consolidation
         or merger of the Company with or into another corporation (other than a
         merger with a subsidiary in which merger the Company is the  continuing
         corporation and which does not result in any reclassification,  capital
         reorganization or

                                       9
897438.7

<PAGE>

         other  change  of  outstanding  shares  of  Common  Stock of the  class
         issuable upon  exercise of this Warrant) or in case of any sale,  lease
         or conveyance to another  corporation of the property of the Company as
         an  entirety,  the  Company  shall,  as a condition  precedent  to such
         transaction,  cause effective  provisions to be made so that the Holder
         shall have the right  thereafter by exercising this Warrant at any time
         prior to the expiration of the Warrant, to purchase the kind and amount
         of shares of stock and other  securities and property  receivable  upon
         such   reclassification,   capital  reorganization  and  other  change,
         consolidation,  merger, sale or conveyance by a holder of the number of
         shares of Common Stock which might have been purchased upon exercise of
         this  Warrant  immediately  prior  to  such  reclassification,  change,
         consolidation,  merger,  sale or conveyance.  Any such provision  shall
         include  provision for adjustments  which shall be as nearly equivalent
         as may be practicable to the adjustments  provided for in this Warrant.
         The foregoing  provisions of this Section i. shall  similarly  apply to
         successive  reclassifications,  capital  reorganizations and changes of
         shares of Common Stock and to successive consolidations, mergers, sales
         or  conveyances.  In the event that in connection with any such capital
         reorganization  or  reclassification,  consolidation,  merger,  sale or
         conveyance,  additional  shares  of  Common  Stock  shall be  issued in
         exchange, conversion, substitution or payment, in whole or in part, for
         a security of the Company other than Common Stock, any such issue shall
         be treated as an issue of Common  Stock  covered by the  provisions  of
         Subsection (1) of Section f hereof.

j.       Call Rights on Warrants.  If at any time following the effectiveness of
         the  registration  statement  that is  filed  in  connection  with  the
         underlying  shares of Common  Stock,  the last  reported sale price per
         share of Common  Stock  exceeds  $9.75 for any  consecutive  thirty day
         trading  period,  then the Company  may, at any time upon thirty  days'
         notice, call and repurchase these Warrants at a call price of $.001 per
         Warrant.  The Company shall exercise the call right specified herein by
         delivery of written notice (the "Call Notice") to the Warrant  holders,
         specifying  the payment  date for the  purchase  thereof by the Company
         (which  payment  date  shall not be prior to thirty  (30) days from the
         date of such notice),  and certifying that the conditions  precedent to
         the call right have been satisfied.  Upon receipt of a Call Notice, the
         Warrant  holder  shall be required  to  surrender  to the Company  this
         Warrant  certificate,  at the  address  specified  in the Call  Notice,
         against the Company's  payment of the  applicable  call price,  without
         interest thereon,  by certified check. Upon delivery of the Call Notice
         and until so surrendered, this Warrant certificate shall be deemed, for
         all  corporate  purposes,  to  evidence  only the right to receive  the
         applicable call price, without interest, upon surrender of this Warrant
         certificate,  and the  Warrant  holder  shall  cease to have all rights
         associated herewith, except as otherwise set forth in this paragraph j.

k.       Registration  Rights and Adjustment to Exercise Price.  Pursuant to the
         terms of the Subscription Agreement, by and between the Company and the
         holder of this Warrant,  the Company has agreed to file a  registration
         statement  (the  "Registration  Statement"),  to register,  among other
         things, the Warrant Shares issuable upon exercise of this Warrant. This

                                       10
897438.7

<PAGE>

         Warrant  shall expire if not  exercised on or before the earlier of (i)
         the  three-year   anniversary   date  of  the   effectiveness   of  the
         Registration  Statement,  or (ii)  December __, 2009. In the event that
         the Company  does not have a  Registration  Statement  registering  the
         Warrant Shares effective  within 90 days after the date hereof:  (i) if
         the Registration  Statement covering the Warrant Shares is not declared
         effective  within 90 days,  but prior to 180 days,  following  the date
         hereof,  the exercise price of the Warrants shall be reduced by US$0.25
         per month,  or a pro rated amount thereof for partial  months,  until a
         Registration  Statement covering such shares is so declared  effective;
         (ii) if a  Registration  Statement  covering the Warrant  Shares is not
         declared  effective  within 190 days  following  the date  hereof,  the
         exercise  price of the Warrants  shall be reduced by US$0.50 per month,
         or a pro rated amount thereof for partial months,  until a Registration
         Statement  covering  such  Warrant  Shares  is so  declared  effective.
         Notwithstanding  anything herein to the contrary, in no event shall the
         Exercise Price of the Warrants be reduced to a price lower than US$3.75
         per share.

         l. Venue.  The terms of this Agreement shall be construed in accordance
         with the laws of the  State  of New  York.  The  exclusive  venue  with
         respect to any claims or  disputes  under this  Agreement  shall be the
         appropriate State or Federal Courts located in New York, New York.

                            [Signature page follows]

                                       11
897438.7

<PAGE>

         IN WITNESS  WHEREOF,  the Company has caused this  Warrant to be signed
and  attested by the  Undersigned,  each being duly  authorized,  as of the date
below.

                                            JAWS TECHNOLOGIES, INC.

                                         By: __________________________________
                                        Its: __________________________________
Dated:
ATTEST:

_____________________________
__________________, Secretary

                                       12

<PAGE>

                                  EXERCISE FORM

         The  undersigned  hereby  irrevocably  elects to  exercise  the  within
Warrant to the extent of purchasing Shares of Common Stock of Jaws Technologies,
Inc. at $______ per share (an aggregate of $______).

                     INSTRUCTIONS FOR REGISTRATION OF STOCK

Name: ____________________________________________
      (Please typewrite or print in block letters)

Address ____________________________________________________

Social Security of Federal I.D. Number: __________________________

THE  UNDERSIGNED  REPRESENTS  AND WARRANTS TO JAWS  TECHNOLOGIES,  INC. THAT THE
CONDITIONS FOR EXERCISE OF THE WITHIN WARRANT SET FORTH IN THE FIRST SENTENCE OF
THE FIRST PARAGRAPH ABOVE HAVE BEEN FULLY COMPLIED WITH.

Payment of $__________ enclosed

Signature _____________________________________________
      (Sign exactly as your name appears on the first page of this Warrant)

                                       13

<PAGE>

                                 ASSIGNMENT FORM

FOR VALUE RECEIVED, __________________________________________hereby sells,
assigns and transfers unto

Name _______________________________                  _______________________
    (Please typewrite or print in block letters)      Address

Social Security of Federal I.D. Number: _________________________

the  right  to  purchase  shares  of  Common  Stock of Jaws  Technologies,  Inc.
represented  by this  Warrant  as to which such  right is  exercisable  and does
hereby   irrevocably   constitute  and  appoint  _______________________________
Attorney, to transfer the same on the books of Jaws Technologies, Inc. with full
power of substitution in the premises.

Date:

Signature ________________________________________
      (Sign exactly as your name appears on the first page of this Warrant)

                                       14

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