Document:

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                                                                    Exhibit 10.8

                           AIRCRAFT SECURITY AGREEMENT

Date: March 10,1998                                             $350,000.00 CDN

      FOR VALUABLE CONSIDERATION, 761395 ALBERTA LTD., ("Debtor"), an Alberta
Corporation, with its chief executive office at 1400-350 7th Avenue South West,
Calgary Alberta, T2P 3N9, and BRONSON CONRAD, ("Co-Debtor"), residing at 1755
Birchwood Dr., Mississauga, Ontario, L5J 1TS hereby grants, assigns, transfers,
mortgages and charges to TEXTRON FINANCIAL CORPORATION (CANADA), an Ontario
corporation ("Secured Party"), with its chief executive office at One University
Avenue, Suite 500, Toronto, Ontario, M5J 2P1, a continuing security interest in
all of its rights, title and interest, whether now owned or hereafter acquired,
in the aircraft as described on Schedule A hereto, and all parts, engines,
equipment, interior furnishings and accessories thereto including all
substitutions and replacements thereof (together, the "Aircraft"), and the
proceeds thereof, in whatever form, of any sale, lease or disposition thereof or
that indemnifies or compensates for any or all of such equipment that is
destroyed, damaged, stolen or lost (together with the Aircraft, the
"Collateral"), to secure payment and performance of all of Debtors liabilities,
indebtedness and obligations, actual or contingent, now or hereafter owing,
arising, due or payable from Debtor to Secured Party, whether incurred prior to,
at the time of or subsequent to the execution hereof, including but not limited
to, the Promissory Note between Debtor and Secured Party, dated the date hereof
(the "Note") and the Commitment Letter, dated January 23, 1998, (together the
"Loan Agreement") between Debtor and Secured Party, (together, the
"Obligations") (the Note and Loan Agreement shall be collectively referred to
herein as the "Security").

      1.    Debtor's Representations, Warranties and Covenants

1.01 Authority. The execution, delivery and performance of this Agreement and
any instrument or other agreement or writing relating to this Agreement have
been duly and validly authorized by Debtor and do not and will not conflict with
any provision of any agreement, instrument or writing to which Debtor is a party
or by which Debtor is bound, and Debtor has full power and authority to enter
into this Agreement and all other instruments or other writings contemplated
hereby and to consummate the transactions contemplated hereby.

1.02 Financial Information. All financial statements, net worth statements and
other written information heretofore or hereafter delivered or furnished
directly or indirectly by Debtor or Co-Debtor to Secured Party are and will be
true and correct as of the date furnished and, as to any such financial
statements, do and will fairly present the financial condition and results of
Debtor's operations at the times and for the periods stated in such financial
statements.

1.03 Ownership and Absence of Liens. Debtor is, or with respect to Collateral
acquired after the date hereof shall be, the beneficial owner of the Collateral
and there are no liens, security interests, chattel mortgages, tax liens or
other encumbrances of any kind on the Collateral other than the security
interest created hereby and general security interests created in favour of
Debtor's banker which have been subordinated to the security interests created
hereby, and Debtor shall not create or permit any such liens, securities
interests, chattel mortgages, tax liens or other encumbrances of any kind on the
Collateral to exist hereafter.
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                                      -2-

1.04 Place of Business; Use of Collateral. Debtors place of business is located
at 1400-350 7th Avenue South West, Calgary, Alberta, T2P 3N9, and Debtor shall
not change address without providing Secured Party with at least 45 days' prior
written notice. Debtor shall not allow the Collateral to be removed from or
flown outside Canada, the continental United States or the Caribbean without the
prior written consent of Secured Party, and then only on the terms and
conditions contained in such consent, which consent shall not be unreasonably
withheld.

1.05 Sale or Lease; Registration. Debtor shall not sell, pledge, give away or
otherwise dispose of, alienate or encumber its title to the Collateral without
Secured Party's prior written consent. In addition, Debtor shall not lease the
Collateral to any party. Debtor shall at all times maintain registration of the
Aircraft in its name with Transport Canada Aviation ("TCA"), which registration
shall appropriately reflect (if possible) Secured Party's interest in the
Aircraft.

1.06 Books and Records. Debtor shall at all times keep accurate and complete
records and books of account with respect to all of Debtor's business and
financial activities, in accordance with sound accounting practices and
generally accepted accounting principles, such records and accounts to be
maintained at Debtor's business address set forth in section 1.04 (Place of
Business; Use of Collateral) and Debtor agrees that Secured Party may from time
to time, upon reasonable notice and during normal business hours, inspect and
make copies thereof, at Debtor's expense.

1.07 Continuing Information. Debtor shall furnish to Secured Party such
information relevant to the Collateral, Debtor's financial condition, and
Debtor's business as Secured Party may from time to time request.

1.08 Maintenance of Collateral. Debtor shall, at its own expense, maintain and
keep the Aircraft in an airworthy and good flying condition and all components
thereof and equipment installed thereon in good order and repair particularly in
accordance with the maintenance requirements of: (i) TCA; (ii) the manufacturer
of the Aircraft as approved by TCA; and (iii) the manufacturer of any component
or equipment installed on the Aircraft as approved by TCA, so as to ensure that
the Aircraft is in such operation condition as may be necessary to enable the
Certificate of Airworthiness for the Aircraft to be maintained as valid at all
times under all applicable laws. Debtor shall, within a reasonable time, at its
own cost and expense, replace in or on the Aircraft and its components and
equipment any and all such parts, equipment, appliances, instruments and
accessories which may be worn, used, lost, destroyed, confiscated, damaged or
otherwise rendered unfit for use so that each of such items shall always be in
good operating condition and shall have at least the original value and utility
of the property replaced. All inspections, repairs, modifications, installments
and overhaul work to be performed on the Aircraft shall be performed at Debtor's
expense by personnel duly licensed to perform such work and shall be in
accordance with the standards required by TCA. Debtor shall promptly notify
Secured Party of any scheduled or unscheduled overhaul or servicing of engines
or other major components of the Collateral which notice shall specify the
nature of the work to be done, the name and address of the shop providing such
services, and a reasonable estimate of the completion date of such work. Debtor
shall also comply with all TCA airworthiness directives and service bulletins,
on a terminating action basis.
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                                      -3-

1.09 Base Locations. The home airport and base at which the Aircraft will be
located is Toronto Island Airport, Toronto, Ontairo, which home airport location
will not be changed without the prior written consent of Secured Party and, in
particular, the Aircraft shall not be used in or over the territorial limits of
any country other than Canada, the continental United States and the Caribbean
without the prior written consent of Secured Party, which consent shall not be
unreasonably withheld.

1.10 Legal Purpose. Debtor shall not use or permit the Collateral to be used:
(i) contrary to any laws or regulations, including but not limited to those
relating to intoxicating liquors, narcotics, drugs or similar products; or (ii)
in any manner which invalidates or restricts the insurance coverage required to
be carried or maintained by this Agreement.

1.11 Insurance. Debtor shall have and maintain at all times with respect to the
Collateral aircraft liability insurance and all risk ground and flight insurance
covering all forms of loss or damage to the Collateral in such amounts,
containing such terms and in such form as is satisfactory in the sole reasonable
discretion of Secured Party and shall deliver to Secured Party evidence of such
insurance. All such policies of insurance shall provide that any proceeds
thereof shall be payable to Secured Party and Debtor as their interests may
appear. All such policies of insurance shall provide for not less than thirty
days' prior notice of cancellation or change in form to Secured Party. In the
event of Debtor's failure to secure and maintain insurance as herein provided,
Secured Party may, at its option, secure such insurance on behalf of Debtor and
Debtor hereby promises to pay to Secured Party on demand any amounts expended by
Secured Party in securing such insurance as part of the Obligations, payment of
which is secured by the Collateral pursuant to this Agreement. Debtor hereby
agrees that Secured Party may act as Debto's attorney-in-fact in making,
adjusting and settling claims under any such insurance policies covering the
Collateral. Debtor shall provide a certificate from its insurance brokers to
Secured Party as evidence of such insurance prior to Secured Party making any
advances to Debtor in respect of the Collateral.

1.12 Liens and Encumbrances. In its discretion, Secured Party may at any time
discharge taxes and other encumbrances levied or placed on the Collateral, make
repairs thereto and pay any necessary filing fees with respect to the Collateral
or its interest therein. Debtor agrees to reimburse Secured Party on demand for
any and all expenditures so made, and until paid, the amount thereof shall be
deemed to be part of the Obligations, payment of which is secured by the
Collateral pursuant to this Agreement. Secured Party shall have no obligation to
Debtor to make any such expenditures nor shall the making thereof cure any
default by Debtor under this Agreement or any agreement or instrument,
performance of the terms of which is secured hereby.

1.13 Execution and Filing. Debtor shall perform, make, execute and deliver all
such additional and further acts, things, deeds, assurances and instruments as
Secured Party may request to more completely vest in and assure to Secured Party
its rights hereunder or in the Collateral including, without limitation,
execution and delivery of any documents or instruments which Secured Party
deems appropriate to perfect and continue the security interest hereby
granted, in the Province of Ontario or any other province of Canada or other
country in which Secured Party determines such action to be advisable. Debtor
hereby irrevocably authorizes Secured Party, or its designee, at Debtor's
expense, to file such documents or instruments with
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respect thereto, with or without Debtor's signature, as Secured Party may deem
appropriate,and appoints Secured Party as Debtor's attorney-in-fact to execute
such documents and instruments and to do each and every other act or thing which
Secured Party is authorized to do or perform on behalf of Debtor by this
Agreement.

1.14 Inspection. Secured Party shall have the right to inspect the Collateral or
any specific part thereof at its discretion provided that any such inspection
shall not unreasonably interfere with the use of the Collateral by Debtor.
Debtor agrees to facilitate such inspections upon request by Secured Party.

1.15 ConsolidatIon, Merger, Sale of Assets, Etc. Neither Borrower nor Co-
Borrower shall consolidate with, or merge into, any other corporation or convey,
sell, transfer or lease substantially all of its assets as an entirety to any
Person without the prior written consent of Lender, which shall not be
withheld without reason.

2.    Default

2.01 Events of Default. Each of the following events, if not consented to in
writing by Secured Party, shall constitute an "Event of Default" and material
breach of this Agreement (whether any such event shall be voluntary or
involuntary or come about or be effected by operation of Applicable Law) and
each such Event of Default shall be deemed to exist and continue so long as, but
only as long as, it shall not have been remedied:

            (i)   Payments: Debtor shall fail to make a payment when due of any
                  principal amount under the Note or shall fail to pay any
                  interest when due, or shall fail to make a payment when due of
                  any increased costs pursuant to this Agreement or other
                  Obligations; or

            (ii)  Insurance: Debtor shall fail to carry and maintain insurance
                  on or with respect to the Airframe and/or the engines in
                  accordance with the provisions of Section 1.11 (Insurance); or

            (iii) Liens: Debtor shall create, incur or assume or permit to exist
                  any lien other than liens permitted pursuant to Section 1.03
                  (Ownership and Absence of Liens) on or with respect to any
                  part of or all of the Collateral; or

            (iv)  License; Registration: Debtor shall fail to maintain the
                  registration of the Aircraft under the Aeronautics Act (the
                  "Act") or shall fail to keep the Aircraft in possession of and
                  entitled to a valid TCA Certificate of Airworthiness; or

            (v)   Disposition of Aircraft: Debtor shall sell, assign, lease or
                  otherwise dispose of or relinquish possession of the Aircraft;
                  or
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            (vi)  Failure to Perform: Debtor shall fail to perform or observe
                  any material covenant or agreement other than those contained
                  in Sections 2.01 (i) to (v) above to be performed or observed
                  by it hereunder or under the Security and such failure shall
                  continue unremedied for a period of 30 days after notice of
                  such failure has been given; or

            (vii) Misrepresentation: any representation or warranty made by
                  Debtor or Co-Debtor or in any document or certificate
                  furnished by Debtor to Secured Party in connection with this
                  Agreement or the Security shall at any time prove to have been
                  incorrect in any material respect when made; or

            (viii) Obligations to Secured Party: Debtor, or any company of which
                  it has voting control, shall default in the payment of any
                  indebtedness for borrowed money (other than the Obligations)
                  or any obligation payable in respect of any lease or mortgage
                  owing by such party to Secured Party, or any interest or
                  premium thereon, when such indebtedness or such obligation
                  shall become due (or, if permitted by the terms of the
                  relevant document, within any applicable grace period),
                  whether such indebtedness or such obligation shall become due
                  by scheduled maturity, by required prepayment, by
                  acceleration, by demand, or otherwise; or

            (ix)  Obligations to Third Parties: Debtor shall default in the
                  payment of any indebtedness for borrowed money or any
                  obligation payable in respect of any lease or mortgage owing
                  by such party to any person (other than Secured Party), or any
                  interest or premium thereon, when such indebtedness or such
                  obligation shall become due (or, if permitted by the terms of
                  the relevant document, within any applicable grace period),
                  whether such indebtedness or such obligation shall become due
                  by scheduled maturity, by required prepayment, by
                  acceleration, by demand, or otherwise, and the amount of the
                  payment then in default shall be in excess of $100,000 and
                  such default shall continue unremedied for 30 days; or Debtor
                  shall fail to perform any term, covenant or agreement on its
                  part to be performed under any agreement or instrument (other
                  than this Agreement or the Security) evidencing or securing or
                  relating to any indebtedness for borrowed money or any
                  obligation payable in respect of any lease or mortgage owing
                  by such party when required to be performed, if as the result
                  thereof and of any such prior failure the maturity of any such
                  indebtedness or any payment of such obligation is accelerated
                  or any such lease is terminated or canceled, with the
                  aggregate for all such indebtedness or obligations being in
                  excess of $100,000 and such default shall continue unremedied
                  for 30 days; or

            (x)   Invalidity: this Agreement or the Security shall at any time
                  for any reason cease to be in full force and effect or shall
                  be declared to be null and void; or
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                                       -6-

            (xi)  Suspension of Business: if Debtor shall Voluntarily suspend
                  all or substantially all of its business operations other
                  than: (i) suspensions of a temporary nature resulting from a
                  strike or similar event not within the control of Debtor or
                  Co-Debtor or from a lock-out; or (ii) for the purposes of a
                  reorganization or amalgamation, the terms of which have been
                  previously approved in writing by Secured Party to the extent
                  required hereunder; or

            (xii) Voluntary Insolvency Proceedings: if Debtor or Co-Debtor files
                  a petition or answer or consent seeking reorganization,
                  readjustment, arrangement, composition or similar relief Under
                  any applicable law or consents to the filing of any such
                  petition or to the appointment of a receiver, liquidator,
                  trustee or similar officer of itself or any part of its
                  property or makes an assignment for the benefit of creditors
                  or is unable, or admits in writing its inability, to pay its
                  debts as they become due or otherwise acknowledges its
                  insolvency or is deemed for the purposes of any applicable law
                  to be insolvent or voluntarily suspends the transaction of its
                  usual business or any action is taken by it in furtherance of
                  any of the foregoing purposes; or

            (xiii) Involuntary Insolvency Proceedings: if any application is
                  made with respect to Debtor or Co-Debtor under the Companies'
                  Creditors Arrangement Act (Canada), the Bankruptcy and
                  Insolvency Act (Canada), or similar legislation seeking
                  reorganization, readjustment, arrangement, composition or
                  similar relief for Debtor or Guarantor under any Applicable
                  Law, or if a proceeding is instituted for the winding up,
                  liquidation or dissolution of Debtor or Guarantor or seeking
                  an order adjudging Debtor or Guarantor insolvent or the
                  appointment of any receiver, liquidator, trustee or similar
                  officer of Debtor or Guarantor or over all or any part of
                  their property or a petition in bankruptcy is presented
                  against Debtor or Guarantor under any bankruptcy or similar
                  statute.

2.02 Prepayment. If an Event of Default described in Sections 2.01 (xii) or
(xiii) shall occur and be continuing, then the Termination Value shall be
immediately due, without presentment, demand, protest or other notice of any
kind (all of which Debtor hereby waives). "Termination Value" means the
aggregate of: (a) the present-value of the remaining payments and any residual
value of the Collateral, discounted at a rate equal to the lesser of: (i) the
Government of Canada bond rate for a term most closely matching the remaining
term, less 2%; or (ii) 3%; plus (b) all legal fees, disbursements, costs and
expenses incurred by the Secured Party in connection with the enforcement of the
Security and the Note.

2.03 Prepayment at Secured Party's Option. If any Event of Default, other than
one described in Sections 2.01 (xii) or (xiii), shall occur and be continuing,
then Secured Party may declare the Termination Value to be due. Upon such
declaration in writing to Debtor, the entire Termination Value shall be due,
without presentment, demand, protest or other notice of any kind (all of which
Debtor hereby waives).
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Section 3. Remedies

3.01 Obtaining the Collateral Upon Default. Debtor agrees that, if any Event of
Default shall have occurred and be continuing, then and in every such case,
subject to any mandatory requirements, including applicable notice periods, of
applicable law, Secured Party, in addition to any rights now or hereafter
existing under Applicable law, shall have all rights as a secured creditor under
the PPSA to the extent that such are applicable and, in its sole discretion, may
then elect to exercise the following rights, remedies and powers:

      (i)   exercise all the rights and remedies upon default, in foreclosure
            and otherwise, available to mortgages or secured parties under the
            provisions of applicable law;

      (ii)  institute legal proceedings to foreclose upon and against the lien
            and security interest granted by this Agreement, to recover judgment
            for all Obligations then due and owing and secured hereby, and to
            collect same out of any of or all of the Collateral or the
            proceeds of any sale thereof;

      (iii) without regard to the adequacy of the security for the Obligations
            by virtue of this Agreement or any other Collateral or to the
            solvency of Debtor, institute legal proceedings for the appointment
            of a receiver or receivers with respect to any or all of the
            Collateral pending foreclosure hereunder or for the sale of any or
            all of the Collateral under the order of a court of competent
            jurisdiction or under other legal process;

       (iv)  personally, or by agents or attorneys, immediately take possession
             of the Collateral or any part thereof, from Debtor or any other
             person who then has possession of any part thereof with or without
             notice or process of law, and for that purpose may peaceably enter
             upon Debtors or Guarantor's premises where all or any part of the
             Collateral is located and remove same and use in connection with
             such removal all services, supplies, aids and other facilities of
             Debtor or that Secured Party, in its opinion, considers necessary;

       (v)   instruct the obligor or obligors on any agreement, instrument or
             other obligation relating to the Collateral to make any payment
             required by the terms of such instrument or agreement directly to
             Secured Party;

       (vi)  sell, assign or otherwise liquidate, or direct Debtor to sell,
             assign or otherwise liquidate, the Collateral or any part thereof,
             and take possession of the proceeds of any such sale or
             liquidation;

       (iv)  take possession of the Collateral or any part thereof, by directing
             Debtor in writing to deliver same to the Secured Party at any place
             or places designated by Secured Party, in which event Debtor shall,
             at its own expense comply therewith, including, in the case of
             Aircraft:

       (1)   forthwith fly or cause to be flown all or any part of the Aircraft
             to such airport or airports in Ontario so designated by Secured
             Party and there deliver the Aircraft to Secured Party;
<PAGE>

                                       -8-

       (2)   store and keep all or any part of the Aircraft so delivered to
             Secured Party at such place or places pending further action by the
             Secured Party as provided in Section 3.02 (Disposition of
             Collateral); and

       (3)   while all or any part of the Aircraft shall be so stored and kept,
             provide such security and maintenance services as shall be
             necessary to protect same and to preserve and maintain them in the
             condition required by this Agreement.

3.02 Disposition of Collateral. The Collateral, or any part thereof repossessed
by Secured Party pursuant to Section 3.01 (Obtaining the Collateral Upon
Default), whether or not physically so repossessed by Secured Party, may be
sold, assigned, leased or otherwise disposed of under one or more contracts or
as an entirety, and without the necessity of gathering at the place of sale the
property to be sold, and in general in such manner, at such time or times, at
such place or places and on such terms as Secured Party may, in compliance with
any mandatory requirements of applicable law, determine to be commercially
reasonable. The Collateral or any part thereof may be sold, leased or otherwise
disposed of, in the condition in which same existed when taken by Secured Party
or after any overhaul or repair which Secured Party shall determine to be
commercially reasonable.

3.03 Assignment of Insurance. Debtor hereby assigns to Secured Party all of the
rights of Debtor under the insurance policies maintained pursuant to Section
1.11 (Insurance), such assignment to be effective without further act of Debtor
upon the occurrence of an Event of Default; provided, however, that such
assignment shall not subject Secured Party to any liability for premiums or
otherwise, and Debtor hereby agrees to fully indemnify Secured Party for any
cost or liabilities arising pursuant to the exercise of the assignment made
under this Section 3.03.

3.04 Waiver of Claims. Any sale of, or the grant of options to purchase, or any
other realization upon, the Collateral or any part thereof, all in accordance
with the provisions hereof, shall operate to divest all right, title, interest,
claim and demand, either at law or in equity, of Debtor therein and thereto, and
shall be a perpetual bar both at law and in equity against Debtor and against
any and all persons claiming or attempting to claim the Collateral so sold,
optioned or realized upon, or any part thereof, from, through and under Debtor.

3.05 Preservation of Collateral. Secured Party may enter into and upon and take
possession of all or any part of the Collateral, with full power to borrow money
or advance its own money for the maintenance and preservation of the Collateral
or any part thereof, the payment of taxes, wages and other charges ranking in
priority to the Obligations and operating expenses incurred (and the money so
borrowed or advanced shall be repaid by Debtor on demand and until repaid shall,
with interest, form a charge upon the Collateral in priority of the Obligations
and shall be secured hereby) and to receive the revenues, incomes, issues and
profits of the Collateral and to pay therefrom all its expenses, charges and
advances in preserving the Collateral or otherwise, and all taxes, assessments
and other charges against the Collateral ranking in priority to the Obligations,
or payment of which may be necessary to preserve the Collateral, and to apply
the remainder of the moneys so received in accordance with the provisions
hereof.
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                                       -9-

3.06 Remedies Not Prejudiced by Delay. No delay or omission of Secured Party to
exercise any remedy shall impair any such remedy or shall be construed to be a
waiver of any Event of Default hereunder or acquiescence therein.

3.07 Remedies Cumulative; Fees and Expenses. Each and every right, power and
remedy hereby specifically given to Secured Party shall be in addition to every
other right, power and remedy specifically given under this Agreement or the
Security or now or hereafter existing at Applicable law and each and every
right, power and remedy whether specifically given herein or otherwise existing
may by exercised form time to time or simultaneously and as often and in such
order as may be deemed expedient by Secured Party. All such rights, powers and
remedies shall be cumulative and the exercise or the beginning of exercise of
one shall not be deemed a waiver of the right to exercise of any other or
others; provided, however, that nothing in this Agreement or the Security shall
be construed to allow Secured Party a double recovery. In the event that Secured
Party shall bring any suit to enforce any of its rights hereunder and shall be
entitled to judgment, then in such suit Secured Party may recover (without
duplication) reasonable expenses, including reasonable legal fees, and the
amounts thereof shall be included in such judgment.

3.08 Discontinuance of Proceedings. In case Secured Party shall have instituted
any proceeding to enforce any right, power or remedy under this Agreement by
foreclosure, sale, entry or otherwise, and such proceeding shall have been
discontinued or abandoned for any reason or shall have been determined adversely
to Secured Party, then and in every such case Debtor and Secured Party shall be
restored to their former positions and rights hereunder with respect to the
Collateral subject to the Security Interest created under this Agreement, and
all rights, remedies and powers of Secured Party shall continue as if no such
proceeding had been instituted.

3.09 Debtor to Yield Possession. Debtor shall yield up possession of the
Collateral to Secured Party upon demand whenever Secured Party shall have a
right of entry under the provisions hereof and agrees to put no obstacles in the
way of but to facilitate by all legal means the actions of Secured Party
hereunder, and not to interfere with the carrying out of the powers hereby
granted to it, and Debtor shall forthwith, execute such documents and transfers
as may be necessary to place Secured Party in legal possession of the Collateral
and thereupon all of its powers and functions, rights and privileges shall cease
with respect to the Collateral, unless specifically continued in writing by
Secured Party or unless the property shall have been restored to Debtor.

3.10 Indulgences. Secured Party may grant renewals, extensions of time and other
indulgences, take and give up securities, accept settlements, grant full,
partial and conditional releases and discharges, perfect or fail to perfect any
securities, release any Collateral to third parties and otherwise deal or fail
to deal with Debtor, debtors of Debtor, guarantors, sureties and others and with
the Collateral and other securities as Secured Party may see fit, all without
prejudice to any liability of Debtor to Secured Party or Secured Party's rights
and remedies under this Agreement or applicable law.

3.11 Secured Party's Agent. Secured Party may appoint any agent or
representative, including a receiver or receiver and manager, to exercise any of
its rights hereunder.
<PAGE>

                                     -11-

4.02 Whenever possible each provision of this Agreement shall be interpreted in
such a manner as to be effective and valid under applicable law, but if any
provision of this Agreement shall be prohibited by or invalid under any
applicable law, such provision shall be ineffective to the extent of such
prohibition or invalidity but the remainder of such provision or the remaining
provisions of this Agreement shall remain in full force and effect.

4.03 This Agreement may be executed in one or more counterparts, each of which
when so executed shall be and be deemed to be an original and such counterparts
together shall constitute one and the same instrument.

4.04 This Agreement is delivered in and shall be governed by and construed in
accordance with the laws of the Province of Ontario and the federal laws of
Canada applicable therein.

5.     Execution

       The parties hereto have duly executed this Agreement as of the date
written above.

                        )            Debtor: 761395 ALBERTA LTD.
                        )
                        )
                        )
 /s/ L. ALLAN MCCAFFREY )            /S/ [Illegible]
------------------------             --------------------------------
Witness                              761395 ALBERTA LTD.
Name (Print):
L. ALLAN MCCAFFREY
                                     Co-Debtor: BRONSON CONRAD

                                     /s/BRONSON CONRAD
                                     -----------------
                                     BRONSON CONRAD

                                     Secured Party:
                                     TEXTRON FINANCIAL CORPORATION
                                     (CANADA)

                                     By:/s/JUDY SMILEY
                                        -----------------------------
                                     Name: JUDY SMILEY
                                     Title: AVP Funding

                                     By:
                                        -----------------------------
                                     Name:
                                     Title:

<PAGE>

                                   SCHEDULE A

                             AIRCRAFT SPECIFICATIONS

AIRFRAME MAKE AND MODEL:              1977 Fairchild Merlin

MANUFACTURER'S SERIAL NUMBER:         T-274
NATIONALITY AND REGISTRATION MARKS:   C-FAMF

ENGINE MAKE AND MODEL:          Garrett TPE 331 34-304G

ENGINE SERIAL NUMBERS:          NO. 1: P03200
                                NO. 2: P03272

PROPELLER MAKE AND MODEL:       Hartzell HC B3TN-SG
PROPELLER SERIAL NUMBERS:       NO. 1:  BVA 6131
                                NO. 2:  BVA 6132

APU MAKE AND MODEL:
APU SERIAL NUMBER:

INTERIOR CONFIGURATION:         9 Seat Passenger

AVIONICS SYSTEMS:            COLLINS

Secured Party:                        Debtor: 761395 Alberta Ltd.
TEXTRON FINANCIAL CORPORATION
(CANADA)

By: /s/JUDY SMILEY                     By: /s/BRONSON CONRAD
   --------------------------            -----------------------
Name:  JUDY SMILEY                    Name:
Title: AVP Funding                    Title:

                                      Co-Debtor: Bronson Conrad
By:
   --------------------------         By: /s/BRONSON CONRAD
Name:                                    -----------------------
Title:                                Name:
                                      Title:

<PAGE>

                                      -11-

4.02 Whenever possible each provision of this Agreement shall be interpreted in
such a manner as to be effective and valid under applicable law, but if any
provision of this Agreement shall be prohibited by or invalid under any
applicable law, such provision shall be ineffective to the extent of such
prohibition or invalidity but the remainder of such provision or the remaining
provisions of this Agreement shall remain in full force and effect.

4.03 This Agreement may be executed in one or more counterparts, each of which
when so executed shall be and be deemed to be an original and such counterparts
together shall constitute one and the same instrument.

4.04 This Agreement is delivered in and shall be governed by and construed in
accordance with the laws of the Province of Ontario and the federal laws of
Canada applicable therein.

5.    Execution

      The parties hereto have duly executed this Agreement as of the date
written above.

                        )            Debtor: 761395 ALBERTA LTD.
                        )
                        )
                        )
 /s/ PETER GIDDENS      )            /s/ BRONSON CONRAD
------------------------             --------------------------------
Witness                              761395 ALBERTA LTD.
Name (Print):
PETER GIDDENS
                                     Co-Debtor: BRONSON CONRAD

                                     /s/BRONSON CONRAD
                                     --------------------------------
                                     BRONSON CONRAD

                                     Secured Party:
                                     TEXTRON FINANCIAL CORPORATION
                                     (CANADA)

                                     By:
                                        -----------------------------
                                     Name:
                                     Title:

                                     By:
                                        -----------------------------
                                     Name:
                                     Title:
<PAGE>

                                   SCHEDULE A

                             AIRCRAFT SPECIFICATIONS

AIRFRAME MAKE AND MODEL:              1977 Fairchild Merlin

MANUFACTURER'S SERIAL NUMBER:         T-274
NATIONALITY AND REGISTRATION MARKS:   C-FAMF

ENGINE MAKE AND MODEL:          Garrett TPE 331-34-304G

ENGINE SERIAL NUMBERS:          NO. 1: P03200
                                NO. 2: P03272

PROPELLER MAKE AND MODEL:       Hartzell HCB3TN-SG
PROPELLER SERIAL NUMBERS:       NO. 1: BVA 6131
                                NO. 2: BVA 6132

APU MAKE AND MODEL:
APU SERIAL NUMBER:

INTERIOR CONFIGURATION:         9 Seat Passenger

AVIONICS SYSTEMS:            COLLINS

Secured Party:                        Debtor: 761395 Alberta Ltd.
TEXTRON FINANCIAL CORPORATION
(CANADA)

By:                                   By: /s/BRONSON CONRAD
   --------------------------            -----------------------
Name:                                 Name:  BRONSON B CONRAD
Title:                                Title: PRESIDENT

                                      Co-Debtor: Bronson Conrad
By:
   --------------------------
Name:                                 By: /s/BRONSON B CONRAD
Title:                                   -----------------------
                                      Name:  BRONSON B CONRAD
                                      Title:<PAGE>

                                                                    Exhibit 10.9

                            STOCK EXCHANGE AGREEMENT

THIS AGREEMENT, dated as of the 27th day of February, 1998, by and among:

                     WORLDWIDE DATA INC., a corporation incorporated pursuant to
                     the laws of the State of Delaware,

                     (the "Purchaser")

                                                               OF THE FIRST PART

                      - and -

                      BRIDGEWATER CAPITAL CORP., a corporation incorporated
                      pursuant to the laws of the Bahamas,

                      ("Bridgewater")

                                                              OF THE SECOND PART

                      - and -

                      BRONSON CONRAD, a resident of Mississauga, Ontario,

                      ("Conrad")

                                                               OF THE THIRD PART

      WHEREAS Bridgewater and Conrad (collectively, the "Sellers") are the sole
owners and shareholders of record of 1,500,000 out of 1,764,706 shares of
capital stock (the "Sellers' Shares") of Worldwide Online Corp. ("Worldwide") a
company incorporated pursuant to the laws of the Province of Ontario;

      AND WHEREAS the Sellers hold the Sellers' Shares in the following amounts
and proportions:

               Seller                                     No. of Shares
               ------                                     -------------

            Bridgewater                                     1,499,999
            Conrad                                                  1
                                                            ---------

Total Sellers' Shares                                       1,500,000
                                                            ---------

      AND WHEREAS the Purchaser is the sole owner and shareholder of record of
264,706 out of 1,764,706 shares of capital stock of Worldwide (the "Purchaser's
Shares");

      AND WHEREAS the Sellers' Shares and the Purchaser's Shares represent all
of the issued and outstanding shares of the capital stock of Worldwide;
<PAGE>

                                     - 2 -

      AND WHEREAS the Purchaser will deliver to the Sellers 1,500,000 common
shares of the Purchaser (the "Worldwide Data Shares"), in exchange for the
Sellers' Shares, all in the proportions and upon the terms and conditions set
out herein;

      AND WHEREAS the Sellers and the Purchaser are willing to make
representations, warranties and covenants and to provide the consideration
described in this Agreement;

      NOW THEREFORE, in consideration of the premises and of the
representations, warranties and covenants herein contained and intending to be
legally bound hereby, the parties hereto agree as follows:

                                   ARTICLE I

                                 Interpretation

1.01 Definitions

            In this Agreement, including the schedules hereto:

      (a)   "Agreement", "herein", "hereto", "hereof" and similar expressions
            means this agreement and includes any agreement amending this
            agreement or any agreement or instrument which is supplemental or
            ancillary hereto;

      (b)   "Bridgewater" has the meaning ascribed thereto in the preamble
            hereto;

      (c)   "Business Day" means a day other than a Saturday, Sunday or
            statutory or civic holiday in the City of Toronto, Ontario, Canada;

      (d)   "Closing" means the purchase by the Purchaser and the sale by the
            Sellers of the Sellers' Shares and the issuance of the Worldwide
            Data Shares to the Sellers (all as more particularly provided in
            this Agreement) in exchange therefor,

      (e)   "Closing Date" means: (i) the date hereof; or (ii) such other date
            as Sellers and Purchaser may mutually agree in writing; provided
            that if the Closing Date has not occurred on or before May 31, 1998,
            for any reason other than the default or failure to perform
            hereunder by the Purchaser or by any of the Sellers, this Agreement
            shall be null and void and at an end and the obligations of the
            parties hereto shall be at an end, save in respect of any default or
            failure to perform hereunder by any of such parties;

      (f)   "Conrad" has the meaning ascribed thereto in the preamble hereto;

      (g)   "Counsel" means any barrister, solicitor or attorney or firm thereof
            retained by the Purchaser or any of the Sellers as the case may be;

      (h)   "Purchaser" has the meaning ascribed thereto in the preamble hereto;

      (i)   "Purchaser's Shares" has the meaning ascribed thereto in the
            recitals hereto;

      (j)   "Sellers" means collectively, Bridgewater and Conrad,

      (k)   "Sellers' Shares" has the meaning ascribed thereto in the recitals
            hereto;
<PAGE>

                                     - 3 -

      (l)   "Share Exchange" means the exchange of the Sellers' Shares by the
            Sellers for the Worldwide Data Shares, in accordance with this
            Agreement;

      (m)   "Time of Closing" means 10:00 a.m. on the Closing Date;

      (n)   "Worldwide" has the meaning ascribed thereto in the recitals hereto;

      (o)   "Worldwide Data Shares" has the meaning ascribed thereto in the
            recitals hereto.

1.02 Time

            Time shall be of the essence hereof.

1.03  Governing Law

            This Agreement shall in all respects be subject to and interpreted
and construed in accordance with the laws of the Province of Ontario, Canada and
shall be treated in all respects as a contract performed in its entirety in the
Province of Ontario.

1.04 Clause References

            The division of this Agreement into Articles, sections, subsections,
clauses, subclauses, and paragraphs and the provision of headings for all or any
thereof is for convenience of reference only and shall not affect the
interpretation of this Agreement.

1.05 Expanded Meanings

            In this Agreement, unless there is something in the subject matter
or context inconsistent therewith: (a) words importing the singular shall
include the plural and vice versa; (b) words importing gender shall include the
masculine, feminine and neuter genders; and (c) references to any statute shall
extend to and include any orders-in-council or regulations passed under and
pursuant thereto, or any amendment or re-enactment of such state,
orders-in-council or regulations, or any statute, orders-in-council or
regulations substantially in replacement thereof.

1.06 Currency and Payment

            All references to currency are to lawful money of Canada, unless
otherwise expressly indicated herein.

1.07 Amendment

            No amendment or modification of this Agreement shall be binding
unless in writing and signed by the parties intended to be bound thereby.

1.08 Entire Agreement

            This Agreement constitutes the entire agreement between the parties
relating to the Share Exchange and supersedes and replaces all prior agreements,
understandings, negotiations and discussions, whether oral or written.
<PAGE>

                                     - 4 -

1.09 Invalidity of Provisions

            If any of the provisions of this Agreement should be invalid,
illegal or unenforceable in any respect, the validity or legality or
enforceability of the remaining provisions contained herein shall not in any way
be affected or impaired thereby.

1.10 Schedules

            The Schedules referred to in this Agreement are incorporated herein
by reference and form a part hereof.

                                   ARTICLE II

                                 Share Exchange

2.01 Subject to the terms and conditions of this Agreement and in consideration
of the agreements herein contained and for other good and valuable
consideration, the Sellers individually and collectively agree to transfer and
deliver to the Purchaser, at the Closing (to be conducted on the Closing Date at
the Time of Closing at the offices of Counsel to the Purchaser in Toronto,
Ontario, Canada), and Purchaser agrees to acquire and accept from Sellers at the
Closing, the Sellers' Shares, free and clear of any security interests, pledges,
mortgages, liens or encumbrances. At the Closing, Sellers shall deliver to
Purchaser properly endorsed certificates representing the Sellers' Shares.

2.02 In exchange for the Sellers' Shares, Purchaser shall issue and deliver to
Sellers, at the Closing, the Worldwide Data Shares, to be represented by
certificates registered in the names of the Sellers as set out in Section 2.03
below.

2.03 The Sellers represent, warrant and acknowledge that they own the Seller's
Shares in the proportions and amounts set out in the recitals hereto and agree
that the Worldwide Data Shares to be issued and delivered to the Sellers
pursuant to this Agreement, shall be issued and delivered as set out below:

               Seller                                     No. of Shares
               ------                                     -------------

            Bridgewater                                     1,499,999
            Conrad                                                  1
                                                            ---------

Total Worldwide Data Shares                                 1,500,000
                                                            ---------

2.04 The Sellers individually and collectively acknowledge and agree that the
Purchaser is not a reporting issuer that the Worldwide Data Shares will not be
qualified for sale to the public pursuant to the securities laws of the United
States or Canada; and that the Worldwide Data Shares will contain a legend
substantially in the following form: "The shares represented by this certificate
have not been registered under the Securities Act of 1933. The shares have been
acquired for investment and may not be sold, transferred or assigned in the
absence of an effective registration statement for the shares under the
Securities Act of 1933 or an opinion of the Company's counsel that registration
is not required under said Act".
<PAGE>

                                     - 5 -

                                  ARTICLE III

                          Sellers' Closing Conditions

3.01 The obligations of the Sellers to complete the Share Exchange is subject to
the fulfillment and performance on or prior to the Closing of the following
conditions precedent, all of which are for the exclusive benefit of Sellers and
which may be waived in whole or in part by Sellers:

      (a)   at the Time of Closing on the Closing Date, Purchaser shall deliver
            to Sellers certificates registered in the names of Sellers, in the
            proportions set out in Section 2.03 hereof, representing the
            Worldwide Data Shares (being 1,500,000 common shares of the
            Purchaser);

      (b)   any and all regulatory approvals, notifications or consents,
            compliance with regulatory requirements, and any and all third party
            consents or waivers required to complete the transactions herein
            contemplated, shall have been obtained on terms satisfactory to
            Sellers, acting reasonably, and satisfactory evidence of same shall
            have been delivered to Sellers for review and approval;

      (c)   the representations and warranties of Purchaser contained in this
            Agreement shall be true and correct in all respects at the Time of
            Closing, with the same force and effect as if such representations
            and warranties were made at and as of such time, and the delivery by
            the Purchaser to the Sellers on Closing of the Worldwide Data
            Shares, properly engrossed in the names of the Sellers as specified
            in Section 2.03 above, shall be deemed to constitute a certificate
            of the Purchaser addressed to each of the Sellers, effective as of
            the Time of Closing, that the representations and warranties of the
            Purchaser contained in this Agreement remain true and correct as of
            the Time of Closing;

      (d)   all of the terms, covenants and conditions of this Agreement to be
            complied with or performed by Purchaser at or before the Time of
            Closing shall have been complied with or performed in all respects,
            and the delivery by the Purchaser to the Sellers on Closing of the
            Worldwide Data Shares, properly engrossed in the names of the
            Sellers as specified in Section 2.03 above, shall be deemed to
            constitute a certificate of the Purchaser addressed to each of the
            Sellers, effective as of the Closing Date, that the terms, covenants
            and conditions of the Purchaser in this Agreement have been complied
            with or performed in all respects by the Purchaser at or before the
            Time of Closing;

      (e)   there shall have been no material adverse changes in the condition
            (financial or otherwise), of the assets, liabilities, operations,
            earnings, business or prospects of Purchaser since the date hereof;
            and

      (f)   no legal or regulatory action or proceeding shall be pending or
            threatened by any person to enjoin, restrict or prohibit the
            transactions contemplated by this agreement.

            If any of the conditions contained in this Article III shall not be
performed or fulfilled at or prior to the Time of Closing to the satisfaction of
Sellers, acting reasonably, Sellers may, by notice to Purchaser, terminate this
Agreement and the obligations of Purchaser and Sellers under this Agreement. Any
such condition may be waived in whole or in part by the Sellers without
prejudice to any claims they may have for breach of covenant, representation or
warranty. For the purposes of this Article III and the balance of this Agreement
generally, any certificate or
<PAGE>

                                     - 6 -

document to be approved by the Sellers and any consent to be provided by the
Sellers shall be deemed to be approved or provided if approved or provided by
those of the Sellers who own the majority of the Shares, and any waiver that may
be delivered by the Sellers, shall be deemed to be delivered, binding on all of
the Sellers, if delivered by those of the Sellers who own the majority of the
Shares.

                                   ARTICLE IV

                         Purchaser's Closing Conditions

4.01 The obligation of Purchaser to complete the Share Exchange is subject to
the fulfillment and performance on or prior to the Closing of the following
conditions precedent, all of which are for the exclusive benefit of Purchaser
and which may be waived in whole or in part by Purchaser:

      (a)   Sellers shall have tendered all, but not less than all, of the
            Sellers' Shares duly endorsed in blank for transfer or accompanied
            by duly executed transfer powers;

      (b)   the board of directors of Worldwide shall have approved the transfer
            of the Shares to Purchaser;

      (c)   any and all regulatory approvals or consents, and any and all third
            party consents or waivers required to complete the transactions
            herein contemplated, shall have been obtained on terms satisfactory
            to Purchaser and satisfactory evidence of same shall have been
            delivered to Purchaser for its review and approval;

      (d)   the representations and warranties of Sellers herein shall be true
            and accurate in all respects at the Time of Closing, with the same
            force and effect as if such representations were made at and as of
            such time, and the delivery by the Sellers to the Purchaser on
            Closing of the Sellers' Shares, properly endorsed over to the
            Purchaser, shall be deemed to constitute a certificate of each of
            the Sellers addressed to the Purchaser, effective as of the Time of
            Closing, that the representations and warranties of the Sellers
            contained in this Agreement remain true and correct as of the Time
            of Closing;

      (e)   all of the terms, covenants and conditions of this Agreement to be
            complied with or performed by Sellers at or before the Time of
            Closing shall have been complied with or performed in all respects,
            and the delivery by the Sellers to the Purchaser on Closing of the
            Sellers' Shares, properly endorsed over to the Purchaser, shall be
            deemed to constitute a certificate of each of the Sellers addressed
            to the Purchaser, effective as of the Time of Closing, that the
            terms, covenants and conditions of the Sellers in this Agreement
            have been complied with or performed in all respects as of the Time
            of Closing;

      (f)   there shall have been no material adverse changes in the condition
            (financial or otherwise), of the assets, liabilities, operations,
            earnings, business or prospects of Worldwide since the date of this
            Agreement;

      (g)   no legal or regulatory action or proceeding shall be pending or
            threatened by any person to enjoin, restrict or prohibit the
            transactions contemplated by this Agreement; and
<PAGE>

                                     - 7 -

      (h)   this Agreement and the transactions contemplated herein shall have
            been approved by the directors of Purchaser and, if required by the
            constating documents of the Purchaser or otherwise, by the
            shareholders of Purchaser.

            If any of the conditions contained in this Article IV shall not be
performed or fulfilled at or prior to the Time of Closing to the satisfaction of
Purchaser, acting reasonably, the Purchaser may, by notice to Sellers or any of
them, terminate this Agreement and the obligations of Purchaser and Sellers
under this Agreement. Any such condition may be waived in whole or in part by
Purchaser.

4.02 The Purchaser acknowledges that it has conducted a due diligence review of
the operations and affairs, revenues, expenses, assets, liabilities, agreements
and contracts of Worldwide and, as of the date of this Agreement, is satisfied
with the same.

                                   ARTICLE V

            Representations, Warranties and Covenants of Purchaser

5.01 Representations and Warranties of Purchaser

            Purchaser warrants and represents to Sellers as of the date hereof
            that:

      (a)   Purchaser has been duly incorporated and is validly subsisting under
            the laws of the State of Delaware;

      (b)   Purchaser has conducted and is conducting its business in compliance
            in all material respects with all applicable laws, rules and
            regulations of each jurisdiction in which it carries on business and
            holds all required licenses, registrations and qualifications in all
            jurisdictions in which it carries on business in order to carry on
            its business as now conducted and all such licenses, registrations
            or qualifications are valid and existing and in good standing;

      (c)   Purchaser is not subject to any judgment, order, writ, injunction or
            decree of any court or governmental body which would prevent the
            carrying out of this Agreement or consummation of the transactions
            herein contemplated;

      (d)   neither the execution and delivery of this Agreement by Purchaser,
            nor the performance of Purchaser's obligations hereunder will be in
            conflict with, or result in the breach of, or constitute a default
            by Purchaser under its constating documents or any document of any
            kind to which Purchaser is a party or by which it is bound, or under
            any judgment, decree, order, law, statute, rule or regulation
            applicable to Purchaser;

      (e)   Purchaser has the requisite corporate power and capacity to execute
            this Agreement and to create, allot and issue the Worldwide Data
            Shares as contemplated herein;

      (f)   there is no litigation which is material to the business or
            financial condition of Purchaser, there is no suit, action,
            litigation, arbitration proceeding or governmental proceeding,
            including appeals and applications for review, in progress, pending
            or threatened in writing, against or relating to Purchaser or its
            properties or business, which if determined adversely to Purchaser
            might materially and adversely affect the properties, business, or
            the financial condition of Purchaser;
<PAGE>

                                     - 8 -

      (g)   this Agreement has been duly executed and delivered by Purchaser and
            all documents required hereunder to be executed and delivered by it
            shall be duly executed and delivered by Purchaser and this Agreement
            does and such documents and instruments shall, constitute legal,
            valid and binding obligations of Purchaser at or prior to the Time
            of Closing, enforceable in accordance with their respective terms;

      (h)   all necessary corporate action has been taken or will be taken by
            Purchaser prior to the Closing to duly authorize the allotment and
            issue of the Worldwide Data Shares and the same will be validly
            issued and outstanding as fully paid and non-assessable shares;

      (i)   Purchaser has filed all necessary tax returns and notices on a
            timely basis and has paid all taxes of whatever nature, including
            all assessments, re-assessments, governmental charges, penalties,
            interest and fines due and payable by it, to the extent such taxes
            have become due or have been alleged to be due and Purchaser is not
            aware of any tax deficiencies or interest or penalties accrued or
            accruing, or alleged to be accrued or accruing, thereon with respect
            to itself;

      (j)   Purchaser has been and is in compliance with all applicable laws and
            regulations and orders and decisions rendered by any regulatory
            agency relating to the protection of the environment or the use,
            storage, or disposal or transport of toxic or hazardous wastes or
            substances. Purchaser has obtained all permits, approvals and other
            authorizations under such environmental laws as may be required to
            have been obtained by it. There are no orders or directions relating
            to environmental matters requiring any work or capital expenditures
            with respect to the business or assets of Purchaser nor has
            Purchaser received notice of same. Purchaser has not received any
            notice that it is potentially responsible for a clean-up or
            corrective action under any environmental laws;

      (k)   all books and records of Purchaser, financial, corporate or
            otherwise, have been kept in accordance with good bookkeeping
            practices, are true and correct in all respects and are in
            Purchaser's possession or under its control;

      (l)   there are no amounts of any kind whatsoever owing to Purchaser by
            any person not acting at arm's length with Purchaser as such term is
            defined in the Income Tax Act (Canada); all non-arm's length
            transactions involving Purchaser have been disclosed to Seller;

      (m)   no national, federal, provincial or state, municipal or other
            government or governmental department, commission, board, bureau,
            agency or instrumentality, has given written notice or has
            threatened in writing to modify or remove any license or operating
            certificate necessary in order for Purchaser to carry on its
            business or to expropriate or otherwise acquire, whether with or
            without compensation, any material property or assets of Purchaser
            or any interest therein and Purchaser is in compliance with the
            terms and conditions of its licenses and operating certificates;

      (n)   no order ceasing or suspending trading in securities of Purchaser or
            prohibiting the sale of the securities of Purchaser has been issued
            and no proceedings for this purpose are instituted, or are pending,
            contemplated or threatened;

      (o)   Purchaser has conducted and is conducting its business in compliance
            with all applicable laws, rules and regulations of each jurisdiction
            in which any material
<PAGE>

                                     - 9 -

            portion of its business is carried on and is duly licensed,
            registered or qualified in all jurisdictions in which the failure to
            be so licensed, registered or qualified would have a material
            adverse effect on the business of Purchaser, and all such licenses,
            registrations or qualifications are valid and existing and in good
            standing and none contain any term, provision, condition or
            limitation which has a material adverse effect on the operation of
            the business of Purchaser, as now carried on or proposed to be
            carried on;

      (p)   the recitals hereto are true and correct in fact and in substance.

5.02 Covenants of Purchaser

      (a)   Purchaser will make all filings as may be required of it in
            connection with the completion of the transactions herein
            contemplated;

      (b)   Purchaser shall conduct its business, operations and affairs only in
            the ordinary and normal course of business in all material respects
            consistent with past practice, and Purchaser shall not, without the
            prior written consent of Sellers, enter into any transaction or
            refrain from doing any action that, if effected before the date of
            this Agreement, would constitute a breach of any representation,
            warranty, covenant or other obligation of Purchaser contained
            herein, and provided further that Purchaser shall not make any
            material decisions or enter into any material contracts without the
            consent of Sellers, which consent shall not be unreasonably
            withheld, if the same would constitute a breach of any
            representation or warranty contained herein;

      (c)   Purchaser shall use reasonable commercial efforts to preserve intact
            its business, property, assets, operations and affairs and to carry
            on its business and affairs as currently conducted, and to promote
            and preserve for the Seller the goodwill of third parties having
            business relations with Purchaser;

      (d)   Purchaser shall pay and discharge its liabilities in the ordinary
            course in accordance and consistent with its practice, except those
            contested in good faith by Purchaser;

      (e)   Purchaser shall use reasonable commercial efforts to take all
            necessary corporate action, steps and proceedings to approve or
            authorize, validly and effectively, the execution and delivery of
            this Agreement and the other agreements and documents contemplated
            hereby and to cause all necessary meetings of the directors and
            shareholders of Purchaser to be held for such purpose.

                                   ARTICLE VI

              Representations, Warranties and Covenants of Sellers

6.01 Representations and Warranties of Sellers

            Sellers hereby jointly and severally represent and warrant to
Purchaser as of the date hereof that:

      (a)   Sellers are the sole beneficial owners of the Sellers' Shares, in
            the proportionate interests set out in the recitals hereto, free and
            clear of all liens, charges, mortgages, security interests, adverse
            claims, pledges, encumbrances, demands or rights of
<PAGE>

                                     - 10 -

            others whatsoever and have full right, power and authority to sell
            the Seller's Shares in accordance with the provisions hereof;

      (b)   the recitals hereto are true and correct in fact and in substance;

      (c)   neither the execution and delivery of this Agreement by Sellers, nor
            the performance of Sellers' obligations hereunder will be in
            conflict with, or result in the breach of, or constitute a default
            by any of the Sellers under any document of any kind to which any of
            the Sellers is a party, or to the best of the knowledge, information
            and belief of each of the Sellers, under any judgment, decree,
            order, law, statute, rule or regulation applicable to Sellers;

      (d)   each of the Sellers is in existence and in good standing (if a
            corporation) and has the capacity to execute and deliver this
            Agreement;

      (e)   this Agreement has been duly executed and delivered by each of the
            Sellers and all documents required hereunder to be executed and
            delivered by the Sellers shall have been duly executed and delivered
            by the Sellers and this Agreement does and such documents and
            instruments shall, constitute legal, valid and binding obligations
            of Sellers enforceable in accordance with their respective terms;

      (f)   all necessary corporate action has been taken or will be taken prior
            to Closing by any corporate Seller to duly authorize the execution
            and delivery of this Agreement and all closing and other
            documentation and acts contemplated or required herein;

      (g)   there is no litigation, proceeding or governmental investigation in
            progress, pending, threatened or contemplated, relating to the
            Shares owned by the Sellers and there is no outstanding execution,
            judgment, decree, injunction, rule or order of any court or
            governmental body affecting the Shares;

      (h)   endorsement and delivery of certificates representing the Shares for
            exchange pursuant to this Agreement by Sellers shall constitute a
            representation and warranty to Purchaser that the representations
            and warranties made by Sellers in this Agreement are true and
            correct at the Time of Closing as if they had been made at the Time
            of Closing;

      (i)   Worldwide has been duly incorporated and is validly subsisting under
            the laws of the Province of Ontario;

      (j)   Worldwide has conducted and is conducting its business in compliance
            in all material respects with all applicable laws, rules and
            regulations of each jurisdiction in which it carries on business and
            holds all material licenses, registrations and qualifications in all
            jurisdictions in which it carries on business in order to carry on
            its business as now conducted and all such licenses, registrations
            or qualifications are valid and existing and in good standing;

      (k)   no person, firm or corporation has any agreement, option, warrant or
            any right capable of becoming an agreement for the purchase,
            subscription or issuance of any of the unissued shares in the
            capital of Worldwide;

      (l)   Worldwide is not subject to any judgment, order, writ, injunction or
            decree of any court or governmental body which would prevent the
            carrying out of this Agreement or consummation of the transactions
            herein contemplated;
<PAGE>

                                     - 11 -

      (m)   neither the execution and delivery of this Agreement by Sellers, nor
            the performance of Sellers' obligations hereunder, will be in
            conflict with, or result in the breach of, or constitute a default
            by Worldwide under its constating documents or any document of any
            kind to which Worldwide is a party or by which it is bound, or under
            any judgment, decree, order, law, statute, rule or regulation
            applicable to Worldwide;

      (n)   there is no litigation which is material to the business or
            financial condition of Worldwide, (for the purposes of this
            Agreement, "material" means any claim or item amounting to or valued
            at $5,000 or more), there is no suit, action, litigation,
            arbitration proceeding or governmental proceeding, including appeals
            and applications for review, in progress, pending or threatened in
            writing, against or relating to Worldwide or its properties or
            business which if determined adversely to Worldwide might materially
            and adversely affect the properties, business, or the financial
            condition of Worldwide;

      (o)   Worldwide has no direct or indirect subsidiaries and does not own
            any securities of any other person;

      (p)   Worldwide has been and is in compliance with all applicable laws and
            regulations and orders and decisions rendered by any regulatory
            agency relating to the protection of the environment or the use,
            storage, or disposal or transport of toxic or hazardous wastes or
            substances. There are no orders or directions relating to
            environmental matters requiring any work or capital expenditures
            with respect to the business or assets of Worldwide nor has
            Worldwide received notice of same. Worldwide has not received any
            notice that it is potentially responsible for a cleanup or
            corrective action under any environmental laws;

      (q)   all books and records of Worldwide, financial, corporate or
            otherwise, have been kept in accordance with good bookkeeping
            practices, are true and correct in all respects and are in
            Worldwide's possession or under its control;

      (r)   Worldwide has conducted and is conducting its business in compliance
            with all applicable laws, rules and regulations of each jurisdiction
            in which any material portion of its business is carried on and is
            duly licensed, registered or qualified in all jurisdictions in which
            the failure to be so licensed, registered or qualified would have a
            material adverse effect on the business of Worldwide, and all such
            licenses, registrations or qualifications are valid and existing and
            in good standing and none contain any term, provision, condition or
            limitation which has a material adverse effect on the operation of
            the business of Worldwide, as now carried on or proposed to be
            carried on;

      (s)   Worldwide is not a party to or bound by any collective bargaining
            agreement with any labour union or association. There are no
            discussions, negotiations, demands or proposals that are pending or
            have been conducted or made with or by any labour union or
            association, Worldwide is not presently the subject of any
            organization efforts on the part of any labour organization seeking
            to represent any employees of Worldwide and there are not pending or
            threatened any labour disputes, strikes or work stoppages that may
            have a material adverse effect upon the continued business or
            operation of Worldwide;

      (t)   Worldwide has not declared or paid any dividends or made any
            distribution on its shares to the date hereof;
<PAGE>

                                     - 12 -

      (u)   all material national, state, provincial, local and other taxes,
            including without limitation, income taxes, corporate franchise
            taxes, and sales and ad valorem taxes. due and payable by Worldwide
            on or before the date of this Agreement have been paid, and
            Worldwide has filed all tax returns and reports required to be filed
            by it with all such taxing authorities. No assessments of
            deficiencies have been made against Worldwide and no extensions of
            time are in effect for the assessment of deficiencies;

      (v)   all licenses, franchises, permits, easements, certificates,
            consents, rights and privileges material to the conduct of the
            business of Worldwide or, to the knowledge of any of the Sellers,
            necessary for the lawful conduct of such business, pursuant to
            applicable statutes, laws, ordinances, rules and regulations of
            governmental bodies, agencies and other authorities having
            jurisdiction over Worldwide, or any part of its operations, are in
            full force and effect, there are no violations or claimed violations
            thereof and copies thereof have heretofore been furnished to the
            Purchaser or will be finished to the Purchaser.

6.02 Covenants of Sellers

            The Sellers jointly and severally covenant and agree with the
            Purchaser as follows:

      (a)   With the full cooperation and assistance of the Purchaser, Sellers
            will personally, and will cause Worldwide to, make all filings as
            may be required of it in connection with the completion of the Share
            Exchange;

      (b)   Sellers will cause Worldwide to conduct its business, operations and
            affairs only in the ordinary and normal course of business and in
            all material respects consistent with past practice and Sellers
            shall ensure that Worldwide will not, without the prior written
            consent of Purchaser, enter into any transaction or refrain from
            doing any action that, if effective before the date of this
            Agreement, would constitute a breach of any representation,
            warranty, covenant or other obligation of Sellers or any of them
            contained herein, and provided further that Sellers shall ensure
            that Worldwide shall not make any material decisions or enter into
            any material contracts without the consent of Purchaser, which
            consent shall not be unreasonably withheld, if the same would
            constitute a breach of any representation or warranty contained
            herein;

      (c)   Sellers shall ensure that Worldwide shall use reasonable commercial
            efforts to preserve intact its business, property, assets,
            operations and affairs and to carry on its business and affairs as
            currently conducted, and to promote and preserve for the Purchaser
            the goodwill of third parties having business relations with
            Worldwide;

      (d)   Sellers shall cause Worldwide to pay and discharge its liabilities
            in the ordinary course and consistent with its practice, except
            those contested in good faith by Worldwide;

      (e)   Sellers shall cause Worldwide to use reasonable commercial efforts
            to take all necessary corporate action, steps and proceedings to
            approve or authorize, validly and effectively, the execution and
            delivery of this Agreement and the other agreements and documents
            contemplated hereby and to cause all necessary meetings of the
            directors and shareholders of Worldwide to be held for such purpose;
<PAGE>

                                     - 13 -

      (f)   Sellers shall ensure that Worldwide does not issue any further
            shares of its capital stock (other than the Shares) or incur any
            liabilities from the date hereof to and including the Closing Date.

                                  ARTICLE VII

                   Survival of Representations and Warranties

            The representations and warranties of the parties hereto and
contained in this Agreement or any document or certificate given pursuant hereto
shall survive and shall not merge with the Closing.

                                  ARTICLE VIII

                                    General

8.01 Notice

            Any notice required or permitted hereunder to be given shall be
given by personal delivery, prepaid registered mail or facsimile communication,
to the respective parties at the addresses set forth below or at such other
addresses as the parties may designate in writing from time to time:

      Purchaser:  Worldwide Data Inc.
                  c/o 36 Toronto Street
                  Suite 201
                  Toronto, Ontario
                  M5C 2C5
                  Attention: Mr. Bronson Conrad
                  Facsimile: (416) 214-6299

      Sellers:    c/o 36 Toronto Street
                  Suite 201
                  Toronto, Ontario
                  M5C 2CS
                  Facsimile: (416) 214-6299

            Any notice, direction or other instrument aforesaid if delivered
shall be deemed to have been given or made on the date on which it was
delivered, if mailed, shall be deemed to have been given or made on the tenth
Business Day following the date on which it was mailed, and if sent by
facsimile, shall be deemed to have been given or made on the next Business Day
following the date on which it was sent, Saturdays, Sundays and statutory
holidays excepted. Any of the parties hereto may change its address for service
from time to time by written notice given in accordance with the foregoing.
Notice by mail shall not be effective during any postal strike or slowdown in
any area through which the notice must pass.

8.02 Assignment

      (a) This Agreement shall not be assigned by the parties hereto without the
prior written consent of all other parties hereto;
<PAGE>

                                     - 14 -

      (b) Any assignment of this Agreement or any obligation under this
Agreement shall not release a party hereto from its full obligations hereunder,
without the prior written consent of the other parties hereto.

8.03 Enurement

            This Agreement shall enure to the benefit of and be binding upon the
parties and their respective heirs, executors, legal personal representatives,
successors and permitted assigns.

8.04 Further Assurances

            The parties agree that they each will execute or cause to be
executed and delivered all such further and other documents and assurances, and
do and cause to be done all such further acts and things as may be necessary or
desirable to carry out this Agreement according to its true intent.

8.05 Counterparts

            This Agreement may be executed by the parties hereto in separate
counterparts each of which when so executed and delivered shall be an original
but all such counterparts shall together constitute one and the same instrument.

8.06 Facsimile

            This Agreement may be delivered by facsimile transmission and each
signed counterpart delivered by such means shall be deemed to be an original.

      IN WITNESS WHEREOF the parties hereto have hereunder executed this
Agreement as of the date first above written.

                                        WORLD WIDE DATA INC.

                                        Per: /s/ [ILLEGIBLE]
                                             -----------------------------------

                                        BRIDGEWATER CAPITAL CORP.

                                        Per: /s/ [ILLEGIBLE]
                                             -----------------------------------

[ILLEGIBLE]                             /s/ Bronson Conrad
-----------------------------------     ----------------------------------------
WITNESS                                 BRONSON CONRAD

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