Document:

EXHIBIT 4.6

                          COMMON STOCK PURCHASE WARRANT

THE WARRANT REPRESENTED BY THIS CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), AND IS SUBJECT TO RESTRICTIONS
ON TRANSFERABILITY AS SET FORTH IN THIS CERTIFICATE. THIS WARRANT MAY NOT BE
SOLD, TRANSFERRED, OR OTHERWISE DISPOSED OF IN THE ABSENCE OF AN EFFECTIVE
REGISTRATION STATEMENT UNDER THE ACT OR AN OPINION OF COUNSEL, REASONABLY
ACCEPTABLE TO COUNSEL FOR THE COMPANY, TO THE EFFECT THAT THE PROPOSED SALE,
TRANSFER, OR DISPOSITION MAY BE EFFECTUATED WITHOUT REGISTRATION UNDER THE ACT.

                                 WORKSTREAM INC.

                               WARRANT CERTIFICATE

      THIS WARRANT CERTIFICATE (the "Warrant Certificate") certifies that for
value received, ___________________ (the "Holder"), is the owner of this warrant
(the "Warrant"), which entitles the Holder to purchase at any time on or before
the Expiration Date (as defined below) (____________) shares (the "Warrant
Shares") of fully paid non-assessable shares of the common stock (the "Common
Stock"), of WORKSTREAM INC., a Canada corporation (the "Company"), at a purchase
price of $_______ per Warrant Share (the "Purchase Price"), in lawful money of
the United States of America by bank or certified check, subject to adjustment
as hereinafter provided. This Warrant is issued pursuant to the Business
Advisory Agreement (the "Business Advisory") dated of even date among the
Company and the Holder. Capitalized terms not otherwise defined herein shall
have the meanings ascribed to them in the Purchase Agreement.

1.    WARRANT; PURCHASE PRICE.

      This Warrant shall entitle the Holder to purchase the Warrant Shares at
the Purchase Price. The Purchase Price and the number of Warrant Shares
evidenced by this Warrant Certificate are subject to adjustment as provided in
Article 6.

2.    EXERCISE; EXPIRATION DATE.

      (a) This Warrant is exercisable, at the option of the Holder, at any time
after the date of issuance and on or before the Expiration Date (as defined
below) by (i) delivering to the Company written notice of exercise (the
"Exercise Notice"), stating the number of Warrant Shares to be purchased
thereby, accompanied by bank or certified check payable to the order of the
Company for the Warrant Shares being purchased provided, however, that this
Warrant may not be converted prior to the effectiveness of a registration

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statement with the Securities Exchange Commission for the Warrant Shares. Within
ten (10) business days of the Company's receipt of the Exercise Notice
accompanied by the consideration for the Warrant Shares being purchased, the
Company shall issue and deliver to the Holder a certificate representing the
Warrant Shares being purchased. In the case of exercise for less than all of the
Warrant Shares represented by this Warrant Certificate, the Company shall cancel
this Warrant Certificate upon the surrender thereof and shall execute and
deliver a new Warrant Certificate for the balance of such Warrant Shares.

      (b) Expiration. The term "Expiration Date" shall mean 5:00 p.m., Ottawa
time, on December 3, 2005 or if such date shall in the Province of Ontario shall
be a holiday or a day on which banks are authorized to close, then 5:00 p.m.,
Ottawa time, the next following day which in the Province of Ontario is not a
holiday or a day on which banks are authorized to close.

3.    RESTRICTIONS ON TRANSFER.

      (a) Restrictions. This Warrant, and the Warrant Shares or any other
security issuable upon exercise of this Warrant may not be assigned,
transferred, sold, or otherwise disposed of unless (i) there is in effect a
registration statement under the Act covering such sale, transfer, or other
disposition or (ii) the Holder furnishes to the Company an opinion of counsel,
reasonably acceptable to counsel for the Company, to the effect that the
proposed sale, transfer, or other disposition may be effected without
registration under the Act, as well as such other documentation incident to such
sale, transfer, or other disposition as the Company's counsel shall reasonably
request.

      (b) Legend. Any Warrant Shares issued upon the exercise of this Warrant
shall bear the following legend:

      "The shares evidenced by this certificate were issued upon exercise of a
      Warrant and may not be sold, transferred, or otherwise disposed of in the
      absence of an effective registration under the Securities Act of 1933 (the
      "Act") or an opinion of counsel, reasonably acceptable to counsel for the
      Company, to the effect that the proposed sale, transfer, or disposition
      may be effectuated without registration under the Act."

4.    RESERVATION OF SHARES.

      The Company covenants that it will at all time reserve and keep available
out of its authorized Common Stock, solely for the purpose of issuance upon
exercise of this Warrant, such number of shares of Common Stock as shall then be
issuable upon the exercise of this Warrant. The Company covenants that all

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shares of Common Stock which shall be issuable upon exercise of this Warrant
shall be duly and validly issued and fully paid and non-assessable and free from
all taxes, liens, and charges with respect to the issue thereof.

5.    LOSS OR MUTILATION.

      If the Holder loses this Warrant, or if this Warrant is stolen, destroyed
or mutilated, the Company shall issue an identical replacement Warrant upon the
Holder's delivery to the Company of a customary agreement to indemnify the
Company for any losses resulting from the issuance of the replacement Warrant.

6.    ANTI-DILUTION PROVISIONS.

      (a) Stock Dividends, Subdivisions and Combinations. If at any time the
Company shall:

                  (i) take a record of the holders of its Common Stock for the
purpose of entitling them to receive a dividend payable in, or other
distribution of, additional shares of Common Stock,

                  (ii) subdivide its outstanding shares of Common Stock into a
larger number of shares of Common Stock, or

                  (iii) combine its outstanding shares of Common Stock into a
smaller number of shares of Common Stock,

then (A) the number of shares of Common Stock for which this Warrant is
exercisable into immediately after the occurrence of any such event shall be
adjusted to equal the number of shares of Common Stock which a record holder of
the same number of shares of Common Stock for which this Warrant is exercisable
into immediately prior to the occurrence of such event would own or be entitled
to receive after the happening of such event, and (B) the Purchase Price shall
be adjusted to equal (x) the current Purchase Price immediately prior to the
adjustment multiplied by the number of shares of Common Stock for which this
Warrant is exercisable into immediately prior to the adjustment divided by (y)
the number of shares of Common Stock for which this Warrant is exercisable into
immediately after such adjustment.

            (b) Certain Other Distributions. If at any time the Company shall
take a record of the holders of its Common Stock for the purpose of entitling
them to receive any dividend or other distribution of:

                  (i) cash (other than a cash dividend payable out of earnings
or earned surplus legally available for the payment of dividends under the laws
of the jurisdiction of incorporation of the Company),

                  (ii) any evidences of its indebtedness, any shares of stock of
any class or any other securities or property of any nature whatsoever (other
than cash, convertible securities or additional shares of Common Stock), or

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                  (iii) any warrants or other rights to subscribe for or
purchase any evidences of its indebtedness, any shares of stock of any class or
any other securities or property of any nature whatsoever (other than cash,
convertible securities or additional shares of Common Stock),

then (A) the number of shares of Common Stock for which this Warrant is
exercisable into shall be adjusted to equal the product of the number of shares
of Common Stock for which this Warrant is exercisable into immediately prior to
such adjustment by a fraction (x) the numerator of which shall be the current
Purchase Price per share of Common Stock at the date of taking such record and
(y) the denominator of which shall be such current Purchase Price minus the
amount allocable to one share of Common Stock of any such cash so distributable
and of the fair value (as determined in good faith by the Board of Directors of
the Company) of any and all such evidences of indebtedness, shares of stock,
other securities or property or warrants or other subscription or purchase
rights so distributable, and (B) the Purchase Price shall be adjusted to equal
(x) the Purchase Price multiplied by the number of shares of Common Stock for
which this Warrant is exercisable into immediately prior to the adjustment
divided by (y) the number of shares of Common Stock for which this Warrant is
exercisable into immediately after such adjustment. A reclassification of the
Common Stock (other than a change in par value, or from par value to no par
value or from no par value to par value) into shares of Common Stock and shares
of any other class of stock shall be deemed a distribution by the Company to the
holders of its Common Stock of such shares of such other class of stock within
the meaning of this Section 6(b) and, if the outstanding shares of Common Stock
shall be changed into a larger or smaller number of shares of Common Stock as a
part of such reclassification, such change shall be deemed a subdivision or
combination, as the case may be, of the outstanding shares of Common Stock
within the meaning of Section 6(a).

            (c) Issuance of Additional Shares of Common Stock.

                  (i) If at any time the Company shall issue or sell any
additional shares of Common Stock in exchange for consideration in an amount per
additional share of Common Stock less than the current Purchase Price at the
time the additional shares of Common Stock are issued or sold, then (A) the
current Purchase Price shall be reduced to a price determined by dividing (x) an
amount equal to the sum of (1) the number of shares of Common Stock outstanding
immediately prior to such issue or sale multiplied by the then existing current
Purchase Price, plus (2) the consideration, if any, received by the Company upon
such issue or sale, by (y) the total number of shares of Common Stock
outstanding immediately after such issue or sale; and (B) the number of shares
of Common Stock for which this Warrant is exercisable into shall be adjusted to
equal the product obtained by multiplying the current Purchase Price in effect
immediately prior to such issue or sale by the number of shares of Common Stock
for which this Warrant is exercisable into immediately prior to such issue or
sale and dividing the product thereof by the current Purchase Price resulting
from the adjustment made pursuant to clause (i).

                  (ii) If the Company shall at any time issue or sell any
additional shares of Common Stock in exchange for consideration in an amount per
additional share of Common Stock less than the Current Market Price (as
hereinafter defined) at the time the additional shares of Common Stock are
issued or sold, then (A) the number of shares of Common Stock for which this
Warrant is exercisable into shall be adjusted to equal the product obtained by
multiplying the number of shares of Common Stock for which this Warrant is

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exercisable into immediately prior to such issue or sale by a fraction (x) the
numerator of which shall be the number of shares of Common Stock outstanding
immediately after such issue or sale, and (y) the denominator of which shall be
the number of shares of Common Stock outstanding immediately prior to such issue
or sale plus the number of shares which the aggregate offering price of the
total number of such additional shares of Common Stock would purchase at the
then Current Market Price; and (B) the current Purchase Price as to the number
of shares for which this Warrant is exercisable into prior to such adjustment
shall be adjusted by multiplying such current Purchase Price by a fraction (a)
the numerator of which shall be the number of shares for which this Warrant is
exercisable into immediately prior to such issue or sale; and (b) the
denominator of which shall be the number of shares of Common Stock purchasable
immediately after such issue or sale.

                  (iii) "Current Market Price" means, in respect of any share of
Common Stock on any date herein specified, if there shall not then be a public
market for the Common Stock, the value per share of Common Stock at such date as
is determined in the good faith judgment of the Board of Directors of the
Company, or if there shall then be a public market for the Common Stock, the
average of the daily market prices for 10 consecutive business days ending on
the business day prior to such date. The daily market price for each such
business day shall be (i) the last sale price on such day on the principal stock
exchange on which such Common Stock is then listed or admitted to trading, (ii)
if no sale takes place on such day on any such exchange, the average of the last
reported closing bid and asked prices on such day as officially quoted on any
such exchange, (iii) if the Common Stock is not then listed or admitted to
trading on any stock exchange, the average of the last reported closing bid and
asked prices on such day in the over-the-counter market, as furnished by the
National Association of Securities Dealers Automated Quotation System or the
National Quotation Bureau, Inc., (iv) if neither such corporation at the time is
engaged in the business of reporting such prices, as furnished by any similar
firm then engaged in such business, or (v) if there is no such firm, as
furnished by any member of the NASD selected mutually by the holders of at least
50% of the aggregate principal amount of the Warrants and the Company or, if
they cannot agree upon such selection, as furnished by two such members of the
NASD, one of which shall be selected by holders of at least 50% of the aggregate
principal amount of the Warrants and one of which shall be selected by the
Company.

                  (iv) If at any time the Company shall issue or sell any
additional shares of Common Stock in exchange for consideration in an amount per
additional shares of Common Stock which is less than the current Purchase Price
and Current Market Price at the time the additional shares of Common Stock are
issued or sold, the adjustment required under Section 6(c)(i) or 6(c)(ii) shall
be made in accordance with the formula contained therein which results in the
lower current Purchase Price following such adjustment. The provisions of
paragraphs 6(c)(i) and 6(c)(ii) shall not apply to any issuance of additional
shares of Common Stock for which an adjustment is provided under Section 6(a) or
6(b). No adjustment of the number of shares of Common Stock for which this
Warrant shall be exercisable into shall be made under paragraph 6(c)(i) or
6(c)(ii) upon the issuance of any additional shares of Common Stock which are
issued pursuant to the exercise of any warrants or other subscription or
purchase rights or pursuant to the exercise of any purchase or exchange rights
in any convertible securities, if any such adjustment shall previously have been
made upon the issuance of such warrants or other rights or upon the issuance of

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such convertible securities (or upon the issuance of any warrant or other rights
therefore) pursuant to Section 6(d) or Section 6(e).

            (d) Issuance of Warrants or Other Rights. If at any time the Company
shall take a record of the holders of its Common Stock for the purpose of
entitling them to receive a distribution of, or shall in any manner (whether
directly or by assumption in a merger in which the Company is the surviving
corporation) issue or sell, any warrants or other rights to subscribe for or
purchase any additional shares of Common Stock or any convertible securities,
whether or not the rights to exchange or convert thereunder are immediately
exercisable, and the price per share for which Common Stock is issuable upon the
exercise of such warrants or other rights or upon conversion or exchange of such
convertible securities shall be less than the current Purchase Price or the
Current Market Price in effect immediately prior to the time of such issue or
sale, then the number of shares for which this Warrant is exercisable into and
the current Purchase Price shall be adjusted as provided in Section 6(c) on the
basis that the maximum number of additional shares of Common Stock issuable
pursuant to all such warrants or other rights or necessary to effect the
conversion or exchange of all such convertible securities shall be deemed to
have been issued and outstanding and the Company shall have received all of the
consideration payable therefor, if any, as of the date of the actual issuance of
such warrants or other rights. If the maximum number of additional shares of
Common Stock necessary to effect the conversion or exchange is indeterminable as
a result of a conversion or exercise price which adjusts over time (whether
based on the Market Price of the Common Stock or otherwise), the determination
of adjustments pursuant to this Section 6(d) shall be determined at the time of
actual conversion or exercise of such convertible securities and an adjustment
shall be made only upon actual conversions or exchanges which are below the
Purchase Price or the Current Market Price on the date of issuance of such
Convertible Securities. No further adjustments of the current Purchase Price
shall be made upon the actual issue of such Common Stock or of such convertible
securities upon exercise of such warrants or other rights or upon the actual
issue of such Common Stock upon such conversion or exchange of such convertible
securities.

            (e) Issuance of Convertible Securities. If at any time the Company
shall take a record of the holders of its Common Stock for the purpose of
entitling them to receive a distribution of, or shall in any manner (whether
directly or by assumption in a merger in which the Company is the surviving
corporation) issue or sell, any convertible securities, whether or not the
rights to exchange or convert thereunder are immediately exercisable, and the
price per share for which Common Stock is issuable upon such conversion or
exchange shall be less than the current Purchase Price or Current Market Price
in effect immediately prior to the time of such issue or sale, then the number
of shares of Common Stock for which this Warrant is exercisable into and the
current Purchase Price shall be adjusted as provided in Section 6(c) on the
basis that the maximum number of additional shares of Common Stock necessary to
effect the conversion or exchange of all such convertible securities shall be
deemed to have been issued and outstanding and the Company shall have received
all of the consideration payable therefor, if any, as of the date of actual
issuance of such convertible securities. If the maximum number of additional
shares of Common Stock necessary to effect the conversion or exchange is

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indeterminable as a result of a conversion or exercise price which adjusts over
time (whether based on the Market Price of the Common Stock or otherwise), the
determination of adjustments pursuant to this Section 6(e) shall be determined
at the time of actual conversion or exercise of such convertible securities and
an adjustment shall be made only upon actual conversions or exchanges which are
below the Purchase Price or the Current Market Price on the date of issuance of
such Convertible Securities. No further adjustment of the number of shares of
Common Stock for which this Warrant is exercisable into and the current Purchase
Price shall be made under this Section 6(e) upon the issuance of any convertible
securities which are issued pursuant to the exercise of any warrants or other
subscription or purchase rights therefor, if any such adjustment shall
previously have been made upon the issuance of such warrants or other rights
pursuant to Section 6(d). No further adjustments of the number of shares of
Common Stock for which this Warrant is exercisable into and the current Purchase
Price shall be made upon the actual issue of such Common Stock upon conversion
or exchange of such convertible securities.

            (f) Superseding Adjustment.

                  (i) If, at any time after any adjustment of the number of
shares of Common Stock for which this Warrant is exercisable into and the
current Purchase Price shall have been made pursuant to Section 6(d) or Section
6(e) as the result of any issuance of warrants, other rights or convertible
securities, then (x) such warrants or other rights, or the right of conversion
or exchange in such other convertible securities, shall expire, and all or a
portion of such warrants or other rights, or the right of conversion or exchange
with respect to all or a portion of such other convertible securities, as the
case may be shall not have been exercised, or (y) the consideration per share
for which shares of Common Stock are issuable pursuant to such warrants or other
rights, or the terms of such other convertible securities, shall be increased
solely by virtue of provisions therein contained for an automatic increase in
such consideration per share upon the occurrence of a specified date or event,
then any such previous adjustments to this Warrant shall be rescinded and
annulled and the additional shares of Common Stock which were deemed to have
been issued by virtue of the computation made in connection with the adjustment
so rescinded and annulled shall no longer be deemed to have been issued by
virtue of such computation.

                  (ii) Upon the occurrence of an event set forth in Section 6(f)
above there shall be, a recomputation made of the effect of such warrants, other
rights or options or other convertible securities on the basis of: (a) treating
the number of additional shares of Common Stock or other property, if any,
theretofore actually issued or issuable pursuant to the previous exercise of any
such warrants or other rights or any such right of conversion or exchange, as
having been issued on the date or dates of any such exercise and for the
consideration actually received and receivable therefor, and (b) treating any
such warrants or other rights or any such other convertible securities which
then remain outstanding as having been granted or issued immediately after the
time of such increase of the consideration per share for which shares of Common
Stock or other property are issuable under such warrants or other rights or
other convertible securities; whereupon a new adjustment of the number of shares
of Common Stock for which this Warrant and the current Purchase Price shall be
made, which new adjustment shall supersede the previous adjustment so rescinded
and annulled.

            (g) Other Provisions Applicable to Adjustments. The following
provisions shall be applicable to the making of adjustments of the number of
shares of Common Stock for which this Warrant is exercisable into and the
current Purchase Price provided for in this Section 6:

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                  (i) Computation of Consideration. To the extent that any
additional shares of Common Stock or any convertible securities or any warrants
or other rights to subscribe for or purchase any additional shares of Common
Stock or any convertible securities shall be issued for cash consideration, the
consideration received by the Company therefor shall be the amount of the cash
received by the Company therefor, or, if such additional shares of Common Stock
or convertible securities are offered by the Company for subscription, the
subscription price, or, if such additional shares of Common Stock or convertible
securities are sold to underwriters or dealers for public offering without a
subscription offering, the initial public offering price (in any such case
subtracting any amounts paid or receivable for accrued interest or accrued
dividends and without taking into account any compensation, discounts or
expenses paid or incurred by the Company for and in the underwriting of, or
otherwise in connection with, the issuance thereof). To the extent that such
issuance shall be for a consideration other than cash, then, except as herein
otherwise expressly provided, the amount of such consideration shall be deemed
to be the fair value of such consideration at the time of such issuance as
determined in good faith by the Board of Directors of the Company. In case any
additional shares of Common Stock or any convertible securities or any warrants
or other rights to subscribe for or purchase such additional shares of Common
Stock or convertible securities shall be issued in connection with any merger in
which the Company issues any securities, the amount of consideration therefor
shall be deemed to be the fair value, as determined in good faith by the Board
of Directors of the Company, of such portion of the assets and business of the
nonsurviving corporation as such Board in good faith shall determine to be
attributable to such additional shares of Common Stock, convertible securities,
warrants or other rights, as the case may be. The consideration for any
additional shares of Common Stock issuable pursuant to any warrants or other
rights to subscribe for or purchase the same shall be the consideration received
by the Company for issuing such warrants or other rights plus the additional
consideration payable to the Company upon exercise of such warrants or other
rights. The consideration for any additional shares of Common Stock issuable
pursuant to the terms of any convertible securities shall be the consideration
received by the Company for issuing warrants or other rights to subscribe for or
purchase such convertible securities, plus the consideration paid or payable to
the Company in respect of the subscription for or purchase of such convertible
securities, plus the additional consideration, if any, payable to the Company
upon the exercise of the right of conversion or exchange in such convertible
securities. In case of the issuance at any time of any additional shares of
Common Stock or convertible securities in payment or satisfaction of any
dividends upon any class of stock other than Common Stock, the Company shall be
deemed to have received for such additional shares of Common Stock or
convertible securities a consideration equal to the amount of such dividend so
paid or satisfied. Whenever the Board of Directors of the Company shall be
required to make a determination in good faith of the fair value of any
consideration and the fair value of such consideration shall be determined by
the Board of Directors to equal or exceed $2,000,000, such determination shall,
if requested by the holder of 51% of the outstanding Warrants issued pursuant to
the Purchase Agreement, be supported by an opinion of an investment banking firm
of recognized national standing selected by the holder of this Warrant and
acceptable to the Company.

                  (ii) When Adjustments to Be Made. The adjustments required by
Section 6 shall be made whenever and as often as any specified event requiring
an adjustment shall occur, except that any adjustment of the number of shares of
Common Stock for which this Warrant is exercisable into that would otherwise be
required may be postponed (except in the case of a subdivision or combination of
shares of the Common Stock, as provided for in Section 6(a)) up to, but not

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beyond the date of exercise if such adjustment either by itself or with other
adjustments not previously made adds or subtracts less than 1% of the shares of
Common Stock for which this Warrant is exercisable into immediately prior to the
making of such adjustment. Any adjustment representing a change of less than
such minimum amount (except as aforesaid) which is postponed shall be carried
forward and made as soon as such adjustment, together with other adjustments
required by this Section 6 and not previously made, would result in a minimum
adjustment or, if sooner, on the date of exercise. For the purpose of any
adjustment, any specified event shall be deemed to have occurred at the close of
business on the date of its occurrence.

                  (iii) Fractional Interests. In computing adjustments under
this Section 6, fractional interests in Common Stock shall be taken into account
to the nearest 1/100th of a share.

                  (iv) When Adjustment Not Required.

                        (A) If the Company shall take a record of the holders of
its Common Stock for the purpose of entitling them to receive a dividend or
distribution or subscription or purchase rights and shall, thereafter and before
the distribution to stockholders thereof, legally abandon its plan to pay or
deliver such dividend, distribution, subscription or purchase rights, then
thereafter no adjustment shall be required by reason of the taking of such
record and any such adjustment previously made in respect thereof shall be
rescinded and annulled.

                        (B) No adjustment shall be required pursuant to this
Section 6 upon:

                        (1) the exercise of any warrants, options or convertible
securities granted, issued and outstanding on the date of issuance of this
Warrant;

                        (2) upon the grant or exercise of any stock or options
which may hereafter be granted or exercised under any employee stock option plan
of the Company now existing or to be implemented in the future, so long as the
issuance of such stock or options is approved by a majority of the independent
members of the Board of Directors of the Company or a majority of the members of
a committee of the independent directors established for such purpose; or

                        (3) the exercise of the Warrants;

                  (v) Escrow of Stock. If after any property becomes
distributable pursuant to this Section 6 by reason of the taking of any record
of the holders of Common Stock, but prior to the occurrence of the event for
which such record is taken, and the holder of this Warrant exercises this
Warrant, any shares of Common Stock issuable upon exercise by reason of such
event shall be deemed the last shares of Common Stock for which this Warrant is
exercised (notwithstanding any other provision to the contrary herein) and such

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shares or other property shall be held in escrow for the holder of this Warrant
by the Company to be issued to the holder of this Warrant upon and to the extent
that the event actually takes place, upon payment of the current Purchase Price.
Notwithstanding any other provision to the contrary herein, if the event for
which such record was taken fails to occur or is rescinded, then such escrowed
shares shall be canceled by the Company and escrowed property returned.

            (h) Other Action Affecting Common Stock. In case at any time or from
time to time the Company shall take any action in respect of its Common Stock,
other than the payment of dividends or any other action described in this
Section 6, then, unless such action will not have a materially adverse effect
upon the rights of the Holder of this Warrant, the number of shares of Common
Stock or other stock for which this Warrant is exercisable into and/or the
purchase price thereof shall be adjusted in such manner as may be equitable in
the circumstances.

            (i) Certain Limitations. Notwithstanding anything herein to the
contrary, the Company agrees not to enter into any transaction which, by reason
of any adjustment hereunder, would cause the current Purchase Price to be less
than the par value per share of Common Stock.

            (j) Certificate as to Adjustments. Upon the occurrence of each
adjustment or readjustment of the Purchase Price, the Company, at its expense,
shall promptly compute such adjustment or readjustment in accordance with the
terms hereof and prepare and furnish to the Holder a certificate setting forth
such adjustment or readjustment and showing in detail the facts upon which such
adjustment or readjustment is based. The Company shall, upon the written request
at any time of the Holder, furnish or cause to be furnished to such holder a
like certificate setting forth (i) such adjustments and readjustments, (ii) the
Purchase Price at the time in effect for this Warrant and (iii) the number of
shares of Common Stock and the amount, if any, or other property which at the
time would be received upon the exercise of this Warrant.

            (k) Notices of Record Date. In the event of any fixing by the
Company of a record date for the holders of any class of securities for the
purpose of determining the holders thereof who are entitled to receive any
dividend (other than a cash dividend) or other distribution, any shares of
Common Stock or other securities, or any right to subscribe for, purchase or
otherwise acquire, or any option for the purchase of, any shares of stock of any
class or any other securities or property, or to receive any other right, the
Company shall mail to the Holder at least thirty (30) days prior to the date
specified therein, a notice specifying the date on which any such record is to
be taken for the purpose of such dividend, distribution or rights, and the
amount and character of such dividend, distribution or right.

            (l) Merger, Consolidation, etc. In case of any capital
reorganization or any reclassification of the capital stock of the Company or in
case of the consolidation or merger of the Company with another corporation (or
in the case of any sale, transfer, or other disposition to another corporation
of all or substantially all the property, assets, business, and goodwill of the
Company), the Holder of this Warrant shall thereafter be entitled to purchase
the kind and amount of shares of capital stock which this Warrant entitled the
Holder to purchase immediately prior to such capital reorganization,
reclassification of capital stock, consolidation, merger, sale, transfer, or
other disposition; and in any such case appropriate adjustments shall be made in

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the application of the provisions of this Section 6 with respect to rights and
interests thereafter of the Holder of this Warrant to the end that the
provisions of this Section 6 shall thereafter be applicable, as near as
reasonably may be, in relation to any shares or other property thereafter
purchasable upon the exercise of this Warrant.

            (m) Fractional Shares. No certificate for fractional shares shall be
issued upon the exercise of this Warrant.

            (n) Rights of the Holder. The Holder of this Warrant shall not be
entitled to any rights of a shareholder of the Company in respect of any Warrant
Shares purchasable upon the exercise hereof until such Warrant Shares have been
paid for in full and issued to it. As soon as practicable after such exercise,
the Company shall deliver a certificate or certificates for the number of full
shares of Common Stock issuable upon such exercise, to the person or persons
entitled to receive the same.

            (o) Future Priced Securities Limitation. Notwithstanding anything
contained herein to the contrary, the aggregate number of shares of Common Stock
issued upon conversion and exercise of the Future Priced Securities (as defined
below) cannot equal or exceed 20% of the Common Stock outstanding immediately
before the issuance of a Future Priced Security, unless the Company has obtained
prior shareholder approval for such issuance. In the event the aggregate number
of shares of Common Stock that would be issued upon conversion and exercise of
the Future Priced Securities equals or exceeds 20% of the Common Stock so
outstanding, and the Company has failed to obtain prior shareholder approval for
such issuance, then the number of shares of Common Stock which the holders of
the Future Priced Securities would be entitled to acquire through the conversion
and exercise of the Future Priced Securities shall be reduced on a pro rata
basis (in proportion to a fraction, the numerator of which shall be the total
number of shares of Common Stock issuable to the holder of a Future Priced
Security upon exercise and conversion of such holder's Future Priced Security,
and the denominator of which shall be the aggregate number of shares of Common
Stock issuable upon exercise and conversion of all of the Future Priced
Securities) so that the aggregate number of shares of Common Stock issuable upon
exercise and conversion of the Future Priced Securities does not equal or exceed
20% of the Common Stock outstanding immediately before the first issuance of a
Future Priced Security. For purposes of this Warrant, "Future Priced Securities"
shall mean the Warrants and Common Shares of the Company issued in connection
with the transactions contemplated by the Purchase Agreement.

7.    REPRESENTATIONS AND WARRANTIES.

            The Holder, by acceptance of this Warrant, represents and warrants
to, and covenants and agrees with, the Company as follows:

            (a) The Warrant is being acquired for the Holder's own account for
investment and not with a view toward resale or distribution of any part
thereof, and the Holder has no present intention of selling, granting any
participation in, or otherwise distributing the same.

            (b) The Holder is aware that the Warrant is not registered under the
Act or any state securities or blue sky laws and, as a result, substantial
restrictions exist with respect to the transferability of the Warrant and the

                                       11
<PAGE>

Warrant Shares to be acquired upon exercise of the Warrant.

            (c) The Holder is an accredited investor as defined in Rule 501(a)
of Regulation D under the Act and is a sophisticated investor familiar with the
type of risks inherent in the acquisition of securities such as the Warrant, and
its financial position is such that it can afford to retain the Warrant and the
Warrant Shares for an indefinite period of time without realizing any direct or
indirect cash return on this investment.

8.    NO IMPAIRMENT

            The Company shall not by any action including, without limitation,
amending its certificate of incorporation or through any reorganization,
transfer of assets, consolidation, merger, dissolution, issue or sale of
securities or any other voluntary action, avoid or seek to avoid the observance
or performance of any of the terms of this Warrant, but will at all times in
good faith assist in the carrying out of all such terms and in the taking of all
such actions as may be necessary or appropriate to protect the rights of Holder
against impairment. Without limiting the generality of the foregoing, the
Company will (a) not increase the par value of any shares of Common Stock
receivable upon the exercise of this Warrant above the amount payable therefor
upon such exercise immediately prior to such increase in par value, (b) take all
such actions as may be necessary or appropriate in order that the Company may
validly and legally issue fully paid and nonassessable shares of Common Stock
upon the exercise of this Warrant, and (c) use its best efforts to obtain all
such authorizations, exemptions or consents from any public regulatory body
having jurisdiction thereof as may be necessary to enable the Company to perform
its obligations under this Warrant. Upon the request of Holder, the Company will
at any time during the period this Warrant is outstanding acknowledge in
writing, in form satisfactory to Holder, the continuing validity of this Warrant
and the obligations of the Company hereunder.

9.    SUPPLYING INFORMATION

            The Company shall cooperate with Holder and each holder of Warrant
Shares in supplying such information pertaining to the Company as may be
reasonable necessary for such Holder and each holder of Warrant Shares to
complete and file any information reporting forms presently or hereafter
required by the Securities and Exchange Commission as a condition to the
availability of an exemption from the Act for the sale of Warrant Shares.

10.   LIMITATION OF LIABILITY

            No provision hereof, in the absence of affirmative action by Holder
to purchase shares of Common Stock, and no enumeration herein of the rights or
privileges of Holder hereof, shall give rise to any liability of Holder for the
purchase price of any Common Stock or as a stockholder of the Company, whether
such liability is asserted by the Company or by creditors of the Company.

11.   MISCELLANEOUS.

            (a) Transfer Taxes; Expenses. The Holder shall pay any and all
underwriters' discounts, brokerage fees, and transfer taxes incident to the sale
or exercise of this Warrant or the sale of the underlying shares issuable

                                       12
<PAGE>

thereunder, and shall pay the fees and expenses of any special attorneys or
accountants retained by it.

            (b) Successors and Assigns. Subject to compliance with the
provisions of Section 3, this Warrant and the rights evidenced hereby shall
inure to the benefit of and be binding upon the successors of the Company and
the successors and assigns of Holder. The provisions of this Warrant are
intended to be for the benefit of all Holders from time to time of this Warrant,
and shall be enforceable by any such Holder.

            (c) Notice. Any notice or other communication required or permitted
to be given to the Company shall be in writing and shall be delivered by
certified mail with return receipt or delivered in person against receipt,
addressed to the Company as follows:

            Workstream Inc.
            495 March Road, Suite 300,
            Ottawa, Ontario, Canada K2K-3G1
            Attn:  Chairman

            (d) Governing Law. This Warrant Certificate shall be governed by,
and construed in accordance with, the laws of the Province of Ontario and the
Country of Canada applicable therein, without reference to the conflicts of
laws.

            IN WITNESS WHEREOF, the Company has caused this Warrant Certificate
to be duly executed as of the date set forth below.

                                        WORKSTREAM INC.

                                        By: /s/ Michael Mullarkey
                                            -------------------------
                                             Name:  Michael Mullarkey
                                             Title: Chairman and CEO

Date:  December 3, 2003

                                       13
<PAGE>

                           FORM OF EXERCISE OF WARRANT

            The undersigned hereby elects to exercise this Warrant as to
________ Common Shares covered thereby.

            Enclosed herewith is a bank or certified check in the amount of
$________.

Date:
     -----------------------------       --------------------------------------
                                         Name:
                                         Address:

                                         Signature
                                         Guarantor:
                                                   ----------------------------

                                       14
<PAGE>

                                   Schedule A

                       WARRANT HOLDERS OF WORKSTREAM INC.

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

NAME                                    EXERCISE PRICE         NO. OF SHARES
-------------------------------------------------------------------------------
Legend Merchant Group, Inc.                 $1.50                 50,000
-------------------------------------------------------------------------------
Legend Merchant Group, Inc.                 $1.75                 50,000
-------------------------------------------------------------------------------

                                       15EXHIBIT 4.7

                          REGISTRATION RIGHTS AGREEMENT
                          -----------------------------

      This  Registration  Rights Agreement (the "Agreement") is made and entered
into as of this  9th day of  December,  2003 by and  among  Workstream  Inc.,  a
corporation  incorporated  under the laws of Canada  (the  "Company"),  Standard
Securities  Capital  Corporation,  a corporation  incorporated under the laws of
Ontario ("Standard") and each of the Purchasers (as defined below).

      The parties hereby agree as follows:

      1. Certain Definitions.

      As used in this  Agreement,  the following  terms shall have the following
meanings:

      "Affiliate"  means,  with  respect to any person,  any other  person which
directly or indirectly  controls,  is controlled  by, or is under common control
with, such person.

      "Agency Agreement" means the Agency Agreement dated the date hereof by and
between the Company and Standard;

      "Agent's  Warrant  Shares" means the shares of Common Stock  issuable upon
the exercise of the Warrants.

      "Agent's  Warrants" means the warrants to purchase Common Shares issued to
the Agent pursuant to the Agency Agreement.

      "Business  Day" means a day,  other than a  Saturday  or Sunday,  on which
banks in New York City and Ottawa,  Ontario are open for the general transaction
of business.

      "Common Shares" shall mean the Company's Common Shares, and any securities
into which such shares may hereinafter be reclassified.

      "Prospectus"  shall  mean  the  prospectus  included  in any  Registration
Statement, as amended or supplemented by any prospectus supplement, with respect
to the  terms of the  offering  of any  portion  of the  Registrable  Securities
covered  by  such  Registration  Statement  and  by  all  other  amendments  and
supplements  to the  prospectus,  including  post-effective  amendments  and all
material incorporated by reference in such prospectus.

      "Purchasers" or "Purchaser" shall mean each of the persons who execute the
Acknowledge  Agreement  contained  in  Schedule  "A"  attached  hereto  and,  if
applicable,  any  transferee  or assignee  thereof to whom the rights under this
Agreement are assigned in accordance with Section 7(c) hereof, provided that the
shareholder  or such  transferee  or  assignee  shall  then own the  Registrable
Securities.

      "Register,"  "registered" and "registration"  refer to a registration made
by  preparing  and  filing a  Registration  Statement  or  similar  document  in
compliance with the 1933 Act (as defined below), and the declaration or ordering
of effectiveness of such Registration Statement or document.

      "Registrable  Securities" shall mean the Shares,  and the shares of Common
Stock issuable (i) upon the exercise of the Agent's  Warrants,  if any, and (ii)
any other  securities  issued or issuable  with  respect to or in  exchange  for
Registrable  Securities;  provided,  that,  a  security  shall  cease  to  be  a
Registrable Security upon (A) sale pursuant to a Registration  Statement or Rule
144 under the 1933 Act, or (B) such security  becoming  eligible for sale by the
Purchasers pursuant to Rule 144(k).

<PAGE>

      "Registration  Statement"  shall mean any  registration  statement  of the
Company  filed  under  the  1933  Act  that  covers  the  resale  of  any of the
Registrable Securities pursuant to the provisions of this Agreement,  amendments
and  supplements  to  such  Registration  Statement,   including  post-effective
amendments,  all  exhibits and all  material  incorporated  by reference in such
Registration Statement.

      "Required  Purchasers"  means the  Purchasers  holding a  majority  of the
Registrable Securities.

      "SEC" means the U.S. Securities and Exchange Commission.

      "Shares"  means the  Common  Shares  issued  pursuant  to the terms of the
Agency Agreement.

      "1933 Act" means the Securities Act of 1933, as amended, and the rules and
regulations promulgated thereunder.

      "1934 Act" means the Securities Exchange Act of 1934, as amended,  and the
rules and regulations promulgated thereunder.

      2. Registration.

                  (a) Registration Statements. Promptly following the closing of
the purchase and sale of the  securities  contemplated  by the Agency  Agreement
(the "Closing  Date") but no later than  forty-five  (45) days after the Closing
Date (the "Filing  Deadline"),  the Company  shall prepare and file with the SEC
one Registration Statement on Form S-3 (or, if Form S-3 is not then available to
the Company,  on such form of  registration  statement  as is then  available to
effect a registration for resale of the Registrable  Securities,  subject to the
Required Purchasers' consent), covering the resale of the Registrable Securities
in an amount at least  equal to the  number of  Shares  plus the  Common  Shares
necessary  to  permit  the  exercise  in  full  of the  Agent's  Warrants.  Such
Registration  Statement also shall cover, to the extent allowable under the 1933
Act  and  the  rules   promulgated   thereunder   (including   Rule  416),  such
indeterminate  number of additional  Common Shares  resulting from stock splits,
stock  dividends  or  similar  transactions  with  respect  to  the  Registrable
Securities.  The  Registration  Statement  (and  each  amendment  or  supplement
thereto,  and each request for acceleration of  effectiveness  thereof) shall be
provided in  accordance  with Section 3(c) to the  Purchasers  and their counsel
prior to its filing or other submission.  If a Registration  Statement  covering
the  Registrable  Securities is not filed with the SEC on or prior to the Filing
Deadline,  the  Company  will  make  pro rata  payments  to each  Purchaser,  as
liquidated  damages  and not as a  penalty,  in an  amount  equal to 1.5% of the
aggregate  amount  invested by such Purchaser for each 30-day period or pro rata
for any portion thereof following the date by which such Registration  Statement
should have been filed for which no Registration Statement is filed with respect
to the Registrable Securities. Such payments shall be in partial compensation to
the Purchasers,  and shall not constitute the Purchasers'  exclusive  remedy for
such events. Such payments shall be made to each Purchaser in cash.

                  (b)  Expenses.  The Company will pay all  expenses  associated
with  each  registration,  including  filing  and  printing  fees,  counsel  and
accounting  fees and expenses,  costs  associated  with clearing the Registrable

                                      -2-
<PAGE>

Securities for sale under applicable  state securities laws,  listing fees, fees
and expenses of one counsel to the  Purchasers  and the  Purchasers'  reasonable
expenses  in  connection  with  the  registration,   but  excluding   discounts,
commissions,  fees of underwriters,  selling brokers, dealer managers or similar
securities  industry  professionals  with respect to the Registrable  Securities
being sold.

                  (c) Effectiveness.

                  (i) The Company shall use commercially  reasonable  efforts to
have the Registration  Statement declared effective as soon as practicable.  The
Company  shall  notify the  Purchasers  by  facsimile  or e-mail as  promptly as
practicable,  and  in any  event,  within  two  (2)  Business  Days,  after  any
Registration  Statement  is declared  effective  and shall with two (2) Business
Days provide the Purchasers with copies of any related  Prospectus to be used in
connection with the sale or other disposition of the securities covered thereby.

                  (ii) No more than twice in any twelve (12) month period for an
aggregate  of not more  than  thirty  (30)  days,  the  Company  may  delay  the
disclosure  of  material  non-public  information  concerning  the  Company,  by
suspending the use of any Prospectus  included in any registration  contemplated
by this Section containing such information, the disclosure of which at the time
is not, in the good faith opinion of the Company,  in the best  interests of the
Company (an "Allowed  Delay");  provided,  that the Company  shall  promptly (a)
notify the  Purchasers in writing of the existence of (but in no event,  without
the prior  written  consent of a Purchaser,  shall the Company  disclose to such
Purchaser  any of the  facts or  circumstances  regarding)  material  non-public
information  giving rise to an Allowed  Delay,  and (b) advise the Purchasers in
writing to cease all sales under the Registration Statement until the end of the
Allowed Delay.

                  (d)  Underwritten  Offering.  If any  offering  pursuant  to a
Registration  Statement pursuant to Section 2(a) hereof involves an underwritten
offering,  the Company shall have the right to select an  investment  banker and
manager to administer the offering,  which investment banker or manager shall be
reasonably satisfactory to the Required Purchasers.

      3.  Company  Obligations.  The Company  will use  commercially  reasonable
efforts to effect the  registration of the Registrable  Securities in accordance
with the terms hereof,  and pursuant  thereto the Company will, as expeditiously
as possible:

                  (a)  use  commercially   reasonable   efforts  to  cause  such
Registration  Statement to become effective and to remain continuously effective
for a period that will  terminate  upon the earlier of (i) the date on which all
Registrable  Securities  covered by such Registration  Statement as amended from
time to time,  have  been  sold,  and (ii)  the  date on which  all  Registrable
Securities  covered by such Registration  Statement may be sold pursuant to Rule
144(k);

                  (b)  prepare  and  file  with  the  SEC  such  amendments  and
post-effective  amendments to the  Registration  Statement and the Prospectus as
may be necessary to keep the  Registration  Statement  effective  for the period
specified in Section 3(a) and to comply with the  provisions of the 1933 Act and

                                      -3-
<PAGE>

the  1934  Act  with  respect  to the  distribution  of  all of the  Registrable
Securities covered thereby;

                  (c) provide  copies to and permit  counsel  designated  by the
Purchasers  to  review  each  Registration  Statement  and  all  amendments  and
supplements  thereto no fewer than three (3) Business Days prior to their filing
with the SEC and not file any document to which such counsel reasonably objects;

                  (d)  furnish to the  Purchasers  and their  legal  counsel (i)
promptly  after the same is prepared  and publicly  distributed,  filed with the
SEC, or received by the Company (but not later than two (2) Business  Days after
the filing date,  receipt date or sending date, as the case may be) one (1) copy
of any  Registration  Statement  and any  amendment  thereto,  each  preliminary
prospectus and Prospectus  and each  amendment or supplement  thereto,  and each
letter  written  by or on behalf of the  Company  to the SEC or the staff of the
SEC,  and each item of  correspondence  from the SEC or the staff of the SEC, in
each case relating to such Registration Statement (other than any portion of any
thereof which contains information for which the Company has sought confidential
treatment),  and (ii)  such  number  of  copies  of a  Prospectus,  including  a
preliminary  prospectus,  and all  amendments and  supplements  thereto and such
other documents as each Purchaser may reasonably  request in order to facilitate
the disposition of the Registrable  Securities  owned by such Purchaser that are
covered by the related Registration Statement;

                  (e) in the event the Company  selects an  underwriter  for the
offering,  the Company shall enter into and perform its  reasonable  obligations
under an underwriting agreement, in usual and customary form, including, without
limitation,  customary  indemnification and contribution  obligations,  with the
underwriter of such offering;

                  (f) if required by the  underwriter,  or if any  Purchaser  is
described in the  Registration  Statement as an  underwriter,  the Company shall
furnish,  on the  effective  date of the  Registration  Statement  (except  with
respect to clause (i) below)  and on the date that  Registrable  Securities  are
delivered  to  an  underwriter,   if  any,  for  sale  in  connection  with  the
Registration  Statement  (including any Purchaser  deemed to be an underwriter),
(i) (A) in the case of an  underwritten  offering,  an opinion,  dated as of the
closing date of the sale of  Registrable  Securities to the  underwriters,  from
independent  legal  counsel  representing  the  Company  for  purposes  of  such
Registration  Statement, in form, scope and substance as is customarily given in
an  underwritten  public  offering,   addressed  to  the  underwriters  and  the
Purchasers  participating in such underwritten offering or (B) in the case of an
"at the  market"  offering,  an  opinion,  dated  as of or  promptly  after  the
effective date of the Registration Statement to the Purchasers, from independent
legal  counsel  representing  the  Company  for  purposes  of such  Registration
Statement,  in form,  scope and  substance as is  customarily  given in a public
offering,  addressed  to the  Purchasers,  and  (ii) a  letter,  dated as of the
effective date of such Registration Statement and confirmed as of the applicable
dates  described  above,  from  the  Company's   independent   certified  public
accountants  in form  and  substance  as is  customarily  given  by  independent
certified public accountants to underwriters in an underwritten public offering,
addressed  to  the  underwriters  (including  any  Purchaser  deemed  to  be  an
underwriter);

                                      -4-
<PAGE>

                  (g) use  commercially  reasonable  efforts to (i)  prevent the
issuance of any stop order or other  suspension  of  effectiveness  and, (ii) if
such order is issued,  obtain the  withdrawal  of any such order at the earliest
possible moment;

                  (h) prior to any public  offering of  Registrable  Securities,
use commercially reasonable efforts to register or qualify or cooperate with the
Purchasers   and  their  counsel  in  connection   with  the   registration   or
qualification  of such  Registrable  Securities  for  offer  and sale  under the
securities or blue sky laws of such  jurisdictions  requested by the  Purchasers
and do any and all other  commercially  reasonable  acts or things  necessary or
advisable to enable the  distribution in such  jurisdictions  of the Registrable
Securities covered by the Registration  Statement;  provided,  however, that the
Company shall not be required in connection  therewith or as a condition thereto
to (i) qualify to do business in any  jurisdiction  where it would not otherwise
be required to qualify but for this Section 3(h), (ii) subject itself to general
taxation in any jurisdiction  where it would not otherwise be so subject but for
this Section 3(h), or (iii) file a general  consent to service of process in any
such jurisdiction;

                  (i)  use   commercially   reasonable   efforts  to  cause  all
Registrable  Securities covered by a Registration Statement to be listed on each
securities  exchange,  interdealer  quotation  system  or other  market on which
similar securities issued by the Company are then listed;

                  (j)  immediately  notify  the  Purchasers,  at any time when a
Prospectus relating to Registrable  Securities is required to be delivered under
the 1933 Act,  upon  discovery  that,  or upon the  happening  of any event as a
result of which, the Prospectus included in a Registration Statement, as then in
effect,  includes an untrue  statement of a material  fact or omits to state any
material fact required to be stated  therein or necessary to make the statements
therein not misleading in light of the circumstances  then existing,  and at the
request of any such  holder,  promptly  prepare  and  furnish  to such  holder a
reasonable  number  of  copies  of a  supplement  to or  an  amendment  of  such
Prospectus  as  may  be  necessary  so  that,  as  thereafter  delivered  to the
purchasers of such Registrable Securities,  such Prospectus shall not include an
untrue statement of a material fact or omit to state a material fact required to
be stated therein or necessary to make the statements  therein not misleading in
light of the circumstances then existing; and

                  (k) otherwise use  commercially  reasonable  efforts to comply
with all applicable  rules and regulations of the SEC under the 1933 Act and the
1934 Act, take such other  actions as may be reasonably  necessary to facilitate
the registration of the Registrable Securities hereunder;

                  (l) With a view to  making  available  to the  Purchasers  the
benefits of Rule 144 (or its successor rule) and any other rule or regulation of
the SEC that may at any time permit the  Purchasers to sell Common Shares to the
public without  registration,  the Company covenants and agrees to: (i) make and
keep public information available,  as those terms are understood and defined in
Rule 144,  until the  earlier  of (A) six  months  after such date as all of the
Registrable  Securities may be resold  pursuant to Rule 144(k) or any other rule
of similar effect or (B) such date as all of the  Registrable  Securities  shall
have been  resold;  (ii) file with the SEC in a timely  manner all  reports  and
other documents required of the Company under the 1934 Act; and (iii) furnish to
each  Purchaser upon request,  as long as such  Purchaser  owns any  Registrable

                                      -5-
<PAGE>

Securities, (A) a written statement by the Company that it has complied with the
reporting  requirements of the 1934 Act, (B) a copy of the Company's most recent
Annual Report on Form 10-K, and (C) such other  information as may be reasonably
requested in order to avail such  Purchaser of any rule or regulation of the SEC
that   permits  the  selling  of  any  such   Registrable   Securities   without
registration.

      4. Due Diligence Review; Information.

                  (a)  Subject to Section  4(b) below,  the  Company  shall make
available,  during  normal  business  hours,  for  inspection  and review by the
Purchasers,  advisors to and  representatives  of the Purchasers (who may or may
not be affiliated  with the Purchasers and who are reasonably  acceptable to the
Company),  any underwriter  participating in any disposition of shares of Common
Stock on  behalf of the  Purchasers  pursuant  to a  Registration  Statement  or
amendments or  supplements  thereto or any blue sky,  NASD or other filing,  all
financial  and  other  records,  all  SEC  Filings  (as  defined  in the  Agency
Agreement) and other filings with the SEC, and all other corporate documents and
properties of the Company as may be reasonably necessary for the purpose of such
review,  and cause the Company's  officers,  directors and  employees,  within a
reasonable time period, to supply all such information  reasonably  requested by
the Purchasers or any such representative,  advisor or underwriter in connection
with such Registration Statement (including,  without limitation, in response to
all questions and other inquiries  reasonably made or submitted by any of them),
prior to and  from  time to time  after  the  filing  and  effectiveness  of the
Registration  Statement for the sole purpose of enabling the Purchasers and such
representatives,  advisors and underwriters and their respective accountants and
attorneys  to conduct  initial  and ongoing due  diligence  with  respect to the
Company and the accuracy of such Registration Statement.

                  (b)  The  Company  shall  not  disclose   material   nonpublic
information  to the  Purchasers,  or to  advisors to or  representatives  of the
Purchasers,   unless  prior  to  disclosure  of  such  information  the  Company
identifies such information as being material nonpublic information and provides
the Purchasers, such advisors and representatives with the opportunity to accept
or refuse to accept  such  material  nonpublic  information  for  review and any
Purchaser  wishing  to  obtain  such  information  enters  into  an  appropriate
confidentiality agreement with the Company with respect thereto.

      5. Obligations of the Purchasers.

                  (a) Each  Purchaser  shall  furnish in writing to the  Company
such information regarding itself, the Registrable Securities held by it and the
intended  method of disposition  of the  Registrable  Securities  held by it, as
shall be  reasonably  required to effect the  registration  of such  Registrable
Securities and shall execute such documents in connection with such registration
as the Company may reasonably  request. At least five (5) Business Days prior to
the first  anticipated  filing date of any Registration  Statement,  the Company
shall notify each Purchaser of the  information  the Company  requires from such
Purchaser if such  Purchaser  elects to have any of the  Registrable  Securities
included  in  the  Registration   Statement.  A  Purchaser  shall  provide  such
information  to the  Company at least two (2)  Business  Days prior to the first

                                      -6-
<PAGE>

anticipated filing date of such Registration  Statement if such Purchaser elects
to  have  any  of  the  Registrable  Securities  included  in  the  Registration
Statement.

                  (b)  Each  Purchaser,  by its  acceptance  of the  Registrable
Securities  agrees to cooperate with the Company as reasonably  requested by the
Company  in  connection  with  the  preparation  and  filing  of a  Registration
Statement  hereunder,  unless such Purchaser has notified the Company in writing
of its  election  to  exclude  all  of  its  Registrable  Securities  from  such
Registration Statement.

                  (c)  In  the  event  the  Company,   at  the  request  of  the
Purchasers,  determines to engage the services of an underwriter, such Purchaser
agrees  to  enter  into  and  perform  its  obligations  under  an  underwriting
agreement, in usual and customary form, including, without limitation, customary
indemnification and contribution  obligations,  with the managing underwriter of
such offering and take such other actions as are reasonably required in order to
expedite or facilitate the dispositions of the Registrable Securities.

                  (d) Each  Purchaser  agrees  that,  upon receipt of any notice
from the Company of either (i) the  commencement of an Allowed Delay pursuant to
Section  2(c)(ii) or (ii) the  happening  of an event  pursuant to Section  3(j)
hereof, such Purchaser will immediately  discontinue  disposition of Registrable
Securities  pursuant to the  Registration  Statement  covering such  Registrable
Securities,  until the Purchaser's  receipt of the copies of the supplemented or
amended prospectus filed with the SEC and declared effective and, if so directed
by the Company,  the  Purchaser  shall deliver to the Company (at the expense of
the  Company)  or  destroy  (and  deliver  to  the  Company  a  certificate   of
destruction) all copies in the Purchaser's possession of the Prospectus covering
the Registrable Securities current at the time of receipt of such notice.

                  (e)  No  Purchaser   may   participate   in  any  third  party
underwritten registration hereunder unless it (i) agrees to sell the Registrable
Securities on the basis provided in any  underwriting  arrangements in usual and
customary  form  entered into by the Company,  (ii)  completes  and executes all
questionnaires,  powers of attorney,  indemnities,  underwriting  agreements and
other  documents  reasonably  required  under  the  terms  of such  underwriting
arrangements,  and (iii)  agrees to pay its pro rata  share of all  underwriting
discounts and commissions.  Notwithstanding the foregoing, no Purchaser shall be
required to make any representations to such underwriter,  other than those with
respect to itself and the  Registrable  Securities  owned by it,  including  its
right to sell the Registrable  Securities,  and any  indemnification in favor of
the underwriter by the Purchasers  shall be several and not joint and limited in
the case of any Purchaser,  to the proceeds  received by such Purchaser from the
sale of its Registrable  Securities.  The scope of any such  indemnification  in
favor of an  underwriter  shall be limited to the same  extent as the  indemnity
provided in Section 6(b) hereof.

      6. Indemnification.

                  (a) Indemnification by the Company. The Company will indemnify
and hold harmless each Purchaser and its officers, directors, members, employees
and agents,  successors and assigns, and each other person, if any, who controls
such Purchaser within the meaning of the 1933 Act,  against any losses,  claims,
damages or liabilities, joint or several, to which they may become subject under

                                      -7-
<PAGE>

the  1933  Act  or  otherwise,  insofar  as  such  losses,  claims,  damages  or
liabilities (or actions in respect  thereof) arise out of or are based upon: (i)
any untrue  statement or alleged untrue statement of any material fact contained
in any Registration  Statement,  any preliminary  prospectus or final prospectus
contained  therein,  or any amendment or supplement  thereof;  (ii) any blue sky
application  or other  document  executed by the Company  specifically  for that
purpose or based upon written information  furnished by the Company filed in any
state or other  jurisdiction  in order to qualify any or all of the  Registrable
Securities under the securities laws thereof (any such application,  document or
information  herein  called a "Blue Sky  Application");  (iii) the  omission  or
alleged  omission to state therein a material fact required to be stated therein
or necessary to make the statements  therein not misleading;  (iv) any violation
by the  Company or its agents of any rule or  regulation  promulgated  under the
1933 Act  applicable  to the  Company or its agents  and  relating  to action or
inaction  required of the Company in connection with such  registration;  or (v)
any failure to register or qualify the  Registrable  Securities  included in any
such registration in any state where the Company or its agents has affirmatively
undertaken  or  agreed  in  writing  that  the  Company  will   undertake   such
registration or  qualification  on a Purchaser's  behalf (the undertaking of any
underwriter  chosen by the Company  being  attributed  to the  Company) and will
reimburse  such  Purchaser,  and each such officer,  director or member and each
such controlling person for any legal or other expenses  reasonably  incurred by
them in connection with investigating or defending any such loss, claim, damage,
liability or action;  provided,  however, that the Company will not be liable in
any such  case if and to the  extent  that  any  such  loss,  claim,  damage  or
liability  arises out of or is based upon an untrue  statement or alleged untrue
statement or omission or alleged omission so made in conformity with information
furnished  by  such  Purchaser  or  any  such  controlling   person  in  writing
specifically for use in such Registration Statement or Prospectus.

                  (b) Indemnification by the Purchasers.  In connection with any
registration  pursuant  to the  terms of this  Agreement,  each  Purchaser  will
furnish to the Company in writing  such  information  as the Company  reasonably
requests concerning the holders of Registrable Securities or the proposed manner
of  distribution  for use in  connection  with  any  Registration  Statement  or
Prospectus  and  agrees,  severally  but not  jointly,  to  indemnify  and  hold
harmless,  to the fullest extent  permitted by law, the Company,  its directors,
officers,  employees,  stockholders  and each  person who  controls  the Company
(within  the  meaning of the 1933 Act)  against  any  losses,  claims,  damages,
liabilities and expense (including  reasonable attorney fees) resulting from any
untrue  statement of a material fact or any omission of a material fact required
to be  stated  in  the  Registration  Statement  or  Prospectus  or  preliminary
prospectus  or  amendment  or  supplement  thereto  or  necessary  to  make  the
statements  therein not misleading,  to the extent,  but only to the extent that
such untrue  statement or omission is contained in any information  furnished in
writing by such  Purchaser  to the Company  specifically  for  inclusion in such
Registration  Statement or Prospectus or amendment or supplement  thereto. In no
event shall the  liability  of a Purchaser  be greater in amount than the dollar
amount of the proceeds (net of all expense paid by such  Purchaser in connection
with any claim  relating to this  Section 6 and the amount of any  damages  such
holder has otherwise been required to pay by reason of such untrue  statement or
omission) received by such Purchaser upon the sale of the Registrable Securities
included  in the  Registration  Statement  giving  rise to such  indemnification
obligation.

                  (c)  Conduct  of  Indemnification   Proceedings.   Any  person
entitled  to  indemnification  hereunder  shall  (i) give  prompt  notice to the
indemnifying  party of any claim with respect to which it seeks  indemnification

                                      -8-
<PAGE>

and (ii) permit such indemnifying party to assume the defense of such claim with
counsel  reasonably  satisfactory  to the indemnified  party;  provided that any
person  entitled  to  indemnification  hereunder  shall have the right to employ
separate  counsel and to participate in the defense of such claim,  but the fees
and expenses of such counsel  shall be at the expense of such person  unless (a)
the  indemnifying  party has  agreed to pay such  fees or  expenses,  or (b) the
indemnifying  party  shall have  failed to assume the  defense of such claim and
employ counsel  reasonably  satisfactory to such person or (c) in the reasonable
judgment  of any such  person,  based  upon  written  advice of its  counsel,  a
conflict of interest exists between such person and the indemnifying  party with
respect to such claims (in which case, if the person  notifies the  indemnifying
party in  writing  that such  person  elects to employ  separate  counsel at the
expense of the indemnifying  party,  the  indemnifying  party shall not have the
right to  assume  the  defense  of such  claim on behalf  of such  person);  and
provided,  further,  that the failure of any indemnified party to give notice as
provided  herein  shall not relieve the  indemnifying  party of its  obligations
hereunder,  except  to the  extent  that  such  failure  to  give  notice  shall
materially  adversely affect the  indemnifying  party in the defense of any such
claim or litigation.  It is understood that the indemnifying party shall not, in
connection with any proceeding in the same  jurisdiction,  be liable for fees or
expenses of more than one  separate  firm of  attorneys at any time for all such
indemnified  parties. No indemnifying party will, except with the consent of the
indemnified party, consent to entry of any judgment or enter into any settlement
that  does not  include  as an  unconditional  term  thereof  the  giving by the
claimant or plaintiff to such indemnified  party of a release from all liability
in respect of such claim or litigation.

                  (d)  Contribution.  If  for  any  reason  the  indemnification
provided  for in the  preceding  paragraphs  (a)  and (b) is  unavailable  to an
indemnified  party or insufficient to hold it harmless,  other than as expressly
specified  therein,  then the indemnifying  party shall contribute to the amount
paid or payable by the indemnified party as a result of such loss, claim, damage
or liability in such  proportion as is appropriate to reflect the relative fault
of the  indemnified  party  and the  indemnifying  party,  as well as any  other
relevant   equitable   considerations.    No   person   guilty   of   fraudulent
misrepresentation  within the meaning of Section  11(f) of the 1933 Act shall be
entitled  to  contribution  from  any  person  not  guilty  of  such  fraudulent
misrepresentation.  In no event shall the contribution obligation of a holder of
Registrable  Securities  be  greater  in amount  than the  dollar  amount of the
proceeds (net of all expenses  paid by such holder in connection  with any claim
relating  to this  Section  6 and the  amount of any  damages  such  holder  has
otherwise  been  required  to pay by reason of such  untrue  or  alleged  untrue
statement or omission or alleged  omission)  received by it upon the sale of the
Registrable Securities giving rise to such contribution obligation.

      7. Miscellaneous.

                  (a) Amendments and Waivers. This Agreement may be amended only
by a writing signed by the Company and Standard  having first received  approval
of the Required  Purchasers.  The Company may take any action herein prohibited,
or omit to perform any act herein  required to be  performed  by it, only if the
Company shall have  obtained the written  consent to such  amendment,  action or
omission to act, of the Agent,  having first  received  approval of the Required
Purchasers.

                                      -9-
<PAGE>

                  (b)  Notices.  Any notice or other  communication  to be given
hereunder  shall be in writing and shall be given by delivery or by  telecopier,
as follows:

            if to the Company:

            Workstream Inc.
            495 March Road, Suite 300
            Ottawa, Ontario
            J2K 3G1

            Attention:  Mr. Michael Mullarkey
            Fax:  (613) 270-0774

            with a copy to:

            Perley-Robertson, Hill and McDougall LLP
            90 Sparks Street, 4th Floor
            Ottawa, Ontario
            K1P 1E2

            Attention: Michael Gerrior
            Fax:  (613) 238-8775

            or if to Standard:

            Standard Securities Capital Corporation
            24 Hazelton Avenue
            Toronto, Ontario
            M5R 2E2

            Attention: Mark Marcello
            Fax:  (416) 515-0477

            with a copy to:

            Fraser Milner Casgrain LLP
            Suite 4100
            1 First Canadian Place
            100 King Street West
            Toronto, ON M5X 1B2

            Attention: Rubin Rapuch
            Fax:  (416) 863-4592

and if so given, shall be deemed to have been given and received upon receipt by
the  addressee or a responsible  officer of the addressee if delivered,  or four
hours after being telecopied and receipt  confirmed during normal business hours
at the  location  of the  recipient,  as the case may be. Any party may,  at any
time,  give notice in writing to the others in the manner  provided for above of
any change of address or telecopier number.

                  (c) Assignments and Transfers by Purchasers. The provisions of
this Agreement  shall be binding upon and inure to the benefit of the Purchasers
and their respective successors and assigns. A Purchaser may transfer or assign,
in  whole  or from  time to time in  part,  to one or more  persons  its  rights
hereunder in  connection  with the transfer of  Registrable  Securities  by such

                                      -10-
<PAGE>

Purchaser to such person,  provided that such  Purchaser  complies with all laws
applicable  thereto and provides  written  notice of  assignment  to the Company
promptly after such assignment is effected.  Further, any transferee or assignee
to whom rights under this  Agreement are  transferred  shall,  as a condition to
such transfer, deliver to the Company a written instrument, substantially in the
form of the  Acknowledge  Agreement  contained in Schedule "A" attached  hereto,
pursuant  to  which  such  transferee  or  assignee  agrees  to be  bound by the
obligations  imposed upon the Purchaser  under this Agreement to the same extent
as if such transferee were an original Purchaser hereunder.

                  (d) Assignments  and Transfers by the Company.  This Agreement
may not be assigned by the Company  (whether by operation  of law or  otherwise)
without the prior written consent of the Required Purchasers, provided, however,
that the Company may assign its rights and delegate its duties  hereunder to any
surviving or successor  corporation in connection with a merger or consolidation
of  the  Company  with  another  corporation,  or  a  sale,  transfer  or  other
disposition  of all or  substantially  all of the  Company's  assets to  another
corporation, without the prior written consent of the Required Purchasers, after
notice duly given by the Company to each Purchaser.

                  (e) Benefits of the  Agreement.  The terms and  conditions  of
this Agreement  shall inure to the benefit of and be binding upon the respective
permitted  successors  and assigns of the  parties.  Nothing in this  Agreement,
express or implied,  is intended to confer upon any party other than the parties
hereto  or  their  respective  successors  and  assigns  any  rights,  remedies,
obligations,  or  liabilities  under or by reason of this  Agreement,  except as
expressly provided in this Agreement.

                  (f) Counterparts; Faxes. This Agreement may be executed in two
or more  counterparts,  each of which  shall be deemed an  original,  but all of
which together shall constitute one and the same instrument.  This Agreement may
also be executed via facsimile, which shall be deemed an original.

                  (g) Titles and  Subtitles.  The titles and  subtitles  used in
this  Agreement  are used for  convenience  only and are not to be considered in
construing or interpreting this Agreement.

                  (h)  Severability.  Any  provision of this  Agreement  that is
prohibited or unenforceable in any jurisdiction  shall, as to such jurisdiction,
be ineffective to the extent of such  prohibition  or  unenforceability  without
invalidating the remaining  provisions  hereof but shall be interpreted as if it
were  written  so as to be  enforceable  to  the  maximum  extent  permitted  by
applicable law, and any such prohibition or unenforceability in any jurisdiction
shall  not  invalidate  or  render  unenforceable  such  provision  in any other
jurisdiction.  To the extent  permitted by  applicable  law, the parties  hereby
waive any provision of law which  renders any  provisions  hereof  prohibited or
unenforceable in any respect.

                  (i) Further Assurances.  The parties shall execute and deliver
all such further  instruments  and  documents and take all such other actions as
may reasonably be required to carry out the transactions contemplated hereby and
to evidence the fulfillment of the agreements herein contained.

                                      -11-
<PAGE>

                  (j)  Entire  Agreement.  This  Agreement  is  intended  by the
parties as a final  expression of their  agreement and intended to be a complete
and exclusive statement of the agreement and understanding of the parties hereto
in respect of the subject matter contained herein. This Agreement supersedes all
prior  agreements  and  understandings  between the parties with respect to such
subject matter.

                  (k) Governing  Law;  Consent to  Jurisdiction.  This Agreement
shall be governed by and construed  under the laws of the Province of Ontario as
applied to agreements  entered into and to be performed entirely within Ontario.
The Company hereby irrevocably consents to the jurisdiction of the Courts of the
Province of Ontario and any Federal Court located in Ontario in connection  with
any action or proceeding  arising out of or relating to this  Agreement.  In any
such litigation the Company waives personal service of any summons, complaint or
other  process and agrees that the service  thereof may be made by  certified or
registered  mail directed to the Chief  Executive  Officer of the Company as its
address set forth in Section 7(b).

                                      -12-
<PAGE>

IN WITNESS  WHEREOF,  the parties have executed  this  Agreement or caused their
duly  authorized  officers to execute this  Agreement as of the date first above
written.

The Company:                  WORKSTREAM INC.

                              By: /s/ Michael Mullarkey
                                  --------------------------------------------
                              Name: Michael Mullarkey
                              Title: President and Chief Executive Officer

On behalf of the Purchasers:  STANDARD SECURITIES CAPITAL CORPORATION

                              By: /s/ Mark Marcello
                                  --------------------------------------------
                              Name: Mark Marcello
                              Title: Managing Director, Investment Banking

                                      -13-
<PAGE>

                                  SCHEDULE "A"

                      PURCHASERS' ACKNOWLEDGEMENT AGREEMENT

TO:   WORKSTREAM INC.

AND  TO: STANDARD SECURITIES CAPITAL CORPORATION

This  acknowledgement  agreement (this "Agreement") is delivered pursuant to the
registration  rights agreement (the  "Registration  Rights Agreement") dated the
date hereof between  Workstream,  Standard and each of the Purchasers,  to which
this  Agreement  is attached as Schedule  "A".  Initial  capitalized  terms used
herein  where not  otherwise  defined  shall have the  meanings set forth in the
Registration Rights Agreement.

For good and valuable  consideration  (the  sufficiency and receipt of which are
hereby  acknowledged by the  undersigned),  the undersigned  hereby agrees to be
bound by and subject to the terms and obligations  contained in the Registration
Rights  Agreement  as if  the  undersigned  was  an  original  signatory  to the
Registration Rights Agreement.

The undersigned  acknowledges that this Agreement may be executed by each of the
Purchasers  by way of  counterpart  signatures,  each of which when so  executed
shall be deemed to be an  original  and all of which when taken  together  shall
constitute one and the same Agreement. Delivery of an executed page by facsimile
transmission by any party shall constitute valid and effective  delivery of this
Acknowledgement by such party.

      IN WITNESS  WHEREOF the parties have executed this  Acknowledgement  as of
the ________ day of December, 2003.

------------------------------------    ------------------------------------
Signature of Purchaser                  Name of  Purchaser
(if an individual)                      (if not an individual)

____________________________________    Per:________________________________
Name of Purchaser (if an individual)    Title:

                                      -14-
<PAGE>

                                   SCHEDULE I
                                   ----------

                                   PURCHASERS

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

AGF Growth Equity Fund
--------------------------------------------------------------------------------

BTR Global Arbitrage Trading Limited
--------------------------------------------------------------------------------

Northern Rivers Innovation Fund
--------------------------------------------------------------------------------

Delta One Northern Rivers Fund
--------------------------------------------------------------------------------

Nadal Investments Limited
--------------------------------------------------------------------------------

Hedda Zaionz
--------------------------------------------------------------------------------

Bernard Zaionz
--------------------------------------------------------------------------------

Charles Zaionz
--------------------------------------------------------------------------------

HJG Partnership
--------------------------------------------------------------------------------

1120288 Ontario Ltd.
--------------------------------------------------------------------------------

DGM Bank & Trust Inc.
--------------------------------------------------------------------------------

Romeo DiBattista
--------------------------------------------------------------------------------

IG AGF CDN Diversified Growth Class
--------------------------------------------------------------------------------

London Life Growth Equity Fund
--------------------------------------------------------------------------------

GWL Growth Equity Fund
--------------------------------------------------------------------------------

IG AGF Canadian Diversified Growth Fund
--------------------------------------------------------------------------------

Front Street Investment Management Inc.
--------------------------------------------------------------------------------

Casurina Performance Fund
--------------------------------------------------------------------------------

Front Street Canadian Hedge
--------------------------------------------------------------------------------

Delf Investment & Construction Inc.
--------------------------------------------------------------------------------

Casurina Limited Partnership
--------------------------------------------------------------------------------

Blumont Strategic Partnership
--------------------------------------------------------------------------------

                                      -15-

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