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Dec 15, 2020
Baylin Technologies Inc. Completes $5 Million Private Placement
Baylin Technologies Inc. (TSX:BYL) (“Baylin”), a leading, diversified, global technology company, recently completed a $5 million private placement offering of 6,666,700 units ("Units") at a price of $0.75 per Unit for aggregate gross proceeds of approximately $5 million. Each Unit was comprised of one common share in the capital of Baylin and one-half of one common share purchase warrant, each whole warrant being exercisable for two years from closing at an exercise price of $1.05 per share, subject to acceleration in certain circumstances. The net proceeds from the offering will be used by Baylin to repay outstanding debt and for general working capital purposes.
Paradigm Capital Inc. acted as lead agent for the offering with a syndicate comprised of CIBC World Markets Inc., Raymond James Ltd., Cormark Securities Inc. and PI Financial Corp.
Aird & Berlis acted on behalf of Baylin with a team composed of Richard Kimel, Amy Marcen-Gaudaur and Meredith McCann (Capital Markets).