TORONTO, Oct. 16, 2017 /CNW/ - Baylin Technologies Inc. (TSX: BYL) (the "Company" or "Baylin"), is pleased to announce that it has filed and obtained a receipt for a preliminary short form base shelf prospectus with the Securities Commissions in each of the provinces and territories of Canada.
Upon a final short form base shelf prospectus (the "Shelf Prospectus") becoming effective, these filings will, subject to securities regulatory requirements, allow the Company to make offerings of up to $200,000,000 of common shares, preferred shares, debt securities, warrants, subscription receipts, units, or any combination of such securities (all of the foregoing, collectively, the "Securities") during the 25-month period that the Shelf Prospectus is effective. The Securities may be offered separately or together, in amounts, at prices and on terms to be determined based on market conditions at the time of sale and set forth in an accompanying shelf prospectus supplement ("Prospectus Supplement") and, subject to applicable regulations, may include 'at-the-market' transactions, private placements, public offerings or strategic investments.
Unless otherwise specified in a Prospectus Supplement, the net proceeds from the sale of Securities for cash will be used for general corporate purposes including working capital, funding ongoing operations and/or capital requirements, reducing the level of indebtedness outstanding from time to time, discretionary capital programs, research and development, and potential future acquisitions. Each Prospectus Supplement will contain specific information, if any, concerning the use of proceeds from that sale of Securities.
Randy Dewey, CEO stated that: "The filing of this Shelf Prospectus provides flexibility for future securities based financings and this will enhance the Company's access to the capital markets. This allows the Company to take advantage of opportunities as they arise to increase value for all of our stakeholders"
This news release shall not in any circumstances constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which an offer, solicitation or sale would be unlawful prior to the registration or qualification under the applicable securities laws of any such jurisdiction.
A copy of the Shelf Prospectus can be found on SEDAR at www.sedar.com.
About Baylin Technologies Inc.
Baylin (TSX: BYL) is a leading global wireless technology management company. Baylin focuses on design, development, manufacturing and delivery of leading wireless products and services. We aspire to meet our customers' needs and anticipate the direction of the market.
SOURCE Baylin Technologies Inc.
For further information: Investor Relations: Kelly Myles, Marketing and Communications Manager, Baylin Technologies Inc., firstname.lastname@example.org