TORONTO, March 17, 2021 /CNW/ - Mr. Jeffrey C. Royer, Chairman of the Board of
Baylin Technologies Inc. ("Baylin"), announced that 2385796
Ontario Inc. ("238") has exercised 666,800 common share
purchase warrants ("Warrants") at an exercise price of
$1.05 per Warrant to acquire 666,800
common shares of Baylin. These common shares, together with 383,818
common shares acquired on December 31,
2020, represent approximately 2.2% of the 48,103,160 common
shares of Baylin currently outstanding before giving effect to the
exercise of the Warrants. Before giving effect to these
acquisitions, Mr. Royer exercised control and direction over
20,520,324 common shares, representing approximately 42.7% of the
common shares outstanding.
After giving effect to these acquisitions, Mr. Royer exercises
control and direction over 21,570,942 common shares, representing
approximately 44.2% of the 48,769,960 common shares outstanding.
The common shares are owned by an Associate of Mr. Royer and by
238, a company controlled by the Associate. Mr. Royer exercises
control and direction over the securities held by the Associate
and, by virtue of an agreement with the Associate, over the common
shares held by 238.
The common shares were acquired for investment purposes. Mr.
Royer may direct the purchase of additional common shares or other
securities of Baylin or direct the sale of common shares or other
securities of Baylin, in each case, based on market and other
conditions or other circumstances.
A copy of the early warning report required by National
Instrument 62-103 – The Early Warning System and Related
Take-Over Bid and Insider Reporting Issues incorporating this
and other information will be available under Baylin's issuer
profile on SEDAR at www.sedar.com and by contacting
Kelly Myles, Marketing and
Communications Director at Baylin, at
Kelly.myles@baylintech.com.
SOURCE Baylin Technologies Inc.