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RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR
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WINNIPEG, MB, March 2, 2021 /CNW/ - Pollard Banknote
Limited (TSX: PBL) ("Pollard Banknote" or the "Company"), a
leading lottery partner that provides instant tickets, iLottery
solutions, charitable gaming products, and a complete array of
offerings to the lottery and charitable gaming markets, is pleased
to announce it has closed its previously announced bought deal
public offering of common shares in the capital of the Company
("Common Shares") through a syndicate of underwriters co-led by
Acumen Capital Finance Partners Limited ("Acumen") and Canaccord
Genuity Corp. and including Cormark Securities Inc. (collectively,
the "Underwriters"). Acumen acted as sole bookrunner on
the Offering. Pollard Banknote issued 933,800 Common Shares,
including 121,800 Common Shares for which the Underwriters
exercised their over-allotment option in full, at a price of
$36.95 per Common Share for gross
proceeds to the Company of approximately $34.5 million (the "Offering").
The Company expects to use the net proceeds from the Offering to
repay indebtedness under the Company's credit facility incurred in
the recent acquisitions of Compliant Gaming LLC and Next Generation
Lotteries AS.
This press release shall not constitute an offer to sell
or the solicitation of an offer to buy the Common Shares in
the United States nor shall there
be any sale of the Common Shares in any jurisdiction in which such
offer, solicitation or sale would be unlawful. The Common Shares
offered under the Offering have not been, and will not be,
registered under the United States Securities Act of 1933, as
amended, or the securities laws of any state of the United States. Accordingly, the Common
Shares offered under the Offering may not be offered or sold in
the United States or to U.S.
persons unless an exemption from registration is
available.
About Pollard Banknote
Pollard Banknote is a leading lottery partner to more than 60
lotteries worldwide, providing high quality instant ticket
products, licensed games, Schafer Systems and Fastrak retail
merchandising solutions, and a full suite of digital offerings,
ranging from world-class mkodo game apps to comprehensive player
engagement and iLottery solutions, including strategic marketing
and management services. The Company is a proven innovator and has
decades of experience helping lotteries to maximize player
engagement, sales, and proceeds for good causes. Pollard Banknote
also provides pull-tab tickets, bingo paper, and its Diamond Game and Compliant Gaming electronic
games and devices to charitable and other gaming markets in North
America. Established in 1907, Pollard Banknote is owned
approximately 64.4% by the Pollard family and 35.6% by public
shareholders (after giving effect to the Offering) and is publicly
traded on the TSX (PBL). For more information, please visit our
website at www.pollardbanknote.com.
Forward-looking Statements
Certain statements in this press release may constitute
"forward-looking" statements and information, which involve known
and unknown risks, uncertainties, and other factors that may cause
actual results, performance, or achievements to be materially
different from any future results, performance, or achievements
expressed or implied by such forward-looking statements. When used
in this document, such statements include such words as "may,"
"will," "expect," "believe," "plan," and other similar terminology.
These statements reflect management's current expectations
regarding future events and operating performance and speak only as
of the date of this document. There should not be an expectation
that such information will in all circumstances be updated,
supplemented, or revised whether as a result of new information,
changing circumstances, future events, or otherwise.
SOURCE Pollard Banknote Limited