/NOT FOR DISTRIBUTION TO
Holders of Common Shares of record at the close of business on
2385796
Certain directors and officers, holding approximately 1% of the Common Shares outstanding at the date of this release, have indicated their intention to participate in the Offering by exercising some or all of their Basic Subscription Privilege.
The Company intends to use the proceeds of the Rights Offering (after payment of expenses of the Rights Offering), to the extent available, (i) to repay the remaining amount of its term loan facility (approximately
The Rights will trade on the TSX under the symbol "BYL.RT" commencing on
The Rights are being offered only to shareholders resident in
The Rights Offering Notice and an accompanying statement from
Shareholders who hold their Common Shares through an intermediary, such as a securities broker or dealer, bank or trust company, will receive materials and instructions from their intermediary.
The Rights and the Common Shares issuable on exercise of the Rights have not been and will not be registered under the United States Securities Act of 1933, as amended (the "
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of these securities in any other jurisdiction and these securities may not be offered or sold in any other jurisdiction in which such offer, solicitation or sale would be unlawful except in compliance with the securities or other applicable laws of such jurisdiction.
A copy of the Rights Offering Notice and Rights Offering Circular will be available under the Company's profile on SEDAR+ at www.sedarplus.ca and on the Company's website at www.baylintech.com.
This press release includes forward-looking information and forward-looking statements (together, "forward-looking statements") within the meaning of applicable securities laws. They are not statements of historical fact. Rather, they are disclosure regarding conditions, developments, events, or financial performance that we expect or anticipate may or will occur in the future, including, among other things, information or statements concerning our objectives and strategies to achieve those objectives, statements with respect to management's beliefs, estimates, intentions and plans, and statements concerning anticipated future circumstances, events, expectations, operations, performance, or results. Forward-looking statements can be identified generally by the use of forward‑looking terminology, such as "anticipate", "believe", "could" "should", "would", "estimate", "expect", "forecast", "indicate", "intend", "likely, "may", "plan", "potential", "project", "outlook", "seek", "target", "trend" or "will", or the negative or other variations of these words or other comparable words or phrases, and are intended to identify forward-looking statements, although not all forward-looking statements contain these words.
The forward-looking statements in this press release include statements regarding the completion of the Rights Offering, the anticipated use of proceeds, and the participation by insiders. Forward-looking statements are based on certain assumptions and estimates made by us in light of the experience and perception of historical trends, current conditions, expected future developments, including projected growth and sales in passive and active radio frequency and satellite communications products and supporting services, and other factors we believe are appropriate and reasonable in the circumstances, but there can be no assurance that such assumptions and estimates will prove to be correct.
Many factors could cause our actual results, level of activity, performance or achievements or future events or developments to differ materially from those expressed or implied by the forward-looking statements, including the risk that the Rights Offering may not be completed for any reason, and the risk of regulatory action, including the failure to receive final approval from the TSX, and risk factors discussed in the Company's most recent Annual Information Form, which is available on the Company's profile on SEDAR+ at www.sedarplus.ca.. All the forward-looking statements made in this press release are qualified by these cautionary statements and other cautionary statements or factors in this press release. There can be no assurance that the actual results or developments will be realized or, even if substantially realized, will have the expected consequences to, or effects on, the Company. Unless required by applicable securities law, the Company does not intend and does not assume any obligation to update these forward-looking statements.
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