Blackline Safety Corp. intends to complete a non-brokered private placement of CAD 12 million of common shares at offering price to DAK Capital Inc. and entities owned and controlled by Cody Slater, the chief executive officer and chairman of the company and Brad Gilewich, a director of the company. the concurrent private placement is expected to close concurrently with the closing of the offering.

the placement common shares will be subject to a statutory hold period. completion of the concurrent private placement is subject to a number of conditions, including the approval of the toronto stock exchange. completion of the offering is conditional upon the concurrent closing of the concurrent private placement for gross proceeds of not less than CAD 10 million.

The company intends to close the transaction on August 25, 2022.