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.
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