11:38:20 EDT Wed 22 May 2024
Enter Symbol
or Name

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Baylin Technologies Inc
Symbol BYL
Shares Issued 80,375,693
Close 2023-05-26 C$ 0.36
Market Cap C$ 28,935,249
Recent Sedar Documents

Baylin closes $3.12-million private placement

2023-05-26 17:36 ET - News Release

Mr. Jeffrey Royer reports


Baylin Technologies Inc. has completed its previously announced private placement of eight million common shares to its principal shareholder, 2385796 Ontario Inc., a company over which Jeffrey C. Royer, chairman of the board of directors of the company, exercises control and direction over investment decisions. The subscriber purchased the common shares at a subscription price of 39 cents per share (being the volume-weighted average trading price of the common shares on the Toronto Stock Exchange for the five trading days ending on May 19, 2023, the day the company filed notice of the private placement with the TSX). The company will use the $3.12-million proceeds to finance working capital in the business, including for use in the mobile and network business line. The common shares are being listed on the TSX. After giving effect to the private placement, the subscriber and a related party hold approximately 61.8 per cent of the outstanding common shares of the company.

About Baylin Technologies Inc.

Baylin is a diversified global wireless technology company. It focuses on the research, design, development, manufacture and sale of passive and active radio frequency products, satellite communications products, and supporting services.

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