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Baylin Technologies prices public offering of common shares/NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES OF AMERICA OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA./ TORONTO, Dec. 8, 2016 /CNW/ - Baylin Technologies Inc. (TSX: BYL) (the "Company" or "Baylin"), is pleased to announce that it has filed an amended and restated preliminary short form prospectus to provide additional details concerning its previously announced proposed offering (the "Offering") of common shares (the "Offered Shares") of the Company, including the pricing of the Offering. Pursuant to the Offering, the Company will offer 2,703,000 Offered Shares at $1.85 per Offered Shares for aggregate gross proceeds of $5,000,550. The Offering is being conducted on a best-efforts basis by Paradigm Capital Inc. and Raymond James Ltd. as co-lead agents (the "Agents"). In connection with the Offering, the Company has granted the Agents the option, exercisable in whole or in part at any time and from time to time until the date that is 30 days from the date of the closing of the Offering, to sell up to that number of additional Common Shares as is equal to 15% of the Offered Shares sold under the Offering on identical terms. The Company intends to use the net proceeds of the Offering tofund research and development of the Company's entry into the Macro Antenna sector, as well as for capital expenditures and general working capital purposes. The Company has filed the amended and restated preliminary short form prospectus in each of the provinces of Canada other than Québec. The Company has applied to list the Offered Shares on the Toronto Stock Exchange (the "TSX"). The closing of the Offering is expected to occur on or about December 22, 2016 and is subject to certain customary conditions and receipt of applicable regulatory approvals, including approval of the TSX. About Baylin Forward-looking Information Cautionary Statement THIS NEWS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES IN THE UNITED STATES. THE SECURITIES HAVE NOT BEEN AND WILL NOT BE REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE "U.S. SECURITIES ACT") OR ANY STATE SECURITIES LAWS AND MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED UNDER THE U.S. SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS OR AN EXEMPTION FROM SUCH REGISTRATION IS AVAILABLE. SOURCE Baylin Technologies Inc. |