Blackline Safety Corp. ("Blackline" or the "Company") (TSX: BLN) a global leader in connected safety technology, is pleased to announce today that it has filed, and obtained a receipt for, a final short form prospectus (the "Prospectus") in each of the provinces of Canada, other than Québec, with respect to the previously announced bought deal offering of 4,950,000 common shares of Blackline (“Common Shares”) at a price of $4.05 per Common Share (the “Offering Price”) for gross proceeds to the Company of approximately $20 million (the “Offering”).
Access to the Prospectus and any amendment thereto is provided in accordance with securities legislation relating to procedures for providing access to a prospectus and any amendment thereto. The Prospectus and any amendment thereto is accessible on SEDAR+ at www.sedarplus.ca. An electronic or paper copy of the Prospectus and any amendment thereto may be obtained, without charge, by contacting Canaccord Genuity Corp. by e-mail at [email protected] by providing the contact with an email address or address, as applicable.
In connection with the Offering, the Company has granted the underwriters of the Offering an over-allotment option exercisable at any time up to 30 days following the closing of the Offering to purchase up to an additional 742,500 Common Shares at a price per Common Share equal to the Offering Price. As previously announced, concurrently with the Offering, the Company intends to complete, on a private placement basis (the "Private Placement"), a non-brokered offering of 2,475,000 Common Shares at a price equal to the Offering Price for gross proceeds of approximately $10 million to DAK Capital Inc. ("DAK"). As set forth in the Prospectus, in connection with the Private Placement, DAK may also acquire up to 371,250 additional Common Shares at a price equal to the Offering Price in the event the over-allotment option is exercised (in full or in part), on the basis of 0.5 of a Common Share for every one Common Share issued pursuant to the over-allotment option. The closing of the Offering and Private Placement is scheduled to occur on or about June 12th, 2024.
Blackline is also pleased to announce its lease securitization facility with CWB Maxium Financial Inc. has been renewed for an additional year in the amounts of $15 million and US$30 million covering the period from March 31, 2024 to March 31, 2025.
About Blackline Safety: Blackline Safety is a technology leader driving innovation in the industrial workforce through IoT (Internet of Things). With connected safety devices and predictive analytics, Blackline enables companies to drive towards zero safety incidents and improved operational performance. Blackline provides wearable devices, personal and area gas monitoring, cloud-connected software and data analytics to meet demanding safety challenges and enhance overall productivity for organizations with coverage in more than 100 countries. Armed with cellular and satellite connectivity, Blackline provides a lifeline to tens of thousands of people, having reported over 225 billion data-points and initiated over seven million emergency alerts. For more information, visit BlacklineSafety.com and connect with us on Facebook, X (formerly Twitter), LinkedIn and Instagram.
Note Regarding Forward-Looking Statements
This press release contains certain forward–looking information and statements within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. In particular, but without limiting the forgoing, this press release contains statements concerning the over-allotment option, the number of Common Shares to be issued pursuant to the Private Placement and the closing date of the Offering and Private Placement. Although Blackline believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because Blackline can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. The forward-looking statements contained in this press release are made as of the date hereof and Blackline undertakes no obligations to update publicly or revise any forward looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities in any jurisdiction. The common shares of Blackline will not be and have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States, or to a U.S. person, absent registration or applicable exemption therefrom.
All dollar amounts in this news release are stated in Canadian dollars unless otherwise noted.
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