On December 15, 2020, Baylin Technologies Inc. closed a private placement of 6,666,700 units at a price of $0.75 per unit for aggregate gross proceeds of approximately $5 million. Each unit is comprised of one common share of Baylin and one-half of one common share purchase warrant. Each warrant is exercisable to acquire one common share at a price of $1.05 for a period of 24 months from the closing of the offering.
The offering was conducted by Paradigm Capital Inc. as lead agent, on behalf of a syndicate of agents, including CIBC Capital Markets, Raymond James Ltd. Cormark Securities Inc. and PI Financial Corp.
Cassels acted for the agents with a deal team that included Sean Maniaci, David Singh and Aamir Chherawala (Securities).