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Blackline announces upsized $27.5 million bought deal private placement

Brendon Cook October 02, 2018

Calgary, Alberta — October 2, 2018 — Blackline Safety Corp. ("Blackline" or the "Company") (TSXV: BLN) is pleased to announce that, in connection with its previously announced private placement, Blackline and a syndicate of underwriters led by Raymond James Ltd. (collectively, the "Underwriters") have agreed to increase the size of the private placement (the "Offering"). The Underwriters will now place, on an underwritten private placement basis, 5,500,000 common shares of the Company (each, a "Common Share") at an issue price of $5 per Common Share for aggregate gross proceeds of approximately $27,500,000. In connection with the Offering, the Company has granted the Underwriters an option, exercisable in whole or in part at any time until 30 days after the closing date of the Offering, to increase the Offering by up to an additional 825,000 Common Shares for additional gross proceeds of up to $4,125,000.

The Offering is expected to close on or about October 22, 2018 and is subject to the receipt of all necessary approvals, including the approval of the TSX Venture Exchange. Blackline intends to use the net proceeds of the Offering to support the accelerated growth of its international sales network, to fund potential accretive acquisition opportunities as well as general corporate purposes.