Blackline Raises $4.45 Million From Exercise of Warrants, Accelerates Product Development
CALGARY, ALBERTA–(Marketwired – April 2, 2015) – Blackline GPS Corp. (TSX VENTURE:BLN) (“Blackline” or the “Company”), a leader in the field of employee safety monitoring solutions, announces that holders of 2.97 million common share purchase warrants issued in connection with the Company’s private placement on July 31, 2012 have elected to exercise early, resulting in proceeds to the Company of $4.45 million.
“The exercise of these warrants, well before their July expiry date, provides Blackline with the additional funds needed to accelerate development of new, connected safety solutions,” says Cody Slater, CEO at Blackline. “This will enable us to broaden our market reach even further and address unmet customer needs.”
Blackline’s products are designed, developed, and manufactured at the Company’s headquarters in Calgary, Alberta. Targeting a broad cross-section of industries where safety is a corporate priority, Blackline’s solutions are promoted through offices in Calgary and the United Kingdom, and sold through a growing network of international distributors. Loner® safety monitoring solutions are designed to improve the outcome of an employee who has suffered a workplace injury, health event, or physical assault. Incorporating real-time communication and multiple location technologies, Blackline’s products help employers manage an efficient emergency response to a worker’s precise location. No matter where an employee is located-within buildings, populated areas, or the remote reaches of our planet, Blackline provides a complete suite of employee safety monitoring solution to match the challenge.
About Blackline: Blackline GPS Corp. (TSX VENTURE:BLN) is a wireless location leader that develops, manufactures, and markets products and services for worker safety monitoring. Blackline’s safety solutions deliver safety and location awareness through mobile messaging, monitoring portal, Blackline’s Safety Operations Center, and web services. Blackline’s vision is to become the leading supplier of wirelessly connected worker safety monitoring products in the world. Blackline products allow customers to protect their personnel, share the conditions of their environment, and connect with emergency services when necessary. Blackline solutions Protect. Share. Connect.®
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