Blackline announces $20 million bought deal private placement
October 2, 2018
Calgary, Alberta — October 2, 2018 — Blackline Safety Corp. (“Blackline” or the “Company“) (TSXV: BLN) is pleased to announce that it has entered into an agreement with Raymond James Ltd., on its own behalf and on behalf of a syndicate of underwriters (collectively, the “Underwriters“), pursuant to which the Underwriters have agreed to place, on an underwritten private placement basis, 4,000,000 common shares of the Company (“Common Shares“) at an issue price of $5.00 per Common Share for aggregate gross proceeds of $20,000,000 (the “Offering“). In connection with 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 600,000 Common Shares for additional gross proceeds of up to $3,000,000.
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.