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FINWIRES

Baylin Technologies Secures Financing to Close Kaelus Acquisition

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Baylin Technologies (BYL.TO) has secured the financing necessary to complete its planned acquisition of Kaelus, Baylin said Friday.

The financing comprises a C$30.9 million non-revolving secured credit facility arranged by SAF Group, comprising an initial advance of $20.6 million at closing and a delayed advance of $10.3 million.

Baylin also secured $10.3 million from its previously announced offering of 41,250,000 subscription receipts.

2385796 Ontario, Baylin's controlling shareholder, acquired 15,000,000 of the subscription receipts at $0.25 per subscription receipt for an aggregate subscription price of $3.8 million.

Closing of the deal is expected to occur on or about May 27, Baylin said.

Price: $0.25, Change: $+0.02, Percent Change: +8.70%

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