Baylin Technologies Announces the Sale and Leaseback of its Kirkland, Quebec Facility
TORONTO, Oct. 29, 2019 /CNW/ - Baylin Technologies ("Baylin"; TSX:BYL) is pleased to announce that it has completed the sale of its Kirkland, Quebec facility ("Quebec Facility") for $7.1 million to 3NP Realty ("Purchaser"). Marland Management Services Inc. acted for the Purchaser.
Randy Dewey, President and CEO of Baylin, explains, "We are pleased to have sold the Quebec Facility. The proceeds from the sale will be used to repay a portion of the Company's existing credit facilities. We have negotiated a long-term lease with the new landlord allowing us to continue to operate our SatCom business from this location."
About Baylin
Baylin (TSX: BYL) is a diversified leading global wireless technology management company. Baylin focuses on research, design, development, manufacturing and sales of passive and active RF products and services. We aspire to exceed our customers' needs and anticipate the direction of the market.
Forward-looking Information Cautionary Statement
This news release contains statements that may constitute "forward-looking statements" or "forward looking information" under applicable securities laws, including statements relating to the customers and potential sales of products by Baylin and assumptions regarding the future performance of Baylin. Certain statements made in this news release that are not historical facts are also forward-looking statements. These forward-looking statements reflect management's current internal projections, expectations or beliefs and are based on information currently available to Baylin. In some cases, forward-looking statements can be identified by terminology such as "may", "will", "should", "expect", "intend", "plan", "anticipate", "believe", "predict", "potential", "continue" or the negative of these terms or other comparable terminology. A number of factors could cause actual events or results to differ materially from those discussed in the forward-looking statements. Risks and uncertainties that could cause or contribute to such differences include, but are not limited to, those described under "Risk Factors" in Baylin's most recent annual information form, which is available on SEDAR. Baylin has made a number of assumptions in making forward-looking statements in this news release. Although management believes that the forward-looking statements contained herein are based on reasonable assumptions, an investor cannot be assured that actual results will be consistent with such statements. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. Baylin cannot provide any assurance that forward-looking statements will materialize. The forward-looking statements included in this news release are made as of the date of this news release and Baylin undertakes no obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise except as may be required by applicable securities laws.
SOURCE Baylin Technologies Inc.
Investor Relations: Kelly Myles, Marketing and Communications Director, Baylin Technologies Inc., [email protected]; EVP Corporate Development: Daniel Kim, Baylin Technologies Inc., [email protected]
Share this article