Pollard Banknote Limited Announces Closing of its $34.5 Million Bought Deal Financing Including Full Exercise of Over-Allotment Option

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES/

WINNIPEG, MB, March 2, 2021 /CNW/ - Pollard Banknote Limited (TSX: PBL) ("Pollard Banknote" or the "Company"), a leading lottery partner that provides instant tickets, iLottery solutions, charitable gaming products, and a complete array of offerings to the lottery and charitable gaming markets, is pleased to announce it has closed its previously announced bought deal public offering of common shares in the capital of the Company ("Common Shares") through a syndicate of underwriters co-led by Acumen Capital Finance Partners Limited ("Acumen") and Canaccord Genuity Corp. and including Cormark Securities Inc. (collectively, the "Underwriters").   Acumen acted as sole bookrunner on the Offering. Pollard Banknote issued 933,800 Common Shares, including 121,800 Common Shares for which the Underwriters exercised their over-allotment option in full, at a price of $36.95 per Common Share for gross proceeds to the Company of approximately $34.5 million (the "Offering").

The Company expects to use the net proceeds from the Offering to repay indebtedness under the Company's credit facility incurred in the recent acquisitions of Compliant Gaming LLC and Next Generation Lotteries AS.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Common Shares in the United States nor shall there be any sale of the Common Shares in any jurisdiction in which such offer, solicitation or sale would be unlawful. The Common Shares offered under the Offering have not been, and will not be, registered under the United States Securities Act of 1933, as amended, or the securities laws of any state of the United States. Accordingly, the Common Shares offered under the Offering may not be offered or sold in the United States or to U.S. persons unless an exemption from registration is available.

About Pollard Banknote

Pollard Banknote is a leading lottery partner to more than 60 lotteries worldwide, providing high quality instant ticket products, licensed games, Schafer Systems and Fastrak retail merchandising solutions, and a full suite of digital offerings, ranging from world-class mkodo game apps to comprehensive player engagement and iLottery solutions, including strategic marketing and management services. The Company is a proven innovator and has decades of experience helping lotteries to maximize player engagement, sales, and proceeds for good causes. Pollard Banknote also provides pull-tab tickets, bingo paper, and its Diamond Game and Compliant Gaming electronic games and devices to charitable and other gaming markets in North America. Established in 1907, Pollard Banknote is owned approximately 64.4% by the Pollard family and 35.6% by public shareholders (after giving effect to the Offering) and is publicly traded on the TSX (PBL). For more information, please visit our website at www.pollardbanknote.com.

Forward-looking Statements

Certain statements in this press release may constitute "forward-looking" statements and information, which involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. When used in this document, such statements include such words as "may," "will," "expect," "believe," "plan," and other similar terminology. These statements reflect management's current expectations regarding future events and operating performance and speak only as of the date of this document. There should not be an expectation that such information will in all circumstances be updated, supplemented, or revised whether as a result of new information, changing circumstances, future events, or otherwise.

SOURCE Pollard Banknote Limited

Doug Pollard, Co-Chief Executive Officer, E-mail: [email protected] ; Rob Rose, Chief Financial Officer, E-mail: [email protected]; John Pollard, Co-Chief Executive Officer, E-mail: [email protected]; Pollard Banknote Limited, Telephone: [phone]

Related Links

www.pollardbanknote.com