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.