Baylin Announces New Conversion Price for its Convertible Debentures

TORONTO , May 20, 2021 /CNW/ - Baylin Technologies Inc. (TSX: BYL) (the "Company") announced today that, following approval by holders of its $17,250,000 principal amount of 6.5% Extendible Convertible Unsecured Debentures (the "Convertible Debentures") on April 8, 2021 and by holders of its common shares at the annual and special meeting of shareholders on May 11, 2021 , the new conversion price of the Convertible Debentures has been set at $1.11 per common share (the "New Conversion Price"). The New Conversion Price was determined based on the volume-weighted average trading price of the common shares of the Company on the Toronto Stock Exchange for the five consecutive trading days ending on May 19, 2021 . The New Conversion Price will remain in effect from May 20 until June 18, 2021 , after which it will revert to the original conversion price of $3.85 .

Holders of Convertible Debentures who wish to convert their Convertible Debentures at the New Conversion Price should contact their broker.

ABOUT BAYLIN

Baylin is a leading diversified global wireless technology company. Baylin focuses on research, design, development, manufacturing and sales of passive and active radio-frequency products, terrestrial microwave products, and services. Baylin aspires to exceed its customers' needs and anticipate the direction of the market. For further information, please visit www.baylintech.com .

SOURCE Baylin Technologies Inc.

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