Pollard Banknote Limited announces $ 30.0 million bought deal financing



WINNIPEG, MB, February 9, 2021 / CNW / – Pollard Banknote Limited (TSX: PBL) (“Pollard Banknote” or the “Company”), a leading lottery partner providing instant tickets, iLottery solutions, charitable gaming products and a full range of offerings to the markets of Lottery and Charity Gaming, is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by Acumen Capital Finance Partners Limited (together, the “Underwriters”) to purchase on the basis of a underwriting 812,000 common shares of Pollard Banknote (“common shares”) at a price of $ 36.95 per common share (the “Offer Price”) for gross proceeds accruing to the Company of approximately $ 30.0 million (the “Offer”).

The Company has granted the underwriters an over-allotment option, exercisable at any time up to 30 days after the closing of the offering, to purchase up to 121,800 additional common shares at a price per common share equal to the price of ‘offer. In the event of full exercise of the over-allotment option, the gross proceeds of the Offer will be approximately $ 34.5 millions.

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

The common shares will be offered by way of a simplified prospectus which will be filed with the securities commissions and other similar regulatory bodies in each of the provinces and territories of Canada in accordance with Regulation 44-101 Distributions by simplified prospectus, and in United States on the basis of a private placement under an exemption from the registration requirements of the United States Securities Act of 1933, as amended.

The placement is scheduled to close on or around March 2, 2021, and is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange and securities regulatory authorities, and the satisfaction of other customary closing conditions.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the Common Shares in United States nor will there be any sale of Common Shares in any jurisdiction where such an offer, solicitation or sale would be illegal. 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. United States. Consequently, the common shares offered under the offering may not be offered or sold in United States or to United States persons unless an exemption from registration is available.

About Pollard Banknote

Pollard Banknote is a major lottery partner of over 60 lotteries around the world. 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 revenue for good causes. Pollard Banknote also provides tab tickets, bingo paper and its Diamond game and games and electronic gaming devices compliant with the charity markets and other games in North America. Founded in 1907, Pollard Banknote is approximately 66.7% owned by the Pollard family and 33.3% by public shareholders (prior to the implementation of the Offer) and is listed on the TSX (PBL). For more information, please visit our website at www.pollardbanknote.com.

Forward-looking statements

Certain statements contained in this press release may constitute “forward-looking” statements and information, which involve known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements to be materially different. results, performances, or achievements expressed or implied by these forward-looking statements. When used in this document, these statements include words such as “may”, “will”, “expect”, “believe”, “plan” and other similar terms. These statements reflect management‘s current expectations regarding future events and operational performance and speak only as of the date of this document. This information should not be expected to be updated, supplemented or revised at all times, whether as a result of new information, changing circumstances, future events or otherwise.

SOURCE Pollard Banknote Limited

For further information: Doug Pollard, Co-CEO, Email: [email protected]; John Pollard, Co-Managing Director, Email: [email protected]; Rob Rose, Chief Financial Officer, Email: [email protected]; Pollard Banknote Limited, Telephone: (204) 474-2323

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