Pollard Banknote Limited Announces Closing of Its $ 34.5 Million Acquisition Financing Including Full Exercise of Over-Allotment Option


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WINNIPEG, MB, March 2, 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 Lottery and Charity Gaming, is pleased to announce that it has closed its previously announced public offer to purchase ordinary shares in the capital of the Company (“ordinary shares”) through a syndicate of underwriters co-managed by Acumen Capital Finance Partners Limited (“Acumen” and Canaccord Genuity Corp. and including Cormark Securities Inc. (collectively, the “Underwriters”). Acumen has acted as the sole bookrunner of the Offer 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 ordinary share for gross proceeds accruing to the company of approximately $ 34.5 million (the “Offer”).

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.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the common shares of 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 with 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 64.4% owned by the Pollard family and 35.6% by public shareholders (after giving effect to 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 differ materially from results, performance, or achievements expressed or implied by such 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] ; Rob Rose, Chief Financial Officer, Email: [email protected]; John Pollard, Co-Managing Director, Email: [email protected]; Pollard Banknote Limited, Telephone: (204) 474-2323

Related links

www.pollardbanknote.com


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