Blackline Announces Closing of $40 Million Bought Deal Financing

Not for Distribution to U.S. News Wire Services or for Dissemination in the United States

Blackline Safety Corp. ("Blackline" or the "Company") (TSX: BLN) a global leader in connected safety technology with a hardware-enabled software-as-a-service (HeSaaS) business model, is pleased to announce the completion of its previously announced bought deal short-form prospectus offering (the “Offering”) of common shares of the Company (“Common Shares”). The Offering was conducted through a syndicate of underwriters co-led by PI Financial Corp. and Raymond James Ltd. and included Canaccord Genuity Corp., National Bank Financial Inc., TD Securities Inc., Beacon Securities Limited, Echelon Wealth Partners Inc., Peters & Co. Limited and Lightyear Capital Inc. (collectively, the "Underwriters"). In connection with the Offering, the Company issued 5,480,000 Common Shares at an issue price of $7.30 per Common Share for aggregate gross proceeds of $40 million.

“Investment fuels growth and we’ve already seen the returns that can come from advancing efforts in growing our product portfolio and expanding into new markets,” said Cody Slater, Blackline Safety’s CEO and Chair.

“This injection of capital builds upon the Company’s strong financial position and will help accelerate our strategies and investments in product commercialization, sales and marketing.”

The Company expects that the net proceeds of the Offering will be used primarily to further strengthen the Company's financial position and allow it to accelerate its growth strategies and investments in product commercialization, sales and marketing, and for general corporate and working capital purposes.

In connection with the closing of the Offering, Blackline and the Underwriters have also agreed to terminate the over-allotment option granted to the Underwriters.

About Blackline Safety: Blackline Safety is a global connected safety leader that helps to ensure every worker gets their job done and returns home safely each day. Blackline provides wearable safety technology, personal and area gas monitoring, cloud-connected software and data analytics to meet demanding safety challenges and increase productivity of organizations with coverage in more than 100 countries. Blackline Safety wearables provide a lifeline to tens of thousands of people, having reported over 161 billion data-points and initiated over five million emergency responses. Armed with cellular and satellite connectivity, we ensure that help is never too far away. For more information, visit BlacklineSafety.com and connect with us on Facebook, Twitter, LinkedIn and Instagram.

Note Regarding Forward-Looking Statements

This press release contains certain forward–looking information and statements within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. In particular, but without limiting the forgoing, this press release contains statements concerning the anticipated use of the net proceeds of the Offering. Although Blackline believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because Blackline can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. The intended use of the net proceeds of the Offering by Blackline might change if the board of directors of Blackline determines that it would be in the best interests of Blackline to deploy the proceeds for some other purpose. The forward looking statements contained in this press release are made as of the date hereof and Blackline undertakes no obligations to update publicly or revise any forward looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy the securities in any jurisdiction. The common shares of Blackline will not be and have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States, or to a U.S. person, absent registration or applicable exemption therefrom.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211019005726/en/