Baylin Technologies Announces Receipt of $800,000 (CAD) Award For the North Warning System

TORONTO, Oct. 23, 2024 /CNW/ - Baylin Technologies Inc. (TSX: BYL) ("Baylin" or the "Company") is pleased to announce that its subsidiary, Advantech Wireless Technologies Inc. ("Advantech"), has won $800,000 (CAD) in business from the operations and maintenance provider for the Government of Canada's North Warning System.

The North Warning System is a radar surveillance system comprising 47 radar sites extending across the Arctic from the western part of the Yukon to the southern coast of Labrador. These radar sites are linked by a satellite communications network to the Canadian Air Defence Sector in North Bay, Ontario. 

Leighton Carroll, Baylin's CEO, "Ground station amplifiers from Advantech enable the continuous remote monitoring of all 47 sites on a 24/7 basis. Ground station amplifiers play an important role in both civilian and defence networks, facilitating reliable communication links between multiple sites. Advantech is proud to have been selected to provide these components for this critical early-warning radar system."

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, satellite communications products, and supporting services. Baylin aspires to exceed its customers' needs and anticipate the direction of the market. For further information, please visit www.baylintech.com.

Forward Looking Statements

This press release includes forward-looking information and forward-looking statements (together, "forward-looking statements") within the meaning of applicable securities laws. Forward-looking statements are not statements of historical fact. Rather, they are disclosure regarding conditions, developments, events or financial performance that we expect or anticipate may or will occur in the future, including, among other things, information or statements concerning our objectives and strategies to achieve those objectives, statements with respect to management's beliefs, estimates, intentions and plans, and statements concerning anticipated future circumstances, events, expectations, operations, performance or results. Forward-looking statements can be identified generally by the use of forward looking terminology, such as "anticipate", "believe", "could" "should", "would", "estimate", "expect", "forecast", "indicate", "intend", "likely, "may", "outlook", "plan", "potential", "project", "seek", "target", "trend" or "will", or the negative or other variations of these words or other comparable words or phrases, and are intended to identify forward-looking statements, although not all forward-looking statements contain these words.

The forward-looking statements in this press release include statements regarding the performance and purpose of Advantech's ground station amplifiers. Forward-looking statements are based on certain assumptions and estimates made by us in light of the experience and perception of historical trends, current conditions, expected future developments, including projected growth and sales in passive and active radio frequency and satellite communications products and services, and other factors we believe are appropriate and reasonable in the circumstances, but there can be no assurance that such assumptions and estimates will prove to be correct.

Many factors could cause our actual results, level of activity, performance or achievements or future events or developments to differ materially from those expressed or implied by the forward-looking statements, including the risk factors discussed in the Company's most recent Annual Information Form, which is available on the Company's profile on SEDAR+ at www.sedarplus.ca. All the forward-looking statements in this press release are qualified by these cautionary statements and other cautionary statements or factors in this press release. There can be no assurance that the actual results or developments will be realized or, even if substantially realized, will have the expected consequences to, or effects on, the Company. Unless required by applicable securities law, the Company does not intend and does not assume any obligation to update these forward-looking statements.

SOURCE Baylin Technologies Inc.

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