Toronto, Canada – February 16, 2023 – Baylin Technologies Inc. (TSX: BYL) (the “Company”) is pleased to announce that its Advantech Wireless Technologies subsidiary has received orders totaling more than $1.5M CAD for its frequency converters and RF filters.
We received $500,000 in orders from a US based systems integrator for our frequency converters which are specifically designed to provide satellite tracking and navigation capabilities. In addition, we received a $1,000,000 order from a major system integrator for special RF filters used in Troposcatter applications.
John Restivo, President of Advantech, explains, “Much of what we do at Advantech involves engineering custom designs to fit specific applications and our broad portfolio of both passive and active products gives us a lot to work with.”
Leighton Carroll, CEO of the Company, said “Our Advantech teams in Canada and the US continue to innovate and deliver for our customers. I am thrilled to see the continued progress and success of our satellite communications business. Our products deliver value for our customers thereby continuing their high demand.”
Baylin is a leading diversified global technology company. The Company focuses on the research, design, development, manufacturing, and sale of passive and active radio-frequency products, satellite communications products, and supporting services.
This press release includes forward-looking information and forward-looking statements (together, “forward-looking statements”) within the meaning of applicable securities laws. They 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”, “plan”, “potential”, “project”, “outlook”, “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 progress and success of our satellite communications business and continuing high demand for its products. 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 terrestrial microwave 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.sedar.com. All the forward-looking statements made 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.
For further information contact:
Kelly Myles, Marketing and Communications Manager
Baylin Technologies Inc.