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  • Writer's pictureRudy Shirra

Sylogist Announces Debt Paydown and Share Repurchases

Sylogist Ltd. (TSX: SYZ) ("Sylogist" or the "Company"), a leading public sector SaaS company, is pleased to announce that it has repaid $4.5 million of its credit facility, bringing its total debt balance to $21.2 million, and repurchased approximately $0.5 million of its shares through its recently announced Normal Course Issuer Bid (NCIB). Also, Insiders have recently added approximately $0.2 million (CAD) to their holdings through open market purchases. Separately, as per his employment agreement, Sylogist will pay former Executive Vice President Dave Elder $1.2 million in connection with his retirement.

"Consistent with our previously announced capital allocation strategy, we are further enhancing Sylogist's strategic M&A capacity and reducing our interest exposure by paying down debt, while also increasing shareholder value through the NCIB," commented Bill Wood, Sylogist's President and CEO.

About Sylogist

Forward-Looking Statements

For further information contact:

Bill Wood, President and CEO or Rudy Shirra, Director of Business Development and Operations Strategy

Sylogist Ltd. (403) 266-4808


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