Sylogist Announces Listing on Toronto Stock Exchange
Updated: Aug 5
CALGARY, AB, March 30, 2021 /PRNewswire/ - Sylogist Ltd. (TSXV: SYZ) ("Sylogist" or the "Company"), is pleased to announce that it has received final approval to list its common shares on the Toronto Stock Exchange (the "TSX"). Effective at the market opening on Wednesday, March 31st, 2021 the Company's common shares will commence trading on the TSX under its existing symbol, "SYZ", and will be concurrently delisted from the TSX Venture Exchange.
Shareholders of Sylogist are not required to take any action in connection with its TSX listing, as there will be no change in the common shares' trading symbol or CUSIP.
Sylogist's President and CEO, Bill Wood, stated: "this is an important milestone for Sylogist. Joining the TSX raises our profile among retail and institutional investors, and provides a platform from which to expand our shareholder base as we execute our growth and value creation plans."
Certain statements in this news release may be forward-looking statements within the meaning of applicable securities laws and regulations. These statements typically use words such as expect, believe, estimate, project, anticipate, plan, may, should, could and would, or the negative of these terms, variations thereof or similar terminology. Forward-looking information in this news release includes statements with respect to integrating technology, benefits to Sylogist's go-to-market strategy, MAS' expected contribution to Sylogist's financial performance and growth, and the Company's expanded credit facility providing the resources for it to execute on strategic acquisitions. By their very nature, forward-looking statements are based on assumptions and involve inherent risks and uncertainties, both general and specific in nature. It is therefore possible that the beliefs and plans and other forward-looking expectations expressed herein will not be achieved or will prove inaccurate. Although Sylogist believes that the expectations reflected in these forward-looking statements are reasonable, it provides no assurance that these expectations will prove to have been correct. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information, including headwinds from COVID-19 and economic turmoil, customer delays and the availability of strategic and transformative acquisitions. Additional information regarding some of these risks, uncertainties and other factors may be found under in the management's discussion and analysis for the three months ended December 31, 2020, and other documents available on the Company's profile at www.sedar.com. Material assumptions and factors that could cause actual results to differ materially from such forward-looking information include Sylogist's ability to attract and retain customers and to realize on its investments. Although Sylogist believes that the material assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur. Sylogist disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Certain information set out herein may be considered as "financial outlook" within the meaning of applicable securities laws. The purpose of this financial outlook is to provide readers with disclosure regarding Sylogist's reasonable expectations as to the anticipated results of its proposed business activities for the periods indicated. Readers are cautioned that the financial outlook may not be appropriate for other purposes.
Non-GAAP Financial Measures
Adjusted EBITDA is a non-GAAP financial measures: Adjusted EBITDA is defined as: profit for the period before stock-based compensation, share-based payments, foreign exchange gains or losses, interest expense, bargain purchase price on acquisition, income taxes, acquisition-related costs, depreciation and amortization.
This news release makes reference to certain non-GAAP measures. These measures are not recognized measures under Canadian GAAP, do not have a standardized meaning prescribed by Canadian GAAP and are therefore may not be comparable to similar measures presented by other issuers. These measures are provided as additional information to complement measures under GAAP by providing further understanding of the Company's expected results of operations from management's perspective. Accordingly, such measures should not be considered in isolation nor as a substitute for analysis of the Company's financial information reported under Canadian GAAP.
Adjusted EBITDA is provided to investors as alternative methods for assessing the Company's operating results in a manner that is focused on the Company's ongoing operations and to provide a more consistent basis for comparison between periods. These measures should not be construed as alternatives to net profit (loss) or cash flow from operating activities determined in accordance with GAAP as an indicator of the Company's performance. For further information regarding non-GAAP measures used by the Company, please refer to the management's discussion and analysis of the Company, copies of which are available on Sylogist's SEDAR profile at www.sedar.com.