WILMINGTON, Mass., Nov. 22,
2022 /CNW/ - Liberty Defense Holdings Ltd.
("Liberty" or the "Company") (TSXV: SCAN) (OTCQB:
LDDFF) (FRANKFURT: LD2A), a leading technology provider of
detection solutions for concealed weapons and threats, is pleased
to announce it was recently awarded an 'ASTORS' Homeland Security
Award in the gold category for Best Weapons Detection Solution from
American Security Today for its HEXWAVE™ walkthrough people
screening portal.
American Security Today's annual 'ASTORS' Homeland Security
Awards highlight the most cutting edge and forward thinking
security solutions coming onto the market today. The program is
specifically designed to honor distinguished government and vendor
solutions that deliver enhanced value, benefit, and intelligence to
end users in a variety of homeland security, government, and public
safety vertical markets.
"We are thrilled that the HEXWAVE technology is getting
recognition in the industry, and we were honored to attend the
awards ceremony amongst the industry's best innovators, law
enforcement, and homeland security agencies, " said Bill Frain, CEO of Liberty Defense.
HEXWAVE walkthrough screening system can automatically detect
hidden weapons and other potential threats, including both metal
and non-metal items such as 3D-printed ghost guns and improvised
liquid, powder, or plastic explosives. HEXWAVE leverages
technologies such as millimeter wave, video-rate 3D imaging, and
Artificial Intelligence to detect potential threats, and provides
security operators with a real-time, automatic go/no-go
decision.
In other news, Liberty's Chairman and CEO have purchased 800,000
shares collectively in the latest financing, investing further to
show their support for the future growth of the Company.
On October 27, 2022, the Company
completed a private placement of 475,000 units (the "Units") issued
at the price of $0.275 per Unit.
Bill Frain, the Company's Chief
Executive Officer, subscribed for 400,000 Units for an aggregate
purchase price of $110,000. Mr.
Frain is a "related party" of the Company. The Company is subject
to TSXV Policy 5.9, which incorporates Multilateral Instrument
61-101 – Protection of Minority Security Holders in Special
Transactions ("MI 61-101"). Subject to certain exemptions, MI
61-101 requires the Company to obtain minority shareholder approval
and obtain a valuation for transactions with related parties. The
Company is relying on the exemption from the valuation and minority
shareholder approval requirements provided for under Sections
5.5(a) and 5.7(1)(a) of MI 61-101, respectively, for transactions
with a fair market value of less than 25% of the Company market
capitalization.
For updates and news, please visit the Company website to
subscribe to email alerts or follow Liberty Defense on social
channels.
On Behalf of Liberty Defense
Bill Frain
CEO & Director
About Liberty Defense
Liberty Defense (TSXV: SCAN, OTCQB:
LDDFF, FRANKFURT: LD2A)
provides multi-technology security solutions for concealed weapons
detection in high volume foot traffic areas and locations requiring
enhanced security such as airports, stadiums, schools, and more.
Liberty's HEXWAVE product, for which the company has secured an
exclusive license from Massachusetts Institute
of Technology (MIT), as well as
a technology transfer agreement for patents related to active 3D
radar imaging technology, provides discrete, modular, and scalable
protection to provide layered, stand-off detection capability of
metallic and non-metallic weapons. Liberty has also recently
licensed the millimeter wave-based, High-Definition Advanced
Imaging Technology (HD-AIT) body scanner and shoe scanner
technologies as part of its technology portfolio. Liberty is
committed to protecting communities and preserving peace of mind
through superior security detection solutions. Learn more:
LibertyDefense.com
FORWARD-LOOKING STATEMENTS
When used in this press release, the words "estimate",
"project", "belief", "anticipate", "intend", "expect", "plan",
"predict", "may" or "should" and the negative of these words or
such variations thereon or comparable terminology are intended to
identify forward-looking statements and information. Although
Liberty believes, in light of the experience of their respective
officers and directors, current conditions and expected future
developments and other factors that have been considered
appropriate, that the expectations reflected in the forward-looking
statements and information in this press release are reasonable,
undue reliance should not be placed on them because the parties can
give no assurance that such statements will prove to be correct.
Such statements and information reflect the current view of
Liberty. There are risks and uncertainties that may cause actual
results to differ materially from those contemplated in those
forward-looking statements and information.
By their nature, forward-looking statements involve known and
unknown risks, uncertainties and other factors which may cause our
actual results, performance or achievements, or other future
events, to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements. There are a number of important factors
that could cause Liberty's actual results to differ materially from
those indicated or implied by forward-looking statements and
information. Such factors include, among others: currency
fluctuations; limited business history of the parties; disruptions
or changes in the credit or security markets; results of operation
activities and development of projects; project cost overruns or
unanticipated costs and expenses; and general development, market
and industry conditions. The parties undertake no obligation to
comment on analyses, expectations or statements made by third
parties in respect of their securities or their respective
financial or operating results (as applicable).
Liberty cautions that the foregoing list of material factors
is not exhaustive. When relying on Liberty's forward-looking
statements and information to make decisions, investors and others
should carefully consider the foregoing factors and other
uncertainties and potential events. Liberty has assumed that the
material factors referred to in the previous paragraph will not
cause such forward-looking statements and information to differ
materially from actual results or events. However, the list of
these factors is not exhaustive and is subject to change and there
can be no assurance that such assumptions will reflect the actual
outcome of such items or factors. The forward-looking information
contained in this press release represents the expectations of
Liberty as of the date of this press release and, accordingly, are
subject to change after such date. Liberty does not undertake to
update this information at any particular time except as required
in accordance with applicable laws.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this press release.
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SOURCE Liberty Defense Holdings Ltd.