WILMINGTON, Mass., Aug. 13,
2024 /CNW/ - Liberty Defense Holdings Ltd.
("Liberty" or the
"Company") (TSXV: SCAN) (OTCQB: LDDFF) (FRANKFURT: LD2A), a
leading technology provider of AI-based next generation detection
solutions for concealed weapons and threats, is pleased to announce
that its HEXWAVE systems were delivered to Linev Systems US for
deployment at correctional facilities throughout the state of
Texas. This is in support of the
purchase of 20 HEXWAVE's by the Texas Department of Criminal
Justice (TDCJ). The HEXWAVE units will be deployed at the screening
entrances to improve contraband detection capabilities such as
weapons, cell phones and drugs while increasing search capacity and
consistency.
The selection of Liberty Defense's HEXWAVE technology reaffirms
TDCJ's commitment to securing their facilities with a modern-day
security approach, ensuring minimized entry wait times and enabling
the most secure and safe access for all entering the
facilities.
The TDCJ is responsible for the supervision of approximately
155,000 incarcerated inmates. The Texas Department of Corrections
contains 51 state prisons along with several other facilities for
inmates. Their mission is to provide public safety, promote
positive change in inmate behavior, reintegrate inmates into
society and assist victims of crime.
HEXWAVE uses millimeter wave, advanced 3D imaging and AI to
detect concealed metallic and non-metallic threats and other
prohibited items. The system allows for rapid, automated screening
using a high-throughput, contactless, walkthrough portal to detect
liquid, powder and plastic explosives, 3D printed ghost guns and
other contraband that enhanced metal detectors on the market do not
detect.
In other news, Liberty is
pleased to announce that it has filed a prospectus supplement dated
August 8, 2024 (the "Prospectus
Supplement") to its short form base shelf prospectus dated
October 13, 2022 (the "Shelf
Prospectus") to qualify the distribution of securities underlying
4,650,333 special warrants (the "Special Warrants") issued by the
Company on June 27, 2024 (the
"Offering").
The Prospectus Supplement qualifies the distribution of
4,650,333 common shares (each a "Common Share") and 4,650,333
Common Share purchase warrants (each a "Warrant") comprising the
units of the Company issuable on the exercise or deemed exercise of
the Special Warrants in the Provinces of British Columbia and Alberta. Each Warrant entitles the holder
thereof to acquire one Common Share at an exercise price of
$0.20 until the date that is three
years following the date of issuance of the Warrants.
The Special Warrants will be deemed converted into Common Shares
and Warrants on August 13, 2024. No
action is required on the part of any holder of Special Warrants to
convert their Special Warrants into underlying securities.
The qualification rights of holders of Special Warrants are
further described in the Prospectus Supplement and the Shelf
Prospectus, which can be found under the Company's profile on
SEDAR+ at www.sedarplus.ca.
Access to the Shelf Prospectus and the Prospectus Supplement,
and any amendment to the documents, is provided in accordance with
securities legislation relating to procedures for providing access
to a shelf prospectus supplement, a base shelf prospectus and any
amendment. The Shelf Prospectus and the Prospectus Supplement are
accessible on SEDAR+ at www.sedarplus.ca. An electronic or paper
copy of the Prospectus Supplement, the corresponding Shelf
Prospectus and any amendment to the documents may be obtained,
without charge, from the Company at 187 Ballardvale St., Suite 110,
Wilmington, MA 01887, or by email
at info@libertydefense.com and by providing the contact with
an email address or address, as applicable.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy any securities in the United States. The securities described
herein have not been and will not be registered under the United
States Securities Act of 1933, as amended (the "U.S. Securities
Act") or any state securities laws and may not be offered or sold
within the United States or to
U.S. Persons unless registered under the U.S. Securities Act and
applicable state securities laws or an exemption from such
registration is available. This press release is not for
distribution to U.S. newswire services nor for dissemination in
the United States. Any failure to
comply with this restriction may constitute a violation of U.S.
securities laws.
For updates and news, please visit
www.libertydefense.com 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.
SOURCE Liberty Defense Holdings, Ltd.