Mr. Bill Frain reports

LIBERTY DEFENSE ADDS JASON BURINESCU, A PRIVATE EQUITY AND SENIOR OPERATING EXECUTIVE TO THEIR BOARD OF DIRECTORS AS EXECUTIVE CHAIRMAN

Jason Burinescu has been named as Liberty Defense Holdings Ltd.'s new executive chairman of the board, effective immediately. Daryl Rebeck is stepping down as executive chairman after serving in that capacity for the past four years.

Mr. Burinescu is a managing partner of Vision Equity Partner Solutions, an investment and advisory firm. Before Vision, Mr. Burinescu led business development and served as a senior member of the investment team at Fletch Equity, a Los Angeles-based private equity firm that has completed more than $1-billion in total transaction value. His investment experience is further augmented by his experience as a senior operating executive at a number of firms that he helped scale including SaaS (software-as-a-service) cybersecurity company Vera, which was successfully acquired by Help Systems (private equity backed by TA Associates ($45-billion AUM (assets under management)) and Harvest Partners ($21.5-billion AUM)), and media companies Leftfield Pictures, which was acquired by ITV and Renegade 83, which was acquired by Entertainment One, now part of Lions Gate.

"I'm very excited to partner and work closely with customers, channel partners, the board of directors, Bill and the entire Liberty team on this incredible mission-driven company to protect our society at large. Liberty's executives and engineering team had incredible success as senior executives at L3Harris's security detection and automation business. They were responsible for the design, sales, implementation, service and deployment of approximately 20,000 security systems globally, and their innovations became the standard across United States airports for passenger screening. That division was eventually sold for $1-billion in cash in February, 2020. The company has achieved an incredible amount of momentum in the marketplace serving marquee government agencies around the world and clients including the Transportation Security Agency (TSA), MIT, Los Alamos National Labs, and major airports in the United States and Canada. Scaling this technology is so vital to protect nations, citizens and corporations alike," said Mr. Burinescu. "As I was researching this space, I became truly frightened at how vulnerable the public is by relying on archaic technologies like metal detectors that do nothing to protect against ghost guns, powders, plastic explosives, plastic weapons and other emerging threats. As weaponry evolves and bad actors become more brazen and advanced, we need to leverage Liberty's scanning and artificial intelligence technology to combat these threats in real time. The Liberty Defense team has licensed our base technology stack from MIT Lincoln Laboratories and has spent over $40-million on R&D to create cutting-edge threat detection AI software and equipment for the modern age. Mobile, easy to deploy, efficient in handling large volumes of people and, most importantly, robust in protecting against various weapons and threats including those that evade metal detectors. I am excited to work with the team to make this technology the standard across all airports, stadiums, prisons, company offices and government entities throughout the world and to finally bring true threat protection, safety and peace of mind to people everywhere."

"We are excited to welcome Jason to the team as we move the company forward," said Liberty chief executive officer Bill Frain. "Clearly the horrific events already this year in the U.S. and abroad have heightened the awareness and need for enhanced security. It has been our mission at Liberty to be a part of that security solution and to continue to develop innovative technology. We look forward to having Jason's leadership capability to help support our strategic initiatives moving forward."

Mr. Frain continued: "I want to extend my sincere thanks to Daryl Rebeck for his insightful leadership and valuable contributions in helping to build Liberty Defense over the past four years, which have positioned the company for continued growth. We wish him great success in his future endeavours," added Mr. Frain.

"I am tremendously proud of what the team and Liberty Defense has accomplished in a short period of time advancing this leading-edge multitechnology company, having landed top airports and key strategic partners. The company is well positioned to attack new market verticals. I am honoured to have been part of the strong leadership team and the board and I will remain involved as a loyal long-term shareholder," said Mr. Rebeck.

About Liberty Defense Holdings Ltd.

Liberty Defense provides multitechnology 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 system uses millimeter wave, advanced 3-D imaging and AI technologies that have been secured under exclusive licence and developed proprietarily to automatically detect all types of concealed metallic and non-metallic weapons and other prohibited items. Liberty is also developing the next generation of aviation passenger screening with the millimeter wave-based, high-definition advanced imaging technology (HD-AIT) body 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.

We seek Safe Harbor.