Mr. Bill Riker reports

LIBERTY ANNOUNCES PRIVATE PLACEMENT OF UNITS

Liberty Defense Holdings Ltd. has arranged a non-brokered private placement of up to 10.87 million units at a price of 23 cents for aggregate gross proceeds of up to approximately $2.5-million. Liberty will retain the option to increase the offering to 15,217,000 units for gross proceeds of up to approximately $3.5-million.

Each unit will consist of one common share and one common share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share of the company at a price of 30 cents for 18 months following the closing of the offering. The warrants will be subject to an acceleration clause in the event the closing price of Liberty's common shares is greater than 45 cents for 10 consecutive trading days. Liberty will give notice to the holders of the acceleration event and the warrants will expire 30 days thereafter.

In connection with the offering, Liberty has engaged Laurentian Bank Securities Inc. to act as its exclusive financial adviser for the offering. The company may pay finders' fees in accordance with the policies of the TSX Venture Exchange in conjunction with the closing of the offering.

The company intends to use the net proceeds of the offering to provide working capital and continue the advancement of HEXWAVE, specifically the targeted completion of the alpha testing and the production of the initial beta units in Q1 2020.

All securities issued pursuant to the offering will be subject to a statutory hold period expiring four months and one day from closing of the offering. Completion of the offering is subject to approval of the TSX Venture Exchange.

About Liberty Defense Holdings Ltd.

Liberty provides security solutions for concealed weapon detection in high-volume foot traffic areas and has secured an exclusive licence from Massachusetts Institute of Technology (MIT), as well as a technology transfer agreement, for patents related to active 3-D radar imaging technology that are packaged into the HEXWAVE product.

We seek Safe Harbor.