00:14:58 EDT Sat 24 Aug 2019
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Liberty Defense Holdings Ltd
Symbol C : SCAN
Shares Issued 66,549,721
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Liberty Defense begins trading on TSX-V

2019-04-09 09:25 ET - News Release

Mr. Adam Ross reports


Liberty Defense Holdings Ltd. has commenced trading its common shares in the capital of the company on the TSX Venture Exchange under the symbol SCAN, following the completion of a reverse takeover transaction.

"We are delighted to be able to commence trading on the TSX Venture under the symbol SCAN. The completion of the recent reverse takeover and associated financing means that we are well placed to be able to achieve our business objectives in 2019," said Liberty's chief executive officer, Bill Riker. "We are already having exceptional interest in our Hexwave product and look forward to demonstrating this over the coming months. The technology behind Hexwave is under an exclusive licence with MIT and a technology transfer agreement with MIT Lincoln Laboratory. Our mission is to protect communities and preserve peace of mind through superior detection solutions and we believe we have the management team, product and technology to deliver upon this."

Liberty further announces the granting of 4.68 million options to acquire common shares to certain directors, officers, employees and consultants of the company pursuant to a long-term equity incentive plan, with 700,000 options having been granted to consultants, providing certain investor relations and marketing services. Each option will allow its holders to receive one common share, provided that the number of common shares reserved for issuance under the equity incentive plan does not exceed 10 per cent of the issued and outstanding common shares from time to time. The purpose of the equity incentive plan is to promote greater alignment of interests between employees and shareholders and to support the achievement of the company's longer-term performance objectives, while providing a long-term retention element.

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 MIT Lincoln Laboratory, as well as a technology transfer agreement, for patents related to active three-dimensional imaging technology that are packaged into the Hexwave product. The system is designed to provide discrete, modular and scalable protection to provide layered, standoff detection capability. This is intended to provide a means to pro-actively counter evolving urban threats. The sensors with active three-dimensional imaging and AI-enhanced (artificial intelligence-enhanced) automatic detection are designed to detect metallic and non-metallic firearms, knives, explosives and other threats.

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