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WILMINGTON, MA, April 28, 2022 /CNW/ - April 28, 2022 - Liberty Defense Holdings Ltd. ("Liberty" or the "Company") (TSXV: SCAN) (OTCQB: LDDFF) (FRANKFURT: LD2), a leading technology provider of threat detection solutions for concealed weapons, is pleased to announce that it will be attending industry leading events in June and July of this year in order to showcase its HEXWAVE(TM) walkthrough security detection technology to potential customers in target verticals including airports and sporting venues.
Liberty will be exhibiting at the American Association of Airport Executives Annual Conference, an event that attracts executives from leading airports around the globe. Liberty will engage in discussions with key opinion leaders on the use of HEXWAVE outside the passenger security checkpoint at airports to create a layered defense in locations such as public and employee entrances. Liberty has been working with the TSA following a previously awarded contract for demonstration and evaluation of HEXWAVE and its enhanced detection and throughput performance for screening aviation workers at US airports.
The Company will also exhibit at the National Sports Safety and Security Conference and the International Association of Venue Managers to further discussions with key sports and entertainment venue executives. Liberty's people screening technology can detect beyond what today's metal detectors can achieve by also screening for non-metallic threats such as 3D printed "ghost" guns, as well as plastic or liquid explosives. The system uses millimeter wave, 3D imaging, and artificial intelligence to provide automated go/no-go decisions to security operators.
"We see the HEXWAVE being deployed in airports, stadiums, arenas, and other types of venues where safety, security, and customer experience are equally paramount," said Liberty Defense CEO, Bill Frain. "We know from our conversations with the biggest names in sports and entertainment who are approaching us with interest, that they have a need to keep ahead of the threats out there. They are looking for a high throughput security solution like HEXWAVE that can process people quickly without having to divest jackets, keys, wallets, phones, and other common items."
In other news, pursuant to the Company's omnibus long-term incentive plan, the Company granted on April 26, 2022 a total of 1,915,000 stock options ("Options") and 800,000 restricted share units ("RSUs") to directors, officers, employees and consultants of the Company.
Each Option is exercisable for one common share of the Company at an exercise price of $0.41 per share. All Options vest at 12.5% after three months from the grant date, and 12.5% every three months thereafter, expiring on April 26, 2027. All RSUs vest at 100% after 24 months from the date of grant, expiring on April 26, 2027. All Options and RSUs are subject to the terms of the Company's omnibus long-term incentive plan and applicable securities law hold periods.
The purpose of the omnibus long-term 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. Disclosure documents concerning the equity incentive plan are available online at www.sedar.com.
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
CEO & Director
About Liberty Defense
Liberty Defense (TSXV: SCAN, OTCQB: LDDFF, FRANKFURT: LD2) 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
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. The forward-looking statements and information in this press release include, amongst others, information relating to the business objectives of Liberty. 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.
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.
SOURCE Liberty Defense Holdings Ltd.
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