ATLANTA, July 29, 2021 /PRNewswire/ - Liberty Defense Holdings Ltd. ("Liberty" or the "Company") (TSXV: SCAN), (OTCQB: LDDFF), (Frankfurt: LD2), a leading concealed weapons and threat detection solutions company, is pleased to announce that it has leased 6,000 square feet of new office and engineering lab space to support the Company's growing needs.
The new office is located in Wilmington, Massachusetts, a short distance from Boston, and will serve as Liberty Defense's headquarters effective September 2021. The engineering team in Atlanta will continue the development of the HEXWAVE product at the Company's established Center of Excellence location. The Boston-area office will include space dedicated to product development of new and emerging technologies that the Company is developing.
"This coming year will be a pivotal time for Liberty, as we have begun ramping up to support HEXWAVE beta deployment and future commercial growth. We needed this additional space to expand and diversify our product development portfolio," said Liberty Defense CEO Bill Frain. "The Greater Boston area has been an industry hub where leading security companies are located and is a fantastic location base where we can draw talented engineers and business personnel."
The Company has acquired the new space for six years, with the option to expand the adjacent space to allow for future needs.
In addition, Liberty will be presenting a Zoom webinar with LD Micro today, Thursday, July 29 at 11 a.m. Eastern Time. Participants can access the presentation at this link:
Pursuant to its omnibus long-term incentive plan, and subject to regulatory approval, Liberty has granted a total of 240,000 stock options (the "Options") and to certain directors, employees, and consultants of the Company. 125,000 Options are exercisable for one common share in the capital of the Company (a "Share") at an exercise price of $0.55 per Share. 115,000 Options are exercisable for one Share at an exercise price of $0.65 per Share. 12.5% of the Options will vest on October 28, 2021 and an additional 12.5% will vest every three months thereafter. The Options will expire on July 28, 2026. All Options are subject to the terms of the Company's omnibus long-term incentive plan and applicable securities law hold periods.
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. 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.
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SOURCE Liberty Defense Holdings Ltd.