Mr. Bill Frain reports
LIBERTY GRANTS COMPENSATION AWARDS
Pursuant to its omnibus long-term incentive plan, Liberty Defense Holdings Ltd. has granted a total of 2,195,000 stock options and one million restricted share units to directors, officers, employees and consultants of the company.
Bill Frain, Liberty's chief executive officer, stated: "Liberty is currently in a growth stage and is hiring key employees in all branches of the company. The purpose of these awards is to help Liberty recruit the best and the brightest to join our team."
Each option is exercisable for one common share of the company at an exercise price of 50 cents per share. The options vest at 25 per cent after six months from the grant date and 25 per cent every six months thereafter, expiring on April 7, 2026. Seven hundred fifty thousand RSUs vest at 100 per cent after 36 months from the date of grant, expiring on April 7, 2026. Two hundred fifty thousand RSUs vest at 100 per cent after 24 months from the date of grant, expiring on April 7, 2026. 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 on-line at SEDAR.
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. 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 3-D radar imaging and artificial-intelligence-enhanced automatic detection are designed to detect metal and non-metal firearms, knives, explosives and other threats. Liberty is committed to protecting communities and preserving peace of mind through superior security detection solutions.
We seek Safe Harbor.
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