14:40:56 EDT Fri 14 Jun 2024
Enter Symbol
or Name

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Liberty Defense Holdings Ltd (2)
Symbol SCAN
Shares Issued 151,328,765
Close 2024-02-06 C$ 0.125
Market Cap C$ 18,916,096
Recent Sedar Documents

Liberty Defense closes $150K final tranche of financing

2024-02-07 10:27 ET - News Release

Mr. Bill Frain reports


Liberty Defense Holdings Ltd. has closed the final tranche of a non-brokered private placement of one million units of the company at a price of 15 cents per unit for gross proceeds to the company of $150,000, which was previously announced on Dec. 29, 2023. With the closing of this latest tranche this brings the total raised to $1,036,000 with the issuance of 6,900,663 units.

Each unit consists of one common share in the capital of the company and one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one common share of the company until Jan. 12, 2027, at an exercise price of 20 cents per warrant share.

The offering was completed pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 -- Prospectus Exemptions; accordingly, the securities issued in the Offering are not subject to a hold period in accordance with applicable Canadian securities laws. There is an offering document related to the offering that can be accessed under the company's profile on SEDAR+ and on the company's website. Prospective investors should read this offering document before making an investment decision.

The company plans to use the proceeds of this financing to further the production of Hexwave technology to support the increase in demand for the product and deliver units in backlog to customers.

About Liberty Defense Holdings Ltd.

Liberty provides multitechnology 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 licence from Massachusetts Institute of Technology (MIT), as well as a technology transfer agreement for patents related to active 3-D radar imaging technology, provides discreet, modular and scalable protection to provide layered, standoff detection capability of metallic and non-metallic weapons. Liberty has also recently licensed the millimetre-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.

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