Apr 9, 2019
Liberty Defense Commences Trading on the TSX Venture Exchange under the symbol “SCAN”
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Vancouver, BC – April 9, 2019 – Following the completion of a reverse take-over transaction, Liberty Defense Holdings, Ltd. (“Liberty“), a security solutions and technology company for concealed weapons detection, is pleased to announce that the common shares in the capital of the Company have commenced trading on the TSX Venture Exchange under the symbol “SCAN”.
“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 license 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 4,680,000 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% 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.
Listing and disclosure documents concerning the equity incentive plan are available online at www.sedar.com.
On Behalf of Liberty Defense
CEO & Director
About Liberty Defense
Liberty provides security solutions for concealed weapon detection in high volume foot traffic areas and has secured an exclusive license from MIT Lincoln Laboratory, as well as a technology transfer agreement, for patents related to active 3D imaging technology that are packaged into the HEXWAVE product. The system is designed to provide discrete, modular and scalable protection to provide layered, stand-off detection capability. This is intended to provide a means to proactively counter evolving urban threats. The sensors with active 3D imaging and AI-enhanced automatic detection are designed to detect metallic and non-metallic firearms, knives, explosives and other threats. Liberty is committed to protecting communities and preserving peace of mind through superior security detection solutions. Learn more: libertydefense.com
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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 information relating to trading on the TSXV.. 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. Such factors include, among others, the following risks: (a) there is no assurance that Liberty will continue trading on the TSXV. 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 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.
All amounts referred to herein are in Canadian dollars unless otherwise indicated.
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.