ATLANTA, July 29, 2021 /CNW/ - 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:
https://us02web.zoom.us/webinar/register/WN_rhE9wfrnSYWxSH5ehI_2Sg
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
Bill Frain
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
FORWARD-LOOKING STATEMENTS
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.