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VANCOUVER, Nov. 26, 2019 /CNW/ -
Receipt for Final Prospectus and Conditional Approval for Listing on CSE
First Responder Technologies Inc. ("First Responder" or the "Company"), a developer of technologies to detect and deter public attacks involving concealed weapons, is pleased to announce that it has filed and obtained a receipt for its final long form prospectus dated November 14, 2019 (the "Prospectus") from the securities regulatory authorities in British Columbia, Alberta and Ontario. The Prospectus qualifies the Company's Initial Public Offering and the distribution of a minimum of 10,000,000 units of the Company (each, a "Unit") and a maximum of 20,000,000 Units (the "Offering"), at a price of $0.35 per Unit. Each Unit consists of one common share (each, a "Common Share") one-half of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant is exercisable at a price of $0.50 per Common Share for a period of 24 months from the closing date of the Offering. The Units are being offered for sale by PI Financial Corp. as agent and sole bookrunner (the "Agent") on a best efforts basis pursuant to an agency agreement among the Company and the Agent dated November 14, 2019.
In connection with the Offering, the Company has received conditional approval from the Canadian Securities Exchange ("CSE") for the listing of the Common Shares, subject to the completion of customary requirements of the CSE, including the receipt of all required final documentation and the closing of the Offering. Once final approval is received, the Common Shares will commence trading under the symbol "WPN". There can be no guarantee that the CSE will accept the listing of the Company's common shares.
A copy of the Prospectus is available on SEDAR at www.sedar.com.
Market Development Activities: Milipol and International Security Exposition
The Company is pleased to announce that senior members of the First Responder's management team attended Milipol, a homeland security and public safety tradeshow and conference, in Paris, France from November 19-22, 2019. The Company hosted a booth and received significant commercial interest in the Company's WiFi-based weapons detection technology from the global audience in attendance.
The Company is scheduled to attend International Security Exposition ("ISE"), a homeland security and public safety tradeshow and conference in London, UK from December 3-4, 2019. The Company plans to demonstrate an initial proof of concept of a WiFi-based detection technology solution at ISE. More than 15,000 exhibitors, speakers and attendees are registered to participate at ISE.
For clarity, the tradeshows do not constitute "road shows" under National Instrument 41-101.
No securities regulatory authority has either approved or disapproved of the contents of this news release. The common shares have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States, or to or for the account or benefit of any person in the United States, absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any common shares in the United States, or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.
On behalf of the Board of Directors,
"Robert F. Delamar"
Robert F. Delamar, CEO