WILMINGTON, Mass., Aug. 13, 2024 /CNW/ - Liberty Defense Holdings Ltd. ("Liberty" or the "Company") (TSXV: SCAN) (OTCQB: LDDFF) (FRANKFURT: LD2A), a leading technology provider of AI-based next generation detection solutions for concealed weapons and threats, is pleased to announce that its HEXWAVE systems were delivered to Linev Systems US for deployment at correctional facilities throughout the state of Texas. This is in support of the purchase of 20 HEXWAVE's by the Texas Department of Criminal Justice (TDCJ). The HEXWAVE units will be deployed at the screening entrances to improve contraband detection capabilities such as weapons, cell phones and drugs while increasing search capacity and consistency.
The selection of Liberty Defense's HEXWAVE technology reaffirms TDCJ's commitment to securing their facilities with a modern-day security approach, ensuring minimized entry wait times and enabling the most secure and safe access for all entering the facilities.
The TDCJ is responsible for the supervision of approximately 155,000 incarcerated inmates. The Texas Department of Corrections contains 51 state prisons along with several other facilities for inmates. Their mission is to provide public safety, promote positive change in inmate behavior, reintegrate inmates into society and assist victims of crime.
HEXWAVE uses millimeter wave, advanced 3D imaging and AI to detect concealed metallic and non-metallic threats and other prohibited items. The system allows for rapid, automated screening using a high-throughput, contactless, walkthrough portal to detect liquid, powder and plastic explosives, 3D printed ghost guns and other contraband that enhanced metal detectors on the market do not detect.
In other news, Liberty is pleased to announce that it has filed a prospectus supplement dated August 8, 2024 (the "Prospectus Supplement") to its short form base shelf prospectus dated October 13, 2022 (the "Shelf Prospectus") to qualify the distribution of securities underlying 4,650,333 special warrants (the "Special Warrants") issued by the Company on June 27, 2024 (the "Offering").
The Prospectus Supplement qualifies the distribution of 4,650,333 common shares (each a "Common Share") and 4,650,333 Common Share purchase warrants (each a "Warrant") comprising the units of the Company issuable on the exercise or deemed exercise of the Special Warrants in the Provinces of British Columbia and Alberta. Each Warrant entitles the holder thereof to acquire one Common Share at an exercise price of $0.20 until the date that is three years following the date of issuance of the Warrants.
The Special Warrants will be deemed converted into Common Shares and Warrants on August 13, 2024. No action is required on the part of any holder of Special Warrants to convert their Special Warrants into underlying securities.
The qualification rights of holders of Special Warrants are further described in the Prospectus Supplement and the Shelf Prospectus, which can be found under the Company's profile on SEDAR+ at www.sedarplus.ca.
Access to the Shelf Prospectus and the Prospectus Supplement, and any amendment to the documents, is provided in accordance with securities legislation relating to procedures for providing access to a shelf prospectus supplement, a base shelf prospectus and any amendment. The Shelf Prospectus and the Prospectus Supplement are accessible on SEDAR+ at www.sedarplus.ca. An electronic or paper copy of the Prospectus Supplement, the corresponding Shelf Prospectus and any amendment to the documents may be obtained, without charge, from the Company at 187 Ballardvale St., Suite 110, Wilmington, MA 01887, or by email at info@libertydefense.com and by providing the contact with an email address or address, as applicable.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. This press release is not for distribution to U.S. newswire services nor for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. securities laws.
For updates and news, please visit www.libertydefense.com to subscribe to email alerts or follow Liberty Defense on social channels.
On Behalf of Liberty Defense
Bill Frain
CEO & Director
About Liberty Defense
Liberty Defense (TSXV: SCAN, OTCQB: LDDFF, FRANKFURT: LD2A) 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
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.
SOURCE Liberty Defense Holdings, Ltd.
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Contact:
For further information about Liberty, please contact: Jay Adelaar, Senior Vice President of Capital Markets, Liberty Defense, 604-809-2500, jay@libertydefense.com