Liberty Defense Secures Funding to Enhance Safety Solutions

Liberty Defense Closes Public Offering for Enhanced Security

Vancouver, British Columbia and Wilmington, Mass. – Liberty Defense Holdings Ltd. (TSXV: SCAN, OTCQB: LDDFF, Frankfurt: LD2A), a prominent provider of AI-driven detection solutions for concealed weapons and threats, has successfully concluded its overnight marketed public offering. This offering comprised 3,031,000 units at a price of $1.65 each, resulting in total gross proceeds of $5,001,150. Canaccord Genuity Corp. served as the underwriter for this offering.

Details of the Offering

Each unit offered in this financing included one common share of the company, alongside half of a share purchase warrant. When fully realized, these warrants will grant holders the ability to acquire additional shares at an exercise price of $2.05 per share, valid until March 20, 2027. The capital raised from this endeavor is pivotal for Liberty as it seeks to bolster its operational prowess.

Plans for Proceeds Utilization

The funds from the offering are earmarked for various strategic purposes. These include business development initiatives, an expansion of marketing efforts, enhancements in manufacturing processes, supply chain optimization, and investments in ongoing research and product innovation. Additionally, the proceeds will support general and administrative costs.

CEO Insights

Bill Frain, CEO of Liberty, expressed gratitude toward investors for their support during this financing round. He noted an uptick in interest and activity regarding Liberty's advanced technology solutions. Frain emphasized that this funding would facilitate the company's growth trajectory in the upcoming periods.

Regulatory Approvals and Underwriting Details

The successful closing of this offering is subject to the final endorsement of the TSX Venture Exchange, which has conditionally accepted the deal. Furthermore, the underwriting agreement provided the underwriter a cash commission of $300,069, alongside a cash corporate finance fee of $50,011.50. In addition to cash fees, the underwriter received 181,860 compensation warrants and 30,310 corporate finance fee warrants, both convertible into shares at an exercise price of C$1.65 each, also valid until March 20, 2027.

About Liberty Defense Holdings

Liberty Defense is dedicated to addressing security challenges in high-traffic areas susceptible to concealed weapons threats, such as schools, airports, and stadiums. Their flagship HEXWAVE product, developed through a unique licensing agreement with the Massachusetts Institute of Technology (MIT), leverages cutting-edge 3D radar imaging technology to offer discreet and modular capabilities for detecting both metallic and non-metallic weapons.

Innovations in Security Technology

In addition to HEXWAVE, Liberty has recently integrated advanced imaging technologies into its portfolio, such as the High-Definition Advanced Imaging Technology (HD-AIT) for body scanning and shoe scanning systems. By continually enhancing these solutions, Liberty aims to foster safer environments and peace of mind for communities everywhere.

Contact Information for Liberty Defense

For more information about Liberty and its innovative technologies, please reach out to:

Jay Adelaar, Senior Vice President of Capital Markets
Email: jay@libertydefense.com
Tel: 604-809-2500

Frequently Asked Questions

What is the purpose of the recent public offering by Liberty Defense?

The offering aims to raise funds for business development, marketing expansion, and product innovation.

What components are included in each unit offered?

Each unit consists of one common share and half of a share purchase warrant, enabling future share acquisitions.

How much capital did Liberty Defense raise from this offering?

Liberty Defense raised gross proceeds of $5,001,150 from the offering.

Who was the underwriter for the public offering?

Canaccord Genuity Corp. acted as the underwriter for this public offering.

What innovative technologies does Liberty Defense provide?

Liberty Defense specializes in security detection solutions, such as HEXWAVE and advanced imaging technologies for concealed weapons detection.

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