Liberty Defense Receives Purchase Order from Rapiscan Systems and Signs Distribution Agreement for Expanded Reach to International Markets

Rhea-AI Summary

Liberty Defense Holdings Ltd. (SCAN) to exclusively sell 20 HEXWAVE systems to Rapiscan Systems for international security and aviation markets. The agreement expands Liberty's reach to Europe, the Middle East, Africa, and the Asia/Pacific region, including Australasia, with Rapiscan initially purchasing 20 systems and committing to adding HEXWAVE to its security product and services portfolio.

• Rapiscan Systems to purchase multiple HEXWAVE systems (20 units)
• Rapiscan Systems will exclusively sell Liberty's next generation threat detection HEXWAVE system to the international security and aviation markets

WILMINGTON, Mass., Nov. 8, 2023 /PRNewswire/ - Liberty Defense Holdings Ltd. ("Liberty" or the "Company") (TSXV: SCAN) (OTCQB: LDDFF) (FRANKFURT: LD2A), a leading technology provider of Artificial Intelligence (AI) based next generation detection solutions for protecting secure locations against prohibited weapons and other threats, is pleased to announce that it has entered into an exclusive distribution agreement with Rapiscan Systems (Rapiscan) to sell and service HEXWAVE™ internationally in security and aviation markets. Rapiscan has initially agreed to purchase 20 HEXWAVE systems to satisfy first sales, with Liberty to deliver five HEXWAVE systems before the end of 2023 to meet initial demand.

As part of the distribution agreement, Rapiscan will add the HEXWAVE walkthrough people screening system, which uses artificial intelligence and machine learning to seamlessly detect weapons and other threats in real-time, to its security product and services portfolio. The Rapiscan agreement expands Liberty's international reach to include market penetration of HEXWAVE in Europe, the Middle East, Africa, and the Asia/Pacific region, including Australasia.

"After evaluating the technology, we look forward to adding Liberty Defense's HEXWAVE to our product portfolio to provide turnkey security solutions to our growing customer base internationally," said Ted Alston, President of Rapiscan Detection. "Our focus at Rapiscan is to meet demanding security requirements while offering customers outstanding value for their security screening operations, and we are delighted to have the HEXWAVE's unique detection application to now sell to our customers."

Rapiscan is the world's leading global supplier of screening solutions that help governments, including customs & border as well as defense organizations, and private industry customers combat terrorism, drug and weapons smuggling, human trafficking, and trade fraud with speed and confidence while maximizing operational efficiency and meeting the most stringent security standards. Its worldwide service network provides support globally, ensuring that systems are maintained and serviced in a timely and effective manner.

"We are thrilled to join forces with Rapiscan, a worldwide leader in the security industry, and look forward to expanding the reach of HEXWAVE internationally," said Bill Frain, CEO of Liberty Defense. "Over the past several months, we have seen demand increase significantly for HEXWAVE for enhanced screening at checkpoint applications, and it was important for Liberty to enter into this significant agreement with Rapiscan to meet that demand."

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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

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.

FAQ

What is the exclusive distribution agreement between Liberty Defense and Rapiscan Systems about?

The agreement is for Rapiscan Systems to exclusively sell and service HEXWAVE internationally in security and aviation markets.

How many HEXWAVE systems will Rapiscan Systems initially purchase?

Rapiscan Systems has initially agreed to purchase 20 HEXWAVE systems.

What regions will the agreement with Rapiscan Systems allow Liberty Defense to reach?

The agreement expands Liberty's international reach to include market penetration of HEXWAVE in Europe, the Middle East, Africa, and the Asia/Pacific region, including Australasia.

What are the features of the HEXWAVE system?

HEXWAVE is a walkthrough people screening system that uses artificial intelligence and machine learning to seamlessly detect weapons and other threats in real-time.