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VirTra Receives Follow On Order from Canada Under Standing Offer

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VirTra, a global provider of judgmental use of force training simulators, announced a CAD$1.2 million (USD$0.9 million) order from a Canadian law enforcement agency. This order is part of a standing offer with the Government of Canada, aimed at supplying simulation technology to law enforcement facilities. The order includes V-100 and V-180 simulators, alongside training for system operation. Delivery is scheduled by February 2023. VirTra aims to enhance its market presence outside the U.S., continuing its mission to provide effective training solutions.

Positive
  • Received a CAD$1.2 million order from a Canadian law enforcement agency.
  • Order includes advanced training simulators and additional support tools.
  • Strengthens VirTra's market position in Canada and diversifies revenue sources.
Negative
  • None.

CHANDLER, Ariz., Aug. 18, 2022 (GLOBE NEWSWIRE) -- VirTra, Inc. (NASDAQ: VTSI) (“VirTra”), a global provider of judgmental use of force training simulators, and firearms training simulators for the law enforcement and military markets, has received an order worth CAD$1.2 million (Approximately USD$0.9 million) from a Canadian law enforcement agency. This order utilized the previously announced standing offer from the Government of Canada to supply marksmanship and judgmental use of force simulation technology to various law enforcement facilities.

As part of the order, the agency will receive multiple V-100® and V-180® simulators and associated tools and accessories designed for simulator training, including drop-in recoil kits and V-Author® scenario authoring software. Part of the order will also include hands-on training for system and hardware operation.

“Our standing offer with the Government of Canada is expected to be a solid source of orders for VirTra as we further penetrate markets outside of the United States,” said Jason Mulcahy, VirTra’s General Manager. “We continue to deliver on our goal of providing the most effective training solutions in the world to first responders all across Canada.”

All services and products ordered by the Canadian agency will be delivered before the end of February 2023 as per the contract. The standing offer, solely awarded to VirTra, makes the buying process more efficient for all federal, provincial, and municipal law enforcement agencies in Canada to obtain standardized training simulators in a streamlined process.

About VirTra
VirTra (NASDAQ: VTSI) is a global provider of judgmental use of force training simulators and firearms training simulators for the law enforcement, military, educational and commercial markets. The company’s patented technologies, software, and scenarios provide intense training for de-escalation, judgmental use-of-force, marksmanship, and related training that mimics real-world situations. VirTra’s mission is to save and improve lives worldwide through practical and highly effective virtual reality and simulator technology. Learn more about the company at www.VirTra.com.

Forward-Looking Statements
The information in this discussion contains forward-looking statements and information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to the “safe harbor” created by those sections. The words “anticipates,” “believes,” “estimates,” “expects,” “intends,” “may,” “plans,” “projects,” “will,” “should,” “could,” “predicts,” “potential,” “continue,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements that we make. The forward-looking statements are applicable only as of the date on which they are made, and we do not assume any obligation to update any forward-looking statements. All forward-looking statements in this document are made based on our current expectations, forecasts, estimates and assumptions, and involve risks, uncertainties and other factors that could cause results or events to differ materially from those expressed in the forward-looking statements. In evaluating these statements, you should specifically consider various factors, uncertainties and risks that could affect our future results or operations. These factors, uncertainties and risks may cause our actual results to differ materially from any forward-looking statement set forth in the reports we file with or furnish to the Securities and Exchange Commission (the “SEC”). You should carefully consider these risk and uncertainties described and other information contained in the reports we file with or furnish to the SEC before making any investment decision with respect to our securities. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by this cautionary statement.

Investor Relations Contact:
Matt Glover and Jeff Grampp, CFA
Gateway Group, Inc.
VTSI@gatewayir.com
949-574-3860

 


FAQ

What is the CAD$1.2 million order for VirTra (VTSI)?

The order involves judgmental use of force training simulators for a Canadian law enforcement agency.

When will VirTra (VTSI) deliver the products from the Canadian law enforcement agency order?

All services and products will be delivered by the end of February 2023.

How does VirTra (VTSI) benefit from the standing offer with the Government of Canada?

The standing offer streamlines the purchasing process for Canadian law enforcement agencies, potentially leading to more orders.

What simulators are included in VirTra's (VTSI) recent order from Canada?

The order includes multiple V-100 and V-180 simulators.

Who is the General Manager of VirTra (VTSI) and what did they say about the order?

Jason Mulcahy, General Manager, stated the standing offer will be a solid source of orders as they expand in Canada.

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