WRAP Publishes Initial Environmental, Social and Governance Letter

Rhea-AI Summary

Wrap Technologies, Inc. (WRAP) released its first Environment, Social and Governance (ESG) letter, highlighting its commitment to ESG initiatives. The letter outlines goals for diversity within the company and reports on past achievements. WRAP's President and CEO, Tom Smith, expressed enthusiasm for integrating ESG into their operations, emphasizing the company's mission to enhance public safety through innovative solutions. The ESG letter is available on their investor page, reflecting WRAP's long-term dedication to community impact and core values.

Positive

• Introduced first ESG letter, showcasing commitment to sustainability.
• Goals for increased diversity in leadership and workforce.
• Demonstrated initiative towards meaningful community impact.

Negative

• None.

TEMPE, Ariz., Aug. 09, 2021 (GLOBE NEWSWIRE) -- Wrap Technologies, Inc. (the "Company" or "WRAP") (Nasdaq: WRAP), a global leader in innovative public safety technologies and services, today published its initial Environment, Social and Governance (ESG) letter to stakeholders. The letter outlines the WRAP’s commitment and initiatives across a diverse range of topics that the Company is currently tracking in its ESG program, including diversity across WRAP’s board, executive management, and employees, as well as goals and objectives for future reports.

“I am excited about WRAP’s commitment to ESG and our desire to incorporate it into everything we do,” said WRAP President and CEO Tom Smith. “WRAP’s core mission and purpose have been to drive public safety towards progress and facilitate better policing outcomes by developing creative solutions to complex issues through forward-thinking, empathy and innovation. This letter provides a comprehensive overview of our ESG accomplishments over the past year. In addition, it outlines our long-term commitment to uphold our core values and ensure that our operations reflect a thoughtful and meaningful impact in the communities we serve.”

The full ESG letter can be found on the investor page of our website here.

About WRAP
WRAP Technologies (Nasdaq: WRAP) is a global leader in innovative public safety technologies and services. WRAP develops creative solutions to complex issues and empowers public safety officials to protect and serve their communities through its portfolio of advanced technology and training solutions. 

WRAP’s BolaWrap® Remote Restraint device is a patented, hand-held pre-escalation and apprehension tool that discharges a Kevlar® tether to temporarily restrain uncooperative suspects and persons in crisis from a distance. Through its many field uses and growing adoption by agencies across the globe, BolaWrap is proving to be an effective tool to help law enforcement safely detain persons without injury or the need to use higher levels of force.

Wrap Reality, the Company’s virtual reality training system, is a fully immersive training simulator and comprehensive public safety training platform providing first responders with the discipline and practice in methods of de-escalation, conflict resolution, and use-of-force to better perform in the field.

WRAP’s headquarters are in Tempe, Arizona. For more information, please visit wrap.com.

Follow WRAP here:
WRAP on Facebook: https://www.facebook.com/wraptechnologies/
WRAP on Twitter: https://twitter.com/wraptechinc
WRAP on LinkedIn: https://www.linkedin.com/company/wraptechnologies/

Trademark Information
BolaWrap, Wrap and Wrap Reality are trademarks of Wrap Technologies, Inc. All other trade names used herein are either trademarks or registered trademarks of the respective holders.

Cautionary Note on Forward-Looking Statements - Safe Harbor Statement
This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to: statements regarding the Company's overall business; total addressable market; and, expectations regarding future sales and expenses. Words such as "expect", "anticipate", "should", "believe", "target", "project", "goals", "estimate", "potential", "predict", "may", "will", "could", "intend", and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Moreover, forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond the Company's control. The Company's actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to: the Company's ability to successfully implement training programs for the use of its products; the Company's ability to manufacture and produce product for its customers; the Company's ability to develop sales for its new product solution; the acceptance of existing and future products; the availability of funding to continue to finance operations; the complexity, expense and time associated with sales to law enforcement and government entities; the lengthy evaluation and sales cycle for the Company's product solution; product defects; litigation risks from alleged product-related injuries; risks of government regulations; the business impact of health crises or outbreaks of disease, such as epidemics or pandemics; the ability to obtain export licenses for countries outside of the US; the ability to obtain patents and defend IP against competitors; the impact of competitive products and solutions; and the Company's ability to maintain and enhance its brand, as well as other risk factors mentioned in the Company's most recent annual report on Form 10-K, quarterly report on Form 10-Q, and other SEC filings. These forward-looking statements are made as of the date of this press release and were based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management. Except as required by law, the Company undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations.

Contact:

Paul M. Manley
VP – Investor Relations
(612) 834-1804
pmanley@wrap.com

Media Contact: media@wrap.com

FAQ

What is the significance of WRAP's first ESG letter?

WRAP's first ESG letter demonstrates its commitment to sustainability and social responsibility, outlining specific diversity goals and past achievements.

When was the ESG letter published by WRAP?

The ESG letter was published on August 9, 2021.

What are the main topics covered in WRAP's ESG letter?

The ESG letter covers topics such as diversity in the workforce and leadership, along with ongoing initiatives and future objectives.

How does WRAP plan to implement its ESG commitments?

WRAP plans to implement its ESG commitments by aligning its operations with core values aimed at enhancing public safety and community engagement.

Where can I find WRAP's full ESG letter?

The full ESG letter can be found on WRAP's investor page of their website.