WILMINGTON, Mass., Aug. 22,
2024 /CNW/ - 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
secured a term loan and revolving credit facility with US
Government funding specialist Parabilis.
Parabilis offers government contract financing solutions,
specializing in providing fast, flexible, and affordable lines
of credit to small and medium-sized contractors. Leveraging
their management team's 100 years of government contracting
executive experience, Parabilis aims to support the growth of
businesses by addressing the common problem of working capital
requirements. Their services enable government contractors to fund
rapid growth, bid with confidence, and protect profits,
empowering them to realize the profitability they have
earned.
- Liberty will leverage purchase orders, government contracts and
accounts receivables from commercial product sales to support
working capital needs
- The agreement provides immediate access to cash flow to support
production of inventory to meet ongoing demand
"This is not just a credit facility as we have gained a true
partner in Parabilis that appreciates the importance of the
technology and will be there to support our growth. This
agreement gives us a source of non-dilutive funding that helps us
advance our commercial efforts, said Bill
Frain, CEO of Liberty Defense. "The ongoing demand we are
seeing for HEXWAVE in the marketplace is driving the need to
manufacture more product and manage our working capital in support
of sales. In addition, this program supports the significant
progress on the commercialization of the High-Definition AIT
upgrade kit which we intend to deploy at airports in 2025."
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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.
SOURCE Liberty Defense Holdings, Ltd.
