MONTREAL, July 28, 2021 /CNW/ - VOTI Detection Inc.
("VOTI" or the "Company") (TSXV: VOTI), a
leading-edge Canadian technology company that develops
latest-generation X–ray security systems based on 3D Perspective™
technology, today announced its intention to issue 25,425
common shares of the Company (the "Common Shares") at a
deemed price of $0.59 per Common
Share in payment of an aggregate of $15,000 in interest owing on June 30, 2021 on the two 10.0% senior unsecured
convertible debentures of the Company which remain outstanding (the
"Debentures"). Under the terms of the Debentures, the
Company has the option to pay the interest on the Debentures in
either cash or Common Shares on the terms set forth in the
Debentures. The issuance of Common Shares in payment of interest on
the Debentures is subject to the acceptance by the TSX Venture
Exchange. The Common Shares issued in payment of interest on the
Debentures will be subject to a four month hold period.
VOTI also announces that the Board of Directors has granted
500,000 stock options to a newly hired Executive Officer under the
Corporation's stock option plan.
About VOTI Detection
VOTI Detection, headquartered in Montreal, Quebec, and listed on the TSX
Venture Exchange, is a leading-edge Canadian technology company
that develops latest-generation X-ray security systems based on 3D
Perspective™ technology. VOTI's technology produces remarkably
sharp and more revealing X-ray images that are competitively
superior while delivering enhanced threat detection capabilities
and an improved user experience. Since its inception, VOTI has
installed scanners in more than 50 countries and has consulted
heavily with government agencies and security specialists worldwide
to develop feature-rich and easy-to-use scanners that meet the
sophisticated needs of modern security screening operations.
www.votidetection.com
Notice regarding forward-looking statements:
This release includes forward-looking information within the
meaning of Canadian securities laws regarding VOTI
Detection and its business. Often, but not always,
forward-looking information can be identified by the use of words
such as "plans", "is expected", "expects", "scheduled", "intends",
"contemplates", "anticipates", "believes", "proposes" or variations
(including negative variations) of such words and phrases, or state
that certain actions, events or results "may", "could", "would",
"might" or "will" be taken, occur or be achieved. Such statements
are based on the current expectations of the management of
VOTI Detection, and are based on assumptions and subject
to risks and uncertainties. Although the management of VOTI
Detection believes that the assumptions underlying
these statements are reasonable, they may prove to be incorrect.
The forward-looking events and circumstances discussed in this
release may not occur by certain specified dates or at all and
could differ materially as a result of known and unknown risk
factors and uncertainties affecting the company, including risks
regarding the threat detection technology industry, failure to
obtain regulatory approvals, economic factors, management's ability
to manage and to operate the business of VOTI
Detection, the equity markets generally and risks associated
with growth and competition. Although VOTI Detection
has attempted to identify important factors that could cause
actual actions, events or results to differ materially from those
described in forward-looking statements, there may be other factors
that cause actions, events or results to differ from those
anticipated, estimated or intended. Accordingly, readers should not
place undue reliance on any forward-looking statements or
information. No forward-looking statement can be guaranteed. Except
as required by applicable securities laws, forward-looking
statements speak only as of the date on which they are made and
VOTI Detection does not undertake any obligation to
publicly update or revise any forward-looking statement, whether as
a result of new information, future events, or otherwise. In
addition, the current situation and future developments with
respect to the COVID-19 pandemic could cause certain of the
assumptions and information set forth herein or the fact that on
which such assumptions are based to differ materially from previous
expectations including in respect of demand for our products,
supply chain and availability of materials, mobility and shipping
of materials and or products, access to debt and equity capital and
other factors.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE VOTI Detection Inc.