Liberty Defense secures $7M private placement financing

Liberty Defense Holdings, a provider of security and weapons detection solutions, has raised $7 million in a private placement led by Canaccord Genuity Corp.

Liberty Defense Technologies is the holder of an exclusive license from MIT Lincoln Laboratory, and a technology transfer agreement, for patents related to active 3D imaging technology that are packaged into its HEXWAVE product.

HEXWAVE uses modular architecture scalable to match customer throughput and multi-entry points. The active 3D imaging weapon detection technology uses receivers, transmitters, antennae, and machine learning soware to detect specic weapons. It transmits low power radio signals that can penetrate clothing, backpacks and purses.

Atlanta, Georgia based Liberty Defense Technologies intends to use funds will be used to establish the Atlanta-based engineering center to further develop and commercialize the HEXWAVE product.

Backed by all Canadian investors, Liberty Defense Holdings, the parent company of Liberty Defense Technologies, is likely to seek a listing on a Canadian exchange soon.

photo credit: Liberty Defense

News Release

Liberty Defense Secures $7 Million CAD to Commercialize Active 3D Imaging Technology for Weapons Detection

Not for Distribution in the United States or to United States Newswires

Vancouver, B.C. – October 29, 2018 – Liberty Defense Holdings, (“Liberty Defense”), a leader in security and weapons detection solutions, is announcing that it closed a $7 million CAD private placement to commercialize the HEXWAVE product. This system uses active 3D imaging technology for covert and overt weapons detection. Canaccord Genuity Corp. acted as the lead agent.

The funds will be used to establish the Atlanta-based engineering center to further develop and commercialize the HEXWAVE product. Liberty Defense has been granted an exclusive license from MIT Lincoln Laboratory to commercialize this technology.

“The response from the investment community has been overwhelmingly positive,” said Bill Riker, CEO of Liberty Defense. “There is real commitment to solve the issues surrounding public safety that have proliferated in recent years, and this detection system offers an innovative approach for this challenge with the HEXWAVE product.”

The HEXWAVE product offers key advantages:

Modular and scalable architecture to match customer throughput and facilitate multiple entry point screening that works both indoors and outdoors
3D image information and machine learning produce high fidelity, real-time threat images that are assessed using artificial intelligence (AI)
Sensors can be concealed within walls or built discreetly into the design of almost any entry or pathway
Greater depth of detection range provides security teams with layered defense, increasing stand-off time to counter threats before they infiltrate the premises

“Over the coming months, our team will be discussing opportunities to collaborate with external parties for alpha and beta testing of the product. We are exploring both public and private urban infrastructure partners which have an interest in being the first to deploy this HEXWAVE technology,” added Riker.

Market demand for global explosives and weapons detection systems in these vertical markets is expected to grow to over $5.2 billion by 2020 and steadily increase to over $7.5 billion by 2025. (Homeland Security Research Corp.)

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About Liberty Defense
Liberty Defense Holdings (“Liberty Defense”) is a leader in security and weapons detection solutions that has secured an exclusive license from MIT Lincoln Laboratory, as well as a technology transfer agreement, for patents related to active 3D imaging technology that are packaged into the HEXWAVE product. The system enables discrete, modular, layered protection for high volume foot traffic areas and can be scaled to fit multiple or unique entry points to provide a layered, stand-off detection capability. This architecture aligns with the Departments of Homeland Security’s declared need for “Layered Defense” by providing a means to proactively counter evolving urban threats. The integrated sensor-AI array can detect metallic and non-metallic firearms, knives and explosives. Headquartered in the greater Atlanta, Georgia area, Liberty Defense is committed to protecting communities and preserving peace of mind through superior security detection solutions. Learn more: LibertyDefense.com

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Ted Liu

Ted Liu, M.Sc. (Mining), MBA (Finance), is the Editor of Private Capital Journal and CanadaMetals.ca, and former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA). Ted was the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, the most sophisticated and advanced all private capital and public market financing database.