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VANCOUVER, Nov. 26, 2019 /CNW/ -
Receipt for Final Prospectus and Conditional Approval for Listing on CSE
First Responder Technologies Inc. ("First Responder" or the "Company"), a developer of technologies to detect and deter public attacks involving concealed weapons, is pleased to announce that it has filed and obtained a receipt for its final long form prospectus dated November 14, 2019 (the "Prospectus") from the securities regulatory authorities in British Columbia, Alberta and Ontario. The Prospectus qualifies the Company's Initial Public Offering and the distribution of a minimum of 10,000,000 units of the Company (each, a "Unit") and a maximum of 20,000,000 Units (the "Offering"), at a price of $0.35 per Unit. Each Unit consists of one common share (each, a "Common Share") one-half of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant is exercisable at a price of $0.50 per Common Share for a period of 24 months from the closing date of the Offering. The Units are being offered for sale by PI Financial Corp. as agent and sole bookrunner (the "Agent") on a best efforts basis pursuant to an agency agreement among the Company and the Agent dated November 14, 2019.
In connection with the Offering, the Company has received conditional approval from the Canadian Securities Exchange ("CSE") for the listing of the Common Shares, subject to the completion of customary requirements of the CSE, including the receipt of all required final documentation and the closing of the Offering. Once final approval is received, the Common Shares will commence trading under the symbol "WPN". There can be no guarantee that the CSE will accept the listing of the Company's common shares.
Market Development Activities: Milipol and International Security Exposition
The Company is pleased to announce that senior members of the First Responder's management team attended Milipol, a homeland security and public safety tradeshow and conference, in Paris, France from November 19-22, 2019. The Company hosted a booth and received significant commercial interest in the Company's WiFi-based weapons detection technology from the global audience in attendance.
The Company is scheduled to attend International Security Exposition ("ISE"), a homeland security and public safety tradeshow and conference in London, UK from December 3-4, 2019. The Company plans to demonstrate an initial proof of concept of a WiFi-based detection technology solution at ISE. More than 15,000 exhibitors, speakers and attendees are registered to participate at ISE.
For clarity, the tradeshows do not constitute "road shows" under National Instrument 41-101.
No securities regulatory authority has either approved or disapproved of the contents of this news release. The common shares have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States, or to or for the account or benefit of any person in the United States, absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any common shares in the United States, or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.
On behalf of the Board of Directors,
"Robert F. Delamar"
Robert F. Delamar, CEO
About First Responder Technologies Inc.
First Responder Technologies Inc. (the "Company") is a technology development company that commercializes academic and internally developed intellectual property for use in the public safety market. The Company is developing a WiFi-based technology, based in part, on academic research licensed from Rutgers, the State University of New Jersey ("Rutgers") that can be used to detect concealed weapons. The Company's threat detection technology line of business was created to capture a significant portion of the global weapons detection systems market, and in particular, the global perimeter security detection market. In the Company's view, WiFi‐based threat detection technology may be utilized by a wide range of facilities, including schools, places of worship, shopping centres and theatres, to not only make their premises secure, but also reduce their cost of security, from the interior of a facility to the perimeter.
Certain statements in this news release may constitute "forward-looking" statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of First Responder or the industry in which it operates, to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. When used in this news release, such statements include words such as "may", "will", "expect", "believe", "plan" and other similar terminology. Such forward-looking information reflects First Responder's views with respect to future events and is subject to risks, uncertainties and assumptions, including those set out in the Prospectus, the risk that closing of the Offering will be delayed and the risk that the Offering may not be completed. First Responder does not undertake to update forward-looking statements or forward-looking information, except as required by law.
These risk factors are discussed in detail under the heading "Risk Factors" in the Prospectus. New risk factors may arise from time to time and it is not possible for management of the Company to predict all of those risk factors or the extent to which any factor or combination of factors may cause actual results, performance or achievements of the Company to be materially different from those contained in forward-looking statements. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, First Responder cannot assure investors that actual results will be consistent with these forward-looking statements.
The CSE has not in any way passed upon the merits of the listing of the common shares of First Responder and has neither approved nor disapproved the contents of this news release. Listing of the common shares of First Responder is subject to satisfaction of the listing requirements of the CSE.