VANCOUVER, Sept. 10, 2019 /CNW/ - Liberty Defense Holdings Ltd. ("Liberty" or the "Company") (TSXV: SCAN; FRANKFURT: LD2; OTCQB:LDDFF), a leading concealed weapons detection solutions company, is pleased to announce that Laurentian Bank Securities Inc. has initiated coverage of the Company, that MIT has received the FLC Award for its transfer of the technology behind HEXWAVE, and the Company's recent presentation to the National Legislative Service and Security Association (NLSSA).
Laurentian Bank Securities Inc. is a subsidiary of Laurentian Bank of Canada. Established in Montreal in 1846, Laurentian Bank of Canada is a fully integrated financial services provider with operations throughout Canada.
The initiation research report, dated September 10, 2019, was written and produced by Laurentian Bank Securities Inc.'s Managing Director and Head of Research, Nick Agostino, CFA, MBA, P.Eng., as an independent analysis of Liberty's activities and progress. Since 2000, Nick has specialized in equity research.
A full copy of this report is available upon request from a Laurentian Bank Securities Inc. representative.
MIT Technology Transfer Award
MIT LL has been notified that it will receive the Excellence in Technology Transfer award from the Federal Laboratory Consortium ("FLC") for developing the microwave imaging system used in Liberty's HEXWAVE weapon detection system. This real time 3D imaging technology can operate at a video rate (~10 Hz), to screen a constant flow of subjects and minimize traffic flow obstruction. This revolutionary technology has the potential to change the face of security technology, allowing for more functional safety features for spaces within the global urban security environment. FLC research and development fosters scientific and technological breakthroughs that ultimately work to benefit the country's economy.
"It is an honour to be part of bringing a new wave of security capability to the global urban security market and seeing the technology behind it recognized is quite inspiring and a well-deserved tribute to the cooperative energy and innovative leadership of the development teams," said Bill Riker, Liberty Defense CEO. "We intend to use the real time 3D imaging system developed by MIT LL to its full capacity, by pairing it with HEXWAVE's other subsystems.
Recently, Bill Riker and COO and US President Aman Bhardwaj were invited to present a briefing on HEXWAVE's 3D active threat detection technology at the annual training conference of the National Legislative Service and Security Association (NLSSA) summer meeting in Tallahassee, Florida. The NLSSA is a group committed to the professional development of career legislative and security professionals, including the Sergeants-at-Arms from the 50 US State Capitals. This association is integral to the mission of securing the capitals in all 50 states.
"We are pleased to have had Liberty Defense present at our most recent NLSSA Training Conference to provide our Association's Security Professionals with a technical product briefing on HEXWAVE. The product's cutting edge screening capability holds exceptional promise for the industry and we look forward to continued opportunities to evaluate HEXWAVE in our respective state capitols. Liberty Defense's next-generation system may become the means by which we secure many important facilities in the future," said NLSSA President Chief Martin Brock, Chief of the North Carolina General Assembly Police Department."
The audience included Florida Senate President Bill Galvano and many state capital security professionals who expressed interest in the HEXWAVE technology.
NLSSA is a part of the National Conference of State Legislatures (NCSL), a bi-partisan organization committed to the sharing of best practices to promote good policy across the United States and its 50 state legislative bodies. The NCSL Summit, held most recently in Nashville, attracted almost 8,000 registrants, and of those, more than 3,000 were legislators from state house and senate chambers from all 50 states and the territories.
On Behalf of Liberty Defense
CEO & Director
About Liberty Defense
Liberty provides security solutions for concealed weapon detection in high volume foot traffic areas and 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 that are packaged into the HEXWAVE product. The system is designed to provide discrete, modular and scalable protection to provide layered, stand-off detection capability. This is intended to provide a means to proactively counter evolving urban threats. The sensors with active 3D radar imaging and Artificial Intelligence (AI)-enhanced automatic detection are designed to detect metallic and non-metallic firearms, knives, explosives and other threats. Liberty is committed to protecting communities and preserving peace of mind through superior security detection solutions. Learn more: LibertyDefense.com
About Laurentian Bank of Canada
The Laurentian Bank of Canada is a financial institution founded in 1846 that operates throughout Canada. The Bank caters to the needs of retail clients via its branch network based in Quebec. The Bank also stands out for its know-how among small and medium-sized enterprises and real estate developers owing to its specialized teams across Canada. Its subsidiary B2B Bank is, for its part, one of the major Canadian leaders in providing banking products and services and investment accounts through independent advisors and brokers. Laurentian Bank Securities offers integrated brokerage services to a clientele of institutional and retail investors.
About the Federal Laboratory Consortium for Technology Transfer
The Federal Laboratory Consortium for Technology Transfer is the formally chartered, nationwide network of over 300 federal laboratories, agencies, and research centers that fosters commercialization best practice strategies and opportunities for accelerating federal technologies from out of the labs and into the marketplace.
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. The forward-looking statements and information in this press release include, amongst others, information relating to initiating coverage, MIT's Excellence in Technology Transfer award, and NCSL. 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. Such factors include, among others, the following risks: (a) there may be no future analyst coverage reports, (b) the Company may not be involved in any future awards, and (c) the Company may not participate in any future national conferences. These fluctuations may adversely affect the price of the Liberty's securities, regardless of its operating performance. 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 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 caution 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 the parties 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.
All amounts referred to herein are in Canadian dollars unless otherwise indicated.
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SOURCE Liberty Defense Holdings Ltd.
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