Business
The Acquisition of Defense Technology Corporation Is Finalized by CanyonGold
The Acquisition of Defense Technology Corporation Is Finalized by CanyonGold.
About this update from Defense Technologies International Corp.
[{"type":"text","content":"\n \n \n The Acquisition of Defense Technology Corporation Is Finalized by CanyonGold\n \n \nThe Acquisition of Defense Technology Corporation Is Finalized by CanyonGold\n \n LAS VEGAS, NV--(Marketwired - Jan 22, 2016) - Canyon Gold Corp. (OTCQB: CGCC) (The Company) announces the completion and closing of the acquisition of 'DEFENSE TECHNOLOGY CORPORATION (DTC) as a wholly owned subsidiary of CanyonGold as announced in its 8-K filing on January 8, 2016. CanyonGold through DEFENSE TECHNOLOGY CORPORATION (DTC) plans to start production of the \"OFFENDER ALERT PASSIVE SCAN\"™ during the first quarter of 2016.\n The DTC proprietary Offender Alert Passive Scan is a portable scanning security device that uses the Earth's magnetic fields to detect potential security threats. The Offender Alert Passive Scan is the only product of its kind that uses passive scanning. \n Traditional detectors use X-ray (radiation) imaging -- the same type of technology that can have harmful effects after prolonged exposure; the Offender Alert Passive Scan eliminates any hazardous and non-hazardous-emittent exposure to students. \n When students or others step through the Offender Alert Passive Scan, sensors embedded within the aluminum frame alert security personnel to the level of threat with color-coded LED lights and an audible alert signal. The Offender Alert Passive Scan also can link with a computer to give an instant view, using numbers or colors, of the threat area, which can then be transmitted to a handheld or other command device for ease of use, threat tracking, response deployment, and neutralizing.\n DTC's Proprietary Offender Alert Passive Scan is a 'next generation' walk-through detector scanning unit.\n The DTC scan-system emits no harmful radiation through the subject and is passive.\n FUTURE PLAN:\n With commencement of production and marketing of the proprietary 'Passive Scanner Unit' by DTC, the Company will 'spin-off' its gold resources holding and exploration subsidiary 'LCGRC' and will register the gold subsidiary with the SEC through an S-1 Registration filing and thereby create a second public company trading its common stock on the OTCQB. The company believes this will enhance value for shareholders of CGCC stock prior to the completion of the spin-off through distribution of stock from the newly created OTCQB Company to a...