Business
Liberty Announces Closing of Prospectus Offering of Units
VANCOUVER, British Columbia and WILMINGTON, Mass., March 20, 2025 (GLOBE NEWSWIRE) -- Liberty D...
About this update from Liberty Defense Holdings Ltd.
[{"type":"text","content":"Liberty Announces Closing of Prospectus Offering of Units\n\n\n\n VANCOUVER, British Columbia and WILMINGTON, Mass., March 20, 2025 (GLOBE NEWSWIRE) --\n \n Liberty Defense Holdings Ltd.\n \n (“\n \n Liberty\n \n ” or the “\n \n Company\n \n ”) (\n \n TSXV: SCAN\n \n ,\n \n OTCQB: LDDFF\n \n ,\n \n FRANKFURT: LD2A\n \n ), a leading technology provider of AI-based next generation detection solutions for concealed weapons and threats, is pleased to announce that is has closed the previously announced over-night marketed public offering of 3,031,000 units (the “\n \n Units\n \n ”) at the price of $1.65 per Unit for gross proceeds of $5,001,150 (the “\n \n Offering\n \n ”). Canaccord Genuity Corp. (the “\n \n Underwriter\n \n ”) acted as underwriter for the Offering.\n \n\n Each Unit comprised of one common share of the Company (each a “\n \n Share\n \n ”) and one-half of one Share purchase warrant (each whole Share purchase warrant, a “\n \n Warrant\n \n ”). Each Warrant entitles the holder to acquire one Share at an exercise price of $2.05 per Share. The Warrants are exercisable until March 20, 2027.\n \n\n The Units were offered by way of a final short form prospectus of the Company dated March 13, 2025 in each of the provinces of Canada, except Quebec.\n \n\n The Company intends to use the proceeds of the Offering for business development and marketing expansion, manufacturing and supply chain optimization, sustaining engineering, research and development and product innovation and general and administrative expenses.\n \n\n \"I would like to thank the investors for their support in this financing. We're seeing increased activity and interest in our technology, and this funding will help drive the Company's growth in the coming quarters,\" said Bill Frain, CEO of Liberty.\n \n\n The Offering remains subject to the final approval of the TSX Venture Exchange. The TSXV has conditionally accepted the Offering.\n \n\n The Underwriter received (i) a cash commission of $300,069, (ii) a cash corporate finance fee of $50,011.50, (iii) 181,860 compensation warrants (the\n \n “Underwriter Warrants\n \n ”) and (iv) 30,310 corporate finance fee warrants (the “\n \n Corporate Finance Fee Warrants\n \n ”). Each Underwri...