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Liberty Defense Announces $4.3 Million USD Credit Facility With Parabilis to Support Working Capital
Liberty Defense Announces $4.3 Million USD Credit Facility With Parabilis to Support Working Capi...
About this update from Liberty Defense Holdings Ltd.
[{"type":"text","content":"\n\n\n\n Liberty Defense Announces $4.3 Million USD Credit Facility With Parabilis to Support Working Capital\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n WILMINGTON, Mass.\n \n\n ,\n \n\n Aug. 22, 2024\n \n\n /CNW/ -\n \n Liberty Defense Holdings Ltd.\n \n (\"\n \n Liberty\n \n \" or the \"\n \n Company\n \n \") (TSXV: SCAN) (OTCQB: LDDFF) (FRANKFURT: LD2A), a leading technology provider of Artificial Intelligence (AI) based next generation detection solutions for protecting secure locations against prohibited weapons and other threats, is pleased to announce that it has secured a term loan and revolving credit facility with US Government funding specialist Parabilis.\n \n\n\n\n\n\n\n\n\n Parabilis offers government contract financing solutions, specializing in providing fast, flexible, and affordable lines of credit to small and medium-sized contractors. Leveraging their management team's 100 years of government contracting executive experience, Parabilis aims to support the growth of businesses by addressing the common problem of working capital requirements. Their services enable government contractors to fund rapid growth, bid with confidence, and protect profits, empowering them to realize the profitability they have earned.\n \n\n\n Liberty will leverage purchase orders, government contracts and accounts receivables from commercial product sales to support working capital needs\n \n\n The agreement provides immediate access to cash flow to support production of inventory to meet ongoing demand\n \n\n\n \"This is not just a credit facility as we have gained a true partner in Parabilis that appreciates the importance of the technology and will be there to support our growth.  This agreement gives us a source of non-dilutive funding that helps us advance our commercial efforts, said\n \n Bill Frain\n \n , CEO of Liberty Defense. \"The ongoing demand we are seeing for HEXWAVE in the marketplace is driving the need to manufacture more product and manage our working capital in support of sales.  ...