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Liberty Defense Holdings Announces Transformation Plan
Liberty Defense Holdings Announces Transformation Plan Canada NewsWire /NOT F...
About this update from Liberty Defense Holdings Ltd.
[{"type":"text","content":"\n\n\n\n\n Liberty Defense Holdings Announces Transformation Plan\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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n /NOT FOR DISTRIBUTION TO U.S. NEWSWIRES OR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n\n\n\n\n VANCOUVER, BC\n \n and\n \n WILMINGTON, Mass.\n \n\n ,\n \n\n Nov. 12, 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: LD2), a leading technology provider of AI-based next generation detection solutions for concealed weapons and threats, is pleased to provide information on its corporate transformation plan.\n \n\n\n\n\n\n\n\n\n\n\n Bill Frain\n \n , CEO and Director, stated\n \n , \"Given the current conditions in the capital markets over the past year, we have made the decision to cancel our existing LIFE offering, streamline our balance sheet, and consolidate our share structure. These steps are aimed at positioning Liberty Defense to attract both existing and new investors as we execute on our multi-year growth strategy. This includes securing the necessary capital to meet the increasing demand for HEXWAVE across various verticals, as well as launching our TSA-funded High-Definition Advanced Imaging Technology (HD-AIT).\"\n \n\n\n Growth Financing Process & Commercialization Go-to-Market\n \n\n\n In connection with the upcoming share consolidation, the Company is expected to undertake a financing to raise funds in an amount to be determined (the \"\n \n Offering\n \n \"). The Offering will be priced in the context of the market in the following weeks and both priced and issued on a post-consolidation basis.\n \n\n The Company plans to use the proceeds of the Offering to further the production of HEXWAVE technology to support the increase in demand for the product and deliver units in backlog to customers, for general corporate purposes and for payment of outstanding liabilities of the Company.\n \n\n Completion of the Offering is subject to certain conditions including, but no...