Investment in the development of the
HD-AIT field upgrade kit demonstrates the TSA's commitment to Open
Architecture.
WILMINGTON, Mass., Oct. 17,
2023 /CNW/ - Liberty Defense Holdings
Ltd. ("Liberty" or the "Company") (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
received additional funding from the Transportation Security
Administration (TSA) to incorporate additional design efficiencies
into the development of a High-Definition Advanced Imaging
Technology (HD-AIT) upgrade kit for testing on an Advanced Imaging
Technology (AIT) passenger screening system.
The HD-AIT next-generation people screening technology platform
for threat detection uses high-definition imaging and
AI, resulting in greater threat detection with a lower false
alarm rate for a better passenger experience. The HD-AIT upgrade
kit being developed is designed to enhance the capabilities of an
existing AIT unit using open architecture, allowing the use of
third-party hardware and software components. Per the TSA, Open
Architecture is a technology-design approach for software and
hardware that uses widely accepted standards to ensure
interoperability across tools and platforms regardless of the
technology designer, manufacturer, or supplier.
The TSA, an agency of the U.S. Department of Homeland Security,
is responsible for airline passenger security screening conducted
at airports in the United States.
TSA's On-Person Screening program aims to detect a growing range of
threats, with fewer false alarms and less physical contact with
travelers. In addition to enhanced detection, the HD-AIT body
scanners are anticipated to help improve passenger experience and
move people through the checkpoint more seamlessly.
"We continue to work closely with TSA on this critical
initiative to help develop the next generation of passenger
screening," says Liberty CEO Bill
Frain. "The upgrade kit will provide future state capability
at the checkpoint, with the focus on detecting more threats and
providing an overall better experience for the traveling
public."
Liberty previously licensed millimeter wave-based,
High-Definition Advanced Imaging Technology (HD-AIT) body scanner
and shoe screener technologies in March of 2021. Both technologies
were developed by researchers at the Pacific Northwest National
Laboratory (PNNL), funded by U.S. Department of Homeland Security
Science and Technology Directorate (DHS S&T) on behalf of the
Transportation Security Administration mission. Liberty is now
developing the technology in house with its experienced team of
engineers.
In addition, pursuant to the Company's omnibus long-term
incentive plan, and subject to regulatory approval, Liberty granted
a total of 75,000 stock options (the "Options") and 1,590,975
restricted share units ("RSUs") to certain directors and officers
of the Company, effective October 16,
2023. Each Option is exercisable for one common share in the
capital of the Company (a "Share") at an exercise price of
$0.19 per Share. 12.5% of the Options
will vest on January 16, 2024 and an
additional 12.5% will vest every three months thereafter. The
Options will expire on October 16,
2028. All 1,590,975 RSUs will vest on October 16, 2024. All Options and RSUs are
subject to the terms of the Company's omnibus long-term incentive
plan and applicable securities law hold periods.
For updates and news, please visit the Company website to
subscribe to email alerts or follow Liberty Defense on social
channels.
On Behalf of Liberty Defense
Bill Frain
CEO & Director
About Liberty Defense
Liberty Defense (TSXV: SCAN, OTCQB:
LDDFF, FRANKFURT: LD2A)
provides multi-technology security solutions for concealed weapons
detection in high volume foot traffic areas and locations requiring
enhanced security such as airports, stadiums, schools, and more.
Liberty's HEXWAVE product, for which the company 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, provides discrete, modular, and scalable
protection to provide layered, stand-off detection capability of
metallic and non-metallic weapons. Liberty has also recently
licensed the millimeter wave-based, High-Definition Advanced
Imaging Technology (HD-AIT) body scanner and shoe scanner
technologies as part of its technology portfolio. Liberty is
committed to protecting communities and preserving peace of mind
through superior security detection solutions. Learn more:
LibertyDefense.com
FORWARD-LOOKING STATEMENTS
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.
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. 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 development, 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 cautions 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
Liberty 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.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this press release.
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SOURCE Liberty Defense Holdings Ltd.