Company Announcements

WILMINGTON, Mass. , Sept. 25, 2024 /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 under its current contract with the Transportation Security Administration (TSA). The contract was awarded in 2023 with a total value of $3.86M. With this additional funding, $1.69M of the total contract value has been obligated. The funding will support 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 purpose of this Research and Development contract is to provide the TSA with Open Architecture (OA) software, end-to-end engineering development, and the maturation of the HD-AIT Wideband Upgrade Kit that is anticipated to offer enhanced detection and an improved passenger experience.

As a federal agency within the U.S. Department of Homeland Security, TSA is responsible for security screening conducted at about 430 federalized airports in the United States. The agency's On-Person Screening program aims to detect a range of emerging threats, with fewer false alarms and less physical contact with passengers. According to the TSA Open Architecture Roadmap, the agency seeks 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.

"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. "We have made significant progress on the kit and this funding will support the targeted testing schedule in 2025. The HD-AIT Upgrade Kit will provide advanced threat detection and the opportunity for TSA to engage third-party providers for additional HD-AIT capabilities that could provide other operational proficiencies at the checkpoint."

Liberty licensed millimeter wave-based HD-AIT body scanner and shoe screener technologies in March of 2021. Both technologies were developed by researchers at the Pacific Northwest National Laboratory, funded by U.S. Department of Homeland Security Science and Technology Directorate on behalf of the Transportation Security Administration mission. Liberty is now developing the technology in house with its experienced team of engineers.

Liberty Defense to Host Live Corporate Update Webinar on September 26^th at 2pm ET

• Liberty Defense's CEO, Bill Frain, will be hosting a webinar to provide important updates on the Company, including strategic partnerships, and discuss current operations and upcoming milestones, followed by live Q&A. You may submit your question(s) beforehand in the registration form linked below.
  
  
• Investors and other interested parties invited to join and learn more about Liberty Defense's HEXWAVE contactless security and threat detection technology.

Date: Thursday, September 26^th, 2024
Time: 2pm ET
Register: Webinar Registration

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.

SOURCE Liberty Defense Holdings, Ltd.