Not for distribution to U.S. news wire services or dissemination in the United States
Vancouver, British Columbia – May 19, 2020 – First Responder Technologies Inc. (“First Responder” or the “Company”) (CSE: WPN | FWB: 3WK) a developer of WiFi-based technologies to detect and deter mass shooting and terror attacks involving concealed weapons, is pleased to announce that it is developing an advanced AI open-carry weapons detection camera, and successfully demonstrated a proof of concept to the Company’s Board of Directors and Advisory Council at its fiscal Q3 board meeting held on May 15, 2020 (the “Smart AI Camera”).
The Smart AI Camera, which will utilize advanced machine learning and artificial intelligence (“AI”) processing on the edge, is expected to feature live-streaming video analytics technology for smart surveillance and monitoring, and generate early warning alarms for events that have the potential to harm property or persons (including, for example, the detection of openly carried weapons, such as guns or large knives).
The Smart AI Camera, when combined with the Company’s concealed weapon detection technology, is expected to provide comprehensive weapon detection and perimeter protection capabilities for a variety of premises, including expanded coverage for residential buildings and detached properties. As such, the development of the Smart AI Camera marks a notable expansion of the Company business into the home surveillance market, with an increased focus on consumer applications for the Company’s products and services.
“We are especially pleased to make today’s announcement given these trying times. Our team has continued to work exceptionally hard through this adversity to conceptualize, design and demonstrate the proof of concept Smart AI Camera product we unveiled today. This innovation in open-carry weapons detection, combined with our WiFi-based concealed weapons detection product, will help to make homes and businesses safer,” said Robert Delamar, the Company’s CEO.
According to data sourced from the World Economic Forum, a significant increase in the unemployment rate, arising from an economic shock, correlates with increased rates of crime.
The Smart AI Camera prototype is expected to feature the following hardware specifications:
- On-edge AI capabilities
- 4K Resolution
- Wide, Normal and Narrow Angle Lens options
- Digital image stabilization
- Lens Distortion correction
- USB port, SD card slot
- Built in microphone and audio out
The Company demonstrated the software underlying the Smart AI Camera at its recent board meeting held on May 15, 2020. Management of the Company anticipates that it will deliver a prototype of the Smart AI Camera for demonstration to early prospective customers by the end of June 2020, with commercial availability of a minimum viable product expected by the end of December 2020.
The Company has granted 1,140,000 restricted share units (each, an “RSU”) to certain directors, officers and consultants of the Company, with 1/3 of the of the RSUs vesting on December 31, 2021, 1/3 vesting on December 31, 2022 and 1/3 vesting on December 31, 2023. All of the RSUs will be subject to the terms of the Company’s rolling restricted share unit plan and applicable securities law hold periods.
No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities of the Company have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States, or to or for the account or benefit of any person in the United States, absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any common shares in the United States, or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.
On behalf of the Board of Directors,
“Robert F. Delamar”
Robert F. Delamar, CEO
First Responder Technologies Inc.
915 – 700 West Pender Street
Vancouver, BC. V6C 1G8
About First Responder Technologies Inc.
First Responder Technologies Inc. (the “Company”) is a technology development company that commercializes academic and internally developed intellectual property for use in the public safety market. The Company is developing a WiFi-based technology, based in part, on academic research licensed from Rutgers, the State University of New Jersey (“Rutgers”) that can be used to detect concealed weapons. The Company’s threat detection technology line of business was created to capture a significant portion of the global weapons detection systems market, and in particular, the global perimeter security detection market. In the Company’s view, WiFi‐based threat detection technology may be utilized by a wide range of facilities, including schools, places of worship, shopping centres and theatres, to not only make their premises secure, but also reduce their cost of security, from the interior of a facility to the perimeter.
For more information visit: www.firstrespondertech.com or follow us on Twitter, LinkedIn and Facebook.
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CAUTION REGARDING FORWARD-LOOKING INFORMATION
Certain statements contained in this news release may constitute forward‐looking information. Forward‐looking information is often, but not always, identified by the use of words such as “anticipate”, “plan”, “estimate”, “expect”, “may”, “will”, “intend”, “should”, and similar expressions. Forward‐looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward‐looking information. The Company’s actual results could differ materially from those anticipated in this forward‐looking information as a result of regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, changes to the Company’s strategic growth plans, and other factors, many of which are beyond the control of the Company. The Company believes that the expectations reflected in the forward‐looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. Any forward‐looking information contained in this news release represents the Company’s expectations as of the date hereof, and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward‐looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.
Canadian Securities Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the Canadian Securities Exchange) accepts
responsibility for the adequacy or accuracy of this release.
 The video is based on the Company’s expected look and functionality of the Smart AI Camera once a minimum viable product is achieved. The Smart AI Camera could differ materially from the product depicted in the video, or a minimum viable product may not be achieved at all. The Company believes that the expectations depicted in the video are reasonable, but no assurance can be given that these expectations will prove to be correct and the contents of the video should not be unduly relied upon.