Not for distribution to U.S. news wire services or dissemination in the United States
Vancouver, British Columbia – August 17, 2020 – First Responder Technologies Inc. (“First Responder” or the “Company”) (CSE: WPN | OTCQB: WPNNF | FWB: 3WK), a developer of WiFi-based technologies for detecting concealed weapons and for deterring mass shooting and terror attacks involving concealed weapons, is pleased to announce that it successfully demonstrated its Sentinel™ WiFi concealed weapons detection and Sentinel™ Vision openly carried weapon detection units (the “Units”) to the Company’s Board of Directors and Advisory Council at a board meeting held on August 14, 2020. Sabre Global UK Ltd., a technology systems integrator and value-added reseller focused on introducing North American military and public safety technology to the United Kingdom, is expected to begin testing one of the Units this month. In addition, three Units are expected to arrive in Vancouver this week for demonstrations and further refinement of artificial intelligence features.
Despite the COVID-19 pandemic and related challenges, management expects that the Company will complete its previously disclosed business objectives. The Company expects to deliver its A4 minimum viable product in the fourth quarter of 2020, which management anticipates will result in the Company’s first revenue event. In addition, management expects that development of the Company’s Sentinel Suite of weapons detection sensors will be completed in 2021. Deployment of a V1.0 product is expected to occur by the end of 2021.
The Company has granted 1,000,000 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.
Native Ads Inc. Engagement
First Responder has engaged Native Ads Inc. (“Native Ads”) to provide and manage a comprehensive digital media marketing campaign for the Company. The Company has entered into a 12-month programmatic digital advertising campaign for a total cost of C$55,000. The campaign includes, but is not limited to: content creation, web development, media buying and distribution, advertising development, and campaign reporting and optimization. A budget of C$41,250 from this payment will be allocated for digital advertising, paid distribution, and media buying. A budget of C$13,750 will be allocated for production, managed services, and management fees over the campaign period. Neither Native Ads nor any of its directors and officers own any securities of the Company. Native Ads is a full-service ad agency and operator of a programmatic ad exchange.
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, including statements regarding revenue expected to be generated by First Responder. 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.
FINANCIAL OUTLOOK INFORMATION – This news release contains “financial outlook information” regarding future revenue expectations, which is subject to the same assumptions, risk factors, limitations, and qualifications as set forth in the above. Revenue and other estimates contained in this news release were made by First Responder’s management as of the date of this news release and are provided for the purpose of describing anticipated timing of revenue generation, and are not an estimate of profitability or any other measure of financial performance. Investors are cautioned that the financial outlook information contained in this news release should not be used for purposes other than for which it is disclosed herein.
Neither the 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.