Not for distribution to U.S. news wire services or dissemination in the United States
Vancouver, British Columbia – February 21, 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, today provided its shareholders with the following letter and corporate update from Kal Malhi, Chairman.
Dear fellow shareholders:
Momentum is accelerating as we move deeper into the first quarter of 2020. As many of you know, the Company recently signed alpha test agreements with partners in Canada, the United States and United Kingdom. We were also invited to attend the invitation-only UK Home Office Expo (Security and Policing 2020) March 3-5, 2020 in Farnborough UK, where the Company will demonstrate the world’s first WiFi-based walk-through metal detection unit using sensor bollards.
2019 was a year of ambitious stage-setting for First Responder as we positioned our company for the next leap in its evolution, from a highly innovative development company to a commercially viable business. Our goal has been clear from the outset: to establish a successful commercial legacy in the world of weapons detection and product innovation. We would like to thank our early shareholders for believing in the Company’s vision as we continue to develop and innovate our proprietary technology. Your support is an integral part of our goal to build a successful and revolutionary technology company.
The task to transfer innovative concepts from the minds of our team members to First Responder’s drawing boards and from there to tomorrow’s technology products is considerable. Our team is ready and driven to accomplish that goal this year, and we are up to the challenge.
What made us proud in 2019 and make us confident in 2020:
- we completed our initial public offering for gross proceeds of approximately $4.8 million;
- our common shares have remained liquid since trading commenced on the Canadian Securities Exchange on January 16, 2020, with approximately 11.4 million common shares traded since that date;
- we appointed Ambassador (Ret.) Howard Gutman, former United States Ambassador to Belgium and former Special Assistant to the Director of the Federal Bureau of Investigation, and Brigadier General (Ret.) John Jayet, former commander of a number of French Army units, including a military intelligence regiment, to our Advisory Council;
- senior members of the Company’s senior management team attended Milipol, a homeland security and public safety tradeshow and conference, in Paris, France from November 19-22, 2019 (“Milipol”), as well as the International Security Exposition, a homeland security and public safety tradeshow and conference in London, UK from December 3-4, 2019 (“ISE”); and
- at Milipol and ISE, the Company logged approximately 200 in‐person requests for follow‐up, from prospective customers and partners, and to date the Company has recorded in excess of 1,000 digital inquiries about its WiFi‐based weapons detection technology from prospective customers and partners.
We view each of these accomplishments as validation of our technology, our team and our progress.
First Responder’s management team recognizes that the first quarter of 2020 has so far been a challenging quarter in the capital markets and, as with most venture company listings, we experienced considerable volatility in our share price. Our mindset is to consistently build the Company, and the stock price will follow. We continue to focus on innovation and product engineering with a solid business strategy.
First Responder was founded with a focus to develop technology that we believe can make the world safer. We believe that our WiFi-based weapons detection technology is a first step toward realizing that vision.
Moving forward, we look forward to First Responder hitting key milestones and transitioning to a commercially successful, sustainable business. Looking back on the decision you made to invest with us, I trust you share my conviction and belief that our best days and years are to come. Thank you for your support.
Kal Malhi, Chairman
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
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.
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.