NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES First Responder Technologies Inc. a leading developer of public safety and security technologies, announced the following updates today. Update on Previously Announced Non-Brokered Private Placement The Company will not proceed with the CDN$1,000,000 non-brokered private placement previously announced on October 6, 2020 and will be …
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES /
First Responder Technologies Inc. (“First Responder” or the “Company”) (CSE: WPN) (OTCQB: WPNNF) (FWB: 3WK), a leading developer of public safety and security technologies, announced the following updates today.
Update on Previously Announced Non-Brokered Private Placement
The Company will not proceed with the CDN$1,000,000 non-brokered private placement previously announced on October 6, 2020 and will be returning the funds received.
Postponement of Annual General Meeting
The Company announces that, due to the challenges related to COVID-19 and the recent changes to the Company’s board of directors, the Company’s management determined that it is in the best interest of shareholders to postpone the Company’s 2020 annual general meeting (” AGM “). The Company has been granted an extension (of up to six months with an outside date of June 30, 2021 ) by the BC Registrar of Companies, which will allow the Company sufficient time to prepare the required information circular and communicate effectively with shareholders on material matters. The Company will continue to monitor the COVID-19 situation and, in due course, will set a date for its next AGM and will file a notice of meeting and record date on the Company’s website and under the Company’s SEDAR profile at www.sedar.com .
The Company also announces that it has cancelled its previously announced AGM that was to be held on December 10, 2020 . The management information circular dated November 10, 2020 , which was mailed to all shareholders as of the record date on November 9, 2020 , is null and void.
On behalf of the Board of Directors,
” Robert F. Delamar ”
Robert F. Delamar , CEO
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.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
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.
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