Termination of Definitive Agreement With Airbeam and Director resignation
FIRST RESPONDER ANNOUNCES TERMINATION OF DEFINITIVE AGREEMENT WITH AIRBEAM AND DIRECTOR RESIGNATION
Vancouver, British Columbia – March 14, 2021 – First Responder Technologies Inc. (“First Responder” or the “Company”) (CSE: WPN | OTCQB: WPNNF | FWB: 3WK), a leading developer of public safety and security technologies, announces the termination of its business combination and amalgamation agreement dated March 2, 2021, entered into between the Company, Airbeam Wireless Technologies Inc. (“Airbeam”) and 1290210 B.C. Ltd., a wholly‐owned subsidiary of the Company. The Company and Airbeam intended to complete a reverse take‐over transaction (the “Proposed Transaction”), which would have constituted a “fundamental change” for the Company pursuant to the rules and policies of the Canadian Securities Exchange. Further details regarding the Proposed Transaction are provided in the Company’s press release dated March 4, 2021, copies of which are available on the Company’s SEDAR profile at www.sedar.com.
The Company also announces that Erin Campbell has resigned from the board of directors of the Company, effective March 11, 2021. The Company would like to thank Ms. Campbell for her vision, unflagging commitment, energy and skill that she brought to the Company during her tenure on the board of directors and wishes her well in her future endeavors.
The Company has reduced its development activities and is evaluating a number of potential strategic opportunities to bring value to its shareholders.
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 [email protected] +1‐604‐227‐9821
About First Responder Technologies Inc.
First Responder Technologies Inc. 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 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.
For Further Information, Please Contact:
General Inquiries:
Investor Relations:
Lyle McLennan
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.