First Responder Commences Trading ON the Canadian Securities Exchange
Suite 915, 700 West Pender Street
Vancouver, B.C. V6C 1G8
T
FIRST RESPONDER COMMENCES TRADING ON THE CANADIAN SECURITIES EXCHANGE
(CSE:WPN)
Not for distribution to U.S. news wire services or dissemination in the United States
Vancouver, British Columbia – January 15, 2020 – First Responder Technologies Inc. (“First
Responder” or the “Company”) (CSE: WPN) a developer of WiFi‐based technologies to detect
and deter mass shooting and terror attacks involving concealed weapons, is pleased to announce
that it will begin trading on the Canadian Securities Exchange (“CSE”) under the stock symbol
“WPN” on January 16, 2020.
Initial Public Offering
On January 14, 2020 the Company completed its initial public offering (the “Offering”) of
13,974,186 units (each a “Unit”) issued at a price of $0.35 per Unit. The Offering generated
aggregate gross proceeds of $4,890,965.10 pursuant to a prospectus dated November 14, 2019
(the “Prospectus”).
Each Unit is comprised of one common share of the Company (each a “Common Share”) and
one‐half of one common share purchase warrant (each whole warrant being a “Warrant”). Each
Warrant is exercisable into one Common Share at a price of $0.50 per Common Share for a period
of twenty‐four months from today’s date. A copy of the Prospectus is available under the
Company’s profile on SEDAR at www.sedar.com.
Product and Market Development Activities
The Company plans to allocate a significant portion of the proceeds from the Offering to continue
its robust research and development program, involving teams in Vancouver, BC led by Misty
West Energy and Transport Ltd., at Rutgers University and in New Delhi, India, led by VVDN
Technologies Pvt. Ltd., with the expectation that it will bring a prototype of a WiFi‐based walk
through weapons detection sensor (the “WiFi Weapons Detection Product”) to market in May
of 2020, pursuant the timeline disclosed in the Prospectus.
In parallel with its research and development efforts, the Company’s management and advisory
team, led by former federal Public Safety Minister, the Hon. Stockwell Day, former RCMP
Commissioner Bev Busson, environmental criminologist Dr. Kelly Sundberg, and artificial
intelligence researcher, Dr. Steve DiPaola, will continue its efforts to engage and inform security
professionals, public safety technology vendors and governments around the world, at events
like Milipol, held in Paris France in November, 2019 (“Milipol”) and the International Security
Expo held in London, United Kingdom in December, 2019 (“ISE”), about the Company’s efforts to
develop its WiFi‐based weapons detection technology. 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. From these past and
future sales and marketing efforts, the Company anticipates signing alpha test agreements in
advance of delivery of the prototype in May of 2020, and the release of version alpha of its WiFi
Weapons Detection Product at the end of 2020, in accordance with the timeline set out in the
Prospectus.
“I am pleased that the Company has achieved this significant milestone,” said Hon. Stockwell Day,
PC. “As the lead advisor to the Company, I am watching the technology development timeline
closely, as this technology has the potential to make public spaces, such as churches, synagogues,
mosques, schools, theatres, shopping centres and sports venues, safer. When I was in public
service, just knowing such a technology was available would have given me comfort that
governments and landlords have new options coming to secure public gatherings.”
“Closing this round of funding and going public provides the Company with a unique opportunity
to access public capital in furtherance of its primary objective over the next 24 months, which is
to deliver to the market a truly disruptive public safety product, which in this time of global
insecurity due to the threat of mass shootings and terror attacks, perpetrated by individuals with
access to high‐capacity firearms, is needed more than ever,” said the Company’s Chief Executive
Officer, Robert Delamar.
Share Issuance to Rutgers
Pursuant to the terms of a license assignment agreement entered into between the Company
and BullRun Capital Inc., the Company will issue 6,952,322 Common Shares to Rutgers, the State
University of New Jersey (“Rutgers”), on behalf of itself and the Research Foundation for the
State University of New York, acting for and on Behalf of Binghamton University and the Trustees
of Indiana University, at a deemed value of $0.35 per Common Share. Upon completion of the
issuance of Common Shares to Rutgers, Rutgers will hold 11.23% of the Company’s Common
Shares on a non‐diluted basis and 9.09% of the Company’s Common Shares on a fully‐diluted
basis.
Option Grants
In connection with the Company’s CSE listing, the Company will grant an aggregate of 2,690,000
incentive stock options (the “Options”) in accordance with the Company’s stock option plan to
certain directors, officers and consultants of the Company as follows:
Exercise
Price
Options Vesting Conditions Expiry Date
$0.40 300,000 1/3 on the date of grant; 1/3 on the date that is twelve (12) months
from the date of grant; and 1/3 on the date that is eighteen (18)
months from the date of grant.
Three (3) years
from the date of
grant.
$0.35 70,000 1/2 on the date of grant; and 1/2 on the date that is six (6) months
from the date of grant.
Three (3) years
from the date of
grant.
$0.40 240,000 Immediate. Three (3) years
from the date of
grant.
$0.35 300,000 1/3 on the date of grant; 1/3 on the date that is twelve (12) months
from the date of grant; and 1/3 on the date that is twenty‐four (24)
months from the date of grant.
Three (3) years
from the date of
grant.
$0.50 300,000 Immediate. Three (3) years
from the date of
grant.
$0.35 250,000 Immediate. Three (3) years
from the date of
grant.
$0.50 200,000 Immediate. Five (5) years
from the date of
grant.
$0.15 1,000,000 Immediate. Three (3) years
from the date of
grant.
$0.50 30,000 Immediate. Two (2) years
from the date of
grant.
TOTAL: 2,690,000
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
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.
For Further Information, Please Contact:
General Inquiries:
Investor Relations:
Lyle McLennan
Media Contacts:
Alastair Macmichael
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.