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NEW LISTING: First Responder Technologies (CSE:WPN)

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First Responder is a technology development company that commercializes academic and internally developed intellectual property for use in the public safety market.

Additional Information:

Company: First Responder Technologies
Website: http://www.FirstResponderTech.com
Stock Symbol: CSE: WPN
Date Published: Jan 16, 2020
Transcript: Available

Video Transcript:

I’m Nadika Viswakula for Investmentpitch Media

First Responder Technologies is one of the latest new listings on the Canadian Securities Exchange, trading under the symbol “WPN”.

First Responder 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, which can be used to detect concealed weapons, based in part, on academic research licensed from Rutgers, the State University of New Jersey, which will receive 6,952,000 shares at a deemed price of $0.35 per share.

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.

Management believes 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.

Hon. Stockwell Day, PC, stated: "I am pleased that the Company has achieved this significant milestone. 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."

Robert Delamar, CEO, added: "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."

Based on 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.

It anticipates 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.

The company raised gross proceeds of $4.9 million from the placement of approximately 14 million units priced at $0.35 per unit.

Each unit consisted on one share and one-half a warrant, with each warrant exercisable at $0.50 for 24 months.

PI Financial acted as agent for the IPO.

The shares are trading at $0.33.

For more information, please visit the company’s website www.FirstResponderTech.com.

For general inquiries call 604-227-9821 or email info@FirstResponderTech.com.

For investor relations contact Lyle McLennan at lyle@FirstResponderTech.com.

I’m Nadika Viswakula for Investmentpitch Media