Liberty Defense Holdings has announced that it has closed an investment by Viken Detection. Viken purchased 9,090,909 units of Liberty Defense at an issue price of US$0.11 per unit, for gross proceeds of US$1m.
The proceeds from the will be used to further the production of Hexwave screening technology and for general corporate purposes.
“This investment further demonstrates the commitment from Viken in the Hexwave technology and the overall need for next-generation on-person screening technology, to detect non-metallic and metallic threats,” said Bill Frain, Liberty’s CEO. “Unfortunately, we continue to see acts of violence in the Americas requiring enhanced security measures, and this investment will help us accelerate the delivery of product to the marketplace.”
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