SCAN:CC - Shares of AI-Based Detection Solution Provider Higher Following Approval News from Canadian Government

2024-04-15 11:42:23 ET

Using low-power radar imaging combined with %AI and a computing platform, this product detects concealed metallic and non-metallic threats at speed, providing automated decisions to security operators and has been sold to multiple market verticals, including aviation, courthouses, national labs, prisons, and government facilities. And now it has reached another critical milestone.

Leading provider of AI-based detection solutions for concealed weapons and threatens %LibertyDefenseHoldings (TSXV: ) (OTC: ) announced in a press release today that the HEXWAVE™ product was granted a formal equipment authorization approval from the Innovation, Science and Economic Development Canada (ISED). This certification allows the Company to deploy HEXWAVE for commercial and government applications throughout Canada.

Liberty's HEXWAVE product has an exclusive license from the Massachusetts Institute of Technology (MIT) and a technology transfer agreement for active 3D radar imaging technology patents. Liberty has also recently licensed the millimeter wave-based, High-Definition Advanced Imaging Technology (HD-AIT) body scanner and shoe scanner technologies as part of its technology portfolio. Shares were trading up in late morning trade.